For For businesses businesses and and consumers.consumers Either Either CD
CD
$1,000 minimum balance to open.
OFFICES IN:
CHELSEA: 242 WEST 23RD
LENOX HILL: 1355 1ST
TH
FOR A COMPLETE LIST OF LOCATIONS AND HOURS, GO TO NECB.COM
* Annual Percentage Yields (APYs) disclosed are effective as of 3/1/2019 and may be changed by the Bank at any time.
The Simple CDs require a $1,000 minimum balance to open and earn interest. Early withdrawal penalty may apply.
The Simple CDs must be opened in person at an NECB branch. New money only. Offer may be withdrawn at any time
without prior notice.
BRONX TIMES REPORTER,BTR APRIL 26-MAY 2, 2019 37
Benefi ts and
entitlements
Senior citizens are a
vital part of the community.
They have worked
hard to lay the foundation
for future generations
to succeed. Often
older adults live on a
fi xed income and may
need assistance with paying
for rent, healthcare,
food, or other services.
Programs are available
in New York City to assist
older adults.
We will cover a few of
these programs here today.
The Senior Citizens
Rent Increase Exemption
(SCRIE) is a program
primarily administered
by the New York City Department
of Finance. SCRIE
allows seniors who
qualify to have their
rent frozen at the current
amount. This can be
a great benefi t to individuals
living on a fi xed income
when they face rising
rent costs.
In order to qualify for
SCRIE a person must be
at least 62 years of age
and be the primary tenant
on the lease. He/she
must have a combined
household income of
$50,000 or less, and spend
more than a one-third of
income on rent. Individuals
can live in rent controlled,
rent stabilized,
or Mitchel-Lamas housing.
This is an under-utilized
benefi t that could be
helpful for many people
who have limited fi nancial
means and struggle
to pay monthly rent.
The Senior Citizen
Homeowners exemption
provides a property
tax exemption for
seniors who own their
own homes or co-op
apts. In order to qualify,
older adults must be 65
years of age in the year
of submitting the application,
have a combined
income of $37,399 for all
owners, and it must be
their primary residence.
Through this program
seniors can have the assessed
value of their
home reduced by anywhere
from 5% to 50%
depending on income
level.
Other programs that
are also available include
The Medicare Savings
Program, NYC 210
(NYC School Tax Credit,
IT 214 (Real Property
Tax Credit), EPIC (Elderly
Pharmaceutical
Insurance Coverage),
SNAP (Supplemental
Nutritional Assistance
Program), and Meals-on-
Wheels.
These are just a few of
the benefi ts and entitlements
for which seniors
may qualify.
Please contact
R.A.I.N. One Stop at: 718-
239-4358 with questions
or for more information
on these programs.
A specialist there will
be more than happy to
speak with you and discuss
your eligibility.
Brought to you by
Montefi ore Medical
Group, R.A.I.N. and the
Hartford Institute for Geriatric
Nursing @ NYU
THE BRONX TIMES
REPORTER
EDITORIAL DEPARTMENT
IS CURRENTLY HIRING
COLLEGE INTERNS, WHO
WILL RECEIVE SCHOOL
CREDIT AS COMPENSATION.
IF INTERESTED,
CALL (718) 260-4593
/NECB.COM