Financial Stability
Individuals and families are struggling to make ends meet due to the significant increase in cost of living, low wages, unemployment and lack of affordable housing. Green Mountain United Way has identified Financial Stability as a priority and is helping individuals to increase income, build savings and gain and sustain assets through the following community initiatives.
Download Financial Stability Brochure
Financial Literacy
In collaboration with high schools, colleges, local banks and community groups, Green Mountain United Way is hosting financial literacy workshops throughout its five-county region, providing individuals with resources and information on credit, savings, budgeting and banking.
As a result of the workshops that Green Mountain United Way has been sponsoring and conducting with local financial institutions, Canaan Memorial High School is offering a new Personal Finance class to its Juniors and Seniors. North Country Union High School in Newport has provided an opportunity for its students to attend two additional financial independence workshops.
Youth Financial Literacy Flyers
Tracy Roberts, Marketing Director of the Community National Bank, conducting a workshop at North Country Career Center in Newport.
Nelson Baker of GMUW providing financial literacy information to employees of Northeast Kingdom Human Services in Newport.
Joe Hicks of Central Vermont Community Action Council facilitating a workshop at Norwich University on banking.
Diane Rowlee, Residential Lender at Community National Bank and Chair of the Financial Literacy Committee for GMUW in the Orleans/No. Essex region, speaking to the Personal Finance class at Canaan Memorial High School.
Earned Income Tax Credit
What is the Earned Income Tax Credit EITC?
It's a federal income tax credit for people who work, but don't earn much money. If you qualify, it could be worth up to $5,000 this year. So you could pay less federal tax or even get a refund. But it's not just about the money, it's about the difference it can make in your life.Am I eligible for the EITC?
You may be if you meet the rules to claim the credit.- You must have earned income from employment or self-employment.
- Your earned income must be less than:
- $13,980 ($19,190 married filing jointly) with no qualifying children;
- $36,920 ($42,130 married filing jointly) with one qualifying child;
- $41,952 ($47,162 married filing jointly) with two qualifying children;
- $45,060 ($50,270 married filing jointly) with three or more qualifying children.
- There is a limit on the amount of investment income (such as interest) that you can have.
- Your filing status cannot be married filing separately.
- You must be a U.S. citizen or resident alien all year, on a nonresident alien married to a U.S. citizen or resident alien and filing a joint return.
- You must have a valid Social Security number (SSN).
- You cannot be a qualifying child of another person.
- If you do not have a qualifying child, you must:
- be age 25 but under 65 at the end of the year,
- live in the United States* for more than half the year, and
- not qualify as a dependent of another person.
* U.S. military personnel on extended active duty outside the United States are considered to live in the United States while on active duty.
See if you qualify. Visit www.irs.gov/eitc
Green Mountain United Way is partnering with the United Ways of Vermont and the IRS to promote the EITC to ensure Vermonters are receiving the credits for which they are eligible.