From Setbacks to Stability: How the Paterson Financial Empowerment Center Is Changing Lives
Last summer, Carlos Ramirez attended an NJCDC community event looking for resources after relocating to Paterson with his family following a job loss in Texas.
At the time, Carlos, his wife, and their two young children were living together in a single rented room while he searched for steady construction work. Providing for his family had become increasingly difficult, and finding a path back to financial stability felt overwhelming.
At the event, Carlos met Oscar Fuquene, Program Manager of the Paterson Financial Empowerment Center (FEC), who introduced him not only to the center’s free financial counseling services, but also to a network of additional resources available through NJCDC and our community partners. That conversation set him on a new path.
Working with FEC counselors, Carlos received guidance on budgeting, credit improvement, and financial planning. He was also connected with assistance navigating health insurance, accessing local food pantries, and resolving lingering medical debt from an out-of-state hospital visit that had been weighing down his credit.
With those barriers removed, Carlos was able to qualify for a credit card that provided greater financial flexibility during slow periods at work. Before long, he and his family moved into a two-bedroom apartment, giving them the space — and stability — they had been searching for.
A Program Built on Trust and Partnership
Carlos’ journey is one of hundreds made possible through the Paterson Financial Empowerment Center, which is operated by NJCDC in partnership with the City of Paterson and the Cities for Financial Empowerment Fund.
The program provides free, confidential, one-on-one financial counseling to Paterson residents seeking to improve their financial well-being. Whether someone hopes to rebuild credit, reduce debt, establish a budget, purchase a home, launch a business, or simply gain greater control over their finances, certified counselors work alongside clients to create personalized action plans and long-term strategies.
Since opening its doors, the center has served over 1,800 residents, helping clients collectively reduce more than $4.2 million in non-mortgage debt while increasing savings by more than $1.3 million.
“Financial counseling provides free, personalized support that helps individuals and families overcome financial challenges,” said Oscar Fuquene, FEC’s Program Manager. “Our goal is to create lasting change — not only for individual clients, but for the community as a whole.”
Patrinella Samuels: Rebuilding from the Ground Up
For Patrinella Samuels, that lasting change began with a simple goal: taking control of her future.
When she first came to the FEC, her credit score was in the low 400s, and years of unpaid debt had made it difficult to imagine buying a home or achieving long-term financial stability.
Working closely with her counselor, Patrinella began addressing outstanding debts, disputing inaccurate items on her credit report, and developing healthier financial habits. As some debts were successfully resolved, her credit steadily improved.
Today, her score has climbed to nearly 600, and she’s continuing to build momentum toward the future she envisioned when she first walked through the center's doors.
Stories like Carlos’ and Patrinella’s reflect a philosophy that has guided the Financial Empowerment Center since its launch: lasting financial security isn’t built through quick fixes, but through education, planning, trusted relationships, and consistent support.
“Financial stability opens doors,” said NJCDC Founder & CEO Bob Guarasci. “When families have the knowledge and confidence to take control of their finances, they’re able to make choices that once felt out of reach — whether that’s securing stable housing, starting a business, pursuing homeownership, or simply planning for tomorrow instead of worrying about today. Through our partnership with the City of Paterson, we’re helping residents realize the opportunities they deserve, and in doing so, we’re helping build a stronger Paterson.”
A Growing List of Success Stories
Carlos and Patrinella join a growing list of residents whose lives have been transformed through the Financial Empowerment Center. We've previously shared the stories of James Brown, who dramatically improved his credit score while rebuilding his financial future, and Kirrsy Baez, whose work with the center helped her launch her own neighborhood laundromat after immigrating to Paterson. Another client, Guy Hammond, turned to the FEC while living on a fixed income. Through months of financial counseling and responsible credit management, he raised his credit score above 700 and gained the confidence to manage his finances independently.
While each client’s journey is unique, they all demonstrate the same truth: financial empowerment is about more than improving a credit score or paying off debt. It's about creating opportunities, strengthening families, and giving people the tools to shape the futures they want for themselves.
Take the First Step toward Financial Stability
If you’re a Paterson resident looking to reduce debt, improve your credit, build savings, create a budget, or work toward goals like homeownership or entrepreneurship, the Paterson Financial Empowerment Center is here to help. Every counseling session is free, confidential, and designed to put you on a path toward lasting financial success.
Sometimes, a brighter future begins with a single conversation.
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