"Opportunity NYC" Expansion

From the Harvard Government Innovators website: "Hoping to contribute to the success of Opportunity NYC, a program by which poor families get financial incentives to act in their and society's long-term interests, the City of New York is collaborating with eight banks and credit unions to offer a special Opportunity NYC savings account. These flexible "starter" accounts do not require a minimum opening balance and do not charge monthly fees. There is a $50 incentive for Opportunity NYC participants to open an account, which provides easy and safe access to the bi-monthly allowances paid to Opportunity NYC families. The goal of the accounts is to encourage savings and budgeting and help beneficiaries establish and maintain good credit."