SPIN celebrates its Lynn successes

LYNN – More than 41 percent of residents in Lynn are living below the federal poverty level. That figure, combined with the down economy, has generated a need for assistance like never before.As a result, the first United Way Financial Stability Center opened in Lynn during the height of the recession in 2009 and, so far, the center has helped more than 500 families rebound from the depths of destitution.?It?s a slow recovery (from the recession) and, unfortunately, the poor urban areas are the last to recover,” said State Rep. Steven Walsh. “But it?s programs like this that help people get work force training and skills to help manage their money better.”Achievements of the program?s first 18 months were celebrated Thursday, where Serving People in Need, Inc. (SPIN) and the United Way of Massachusetts joined together with partners, volunteers and local families at the center, located at 270 Union St.?This program is teaching people to be more financially independent and we are very proud of those who have taken the class,” said Mark DeJoie, executive director of SPIN.Since its inception, the center has helped more than 175 youths and adults complete financial education courses and, of that number, more than 160 have since reduced their debt, opened a checking or savings account and learned how to live on a budget.An additional 60 people were recognized Thursday who have also finished the program, including Sophie Lazu of Lynn.?Without SPIN, I don?t know where I would be,” she said between tears.Lazu, 25, a mother of two, suffered a series of medical setbacks that resulted in the loss of her apartment, job and car. Homeless with two young children, Lazu went from hotel to hotel until she got a phone call from SPIN that changed her life.?I was able to put my life back together and get back on my feet,” she said. “I?ve gotten my taxes done for free, saved money and now I?m almost debt free.”More than 700 tax returns have been processed for low to moderate income families in Lynn, which generated $1 million in federal returns, including $373,992 in refunds through the Earned Income Tax Credit. According to the IRS, $3.2 million in Earned Income Tax Credits went unclaimed in Lynn in past years, mainly because residents were unaware of the credit or their eligibility.Those refunds are helping families who United Way President Michael Durkin said are now able to use the money to pay bills, climb out of debt or save for the future.?Everyone runs into something that?s a challenge,” he said. “But sometimes it?s just too tough to do on your own. That?s what the United Way is here for.”