Lynn to land $1M to battle poverty

LYNN – The United Way today is expected to pledge $1 million in aid to Lynn over the next five years as part of a plan to connect the service of non-profit organizations in the city and help needy residents move out of poverty.Michael Durkin, president of the United Way, was scheduled to make the announcement at the newly established Financial Stability Center at 270 Union St.The program has been formally dubbed the United Way Financial Stability Center Powered by Serving People in Need (SPIN). The umbrella group was designed to include more than a dozen non-profit organizations and business partners.According to Meghan Keaney Anderson, United Way communications director, unemployment in Lynn has climbed to double digits over the past year. The situation has prompted the United Way Massachusetts Bay and Merrimack Valley to join with SPIN in the creation of an innovative center to help families move beyond safety nets and achieve financial stability, she said.”Lynn, like many other cities and towns in the state, has many families who are struggling, especially in today’s economy. Lynn’s unemployment rate dramatically increased from 6.4 percent in June 2008 to 10.8 percent in June 2009,” said Anderson. “In addition, the IRS estimates that $3.2 million is left behind in Earned Income Tax Credits for eligible Lynn tax filers who aren’t even aware of the credit.”The center will offer an array of financially focused opportunities and services under one roof that promote the economic empowerment of families and individuals. In the first year, it’s anticipated that 500 families – or 1,500 individuals – will be connected to the services they need to move toward financial stability, Anderson said.Some of the opportunities include financial education, credit counseling and basic banking tutorials; free tax preparation; computer and job-related skills training; financial aid application assistance; matched savings information; housing services referrals; homebuyer education; foreclosure assistance and case management with cross-trained staff. Mayor Edward J. Clancy Jr., Mark DeJoie, executive director of SPIN, and Federal Reserve Bank AVP Marques Benton are among those scheduled to attend the center’s grand opening at 11 a.m.