Winter 2013 Newsletter
February 20, 2013Winter 2013

Our Voice

A Letter From the CEO

 


 

 

Hello Friends,

 

Happy New Year!  Everyone at More Than Wheels wishes you and your family a happy and healthy 2013.  In this winter issue, we have highlighted the important services provided  by the many local volunteer income tax preparers in our region.  These volunteers work many hours to assist those earning $51,000 or less a year - providing not only valuable tax preparation services but also information on the Earned Income Tax Credit that you may be eligible for - we encourage anyone qualified to take advantage of these services.  

 

We are thrilled to share with you some exciting news in the issue as well. More Than Wheels has been selected by the Social Impact Exchange as one of the top performing nonprofits in the country and is included in the S&I 100 index.

 

We have also provided a link to a recent study on underbanked consumers that you may find of interest. It is a growing marketplace and one that charges high fees for services to those individuals who can least afford to pay them.  We, along with many others, encourage consumers to avoid those high fees by taking advantage of local Bank and Credit Union account programs.  I hope you enjoy the stories of success we share with you in each issue, and keep warm!  

 

  Terri signature
Terri Steingrebe, CEO 
More Than Wheels
Success Story: Felicia Miles

 

 

 

For a few years now Felicia Miles' experience with vehicles consisted of buying cars for about $1500 at a time. She was always stressed because there was a sense of just barely making it to wherever she was driving, not to mention the worrying about always having to find money to fix unexpected repair costs. She was constantly concerned about what would breakdown next and how it would affect her commitments and responsibilities.  On top of all of this, there were issues going on with her credit report that she was not aware of.

 

Felicia admitted, "My credit wasn't terrible but I just wasn't checking it so that was an issue. I really wish I had stayed on top of it more."

 

One day Felicia's sister read an article about More Than Wheels in the Bay State Banner Newspaper. She cut it out and gave it to Felicia in hopes that it might help a little with her vehicle situation. What Felicia didn't realize when she got in touch with us, was that she was going to get much more than just a little help... (click to continue reading)

Get Your Taxes Done for FREE!
VITA Programs
 

 
 
There are local Volunteer Income Tax Assistance (VITA) sites that allow people to get personal tax preparation done for FREE! The VITA Program offers free tax help to people who make $51,000 or less and need assistance in preparing their own tax returns. IRS-certified volunteers provide free basic income tax return preparation with electronic filing to qualified individuals in local communities. They can inform taxpayers about special tax credits for which they may qualify such as Earned Income Tax CreditChild Tax Credit, and
Credit for the Elderly or the Disabled. VITA sites are generally located at community and neighborhood centers, libraries, schools, shopping malls, and other convenient locations.

 

This program not only allows you to save money on tax preparation, but is a great opportunity to use your tax refunds towards the purchase of reliable, fuel-efficient vehicle.  This provides an opportunity to put you tax refund to good use and by working with More Than Wheels clients can save $10,000 - $13,000 on the purchase of a vehicle!

 

Find your local VITA sites by calling simply calling 211 or visiting your local 211 website:

 

>   Massachusetts - Massachusetts 211

>   New Hampshire - New Hampshire 211

>   Maine - Maine 211

>   Vermont - Vermont 211

More Than Wheels is Named a Top Performing Nonprofit
S&I 100 Index 
 
 

The Social Impact Exchange has launched the S&I 100. This is an index of the top nonprofits having a positive impact on America's most pressing social issues. The Social Impact Exchange reviewed organizations which focused on education, health, poverty and youth development. Each nonprofit was rigorously screened for evidence of demonstrated impact and readiness and capacity for growth... (click to continue reading)


Recent Study on Underbanked Consumers
Terri Steingrebe's response to this continuing trend

 

We wanted to share with you a recent study of underbanked consumers published by the Center for Financial Services Innovation. 

  • The Underbanked marketplace in 2011 grew by more than 7% - it is a $78B market
  • The subprime credit card market grew by 39.4%, internet payday loans by 32.4%, and subprime car loans the largest segment of this market grew at 9.9% accounting for $27B
  • Indicators and trends are projecting this market to continue to grow by more than 9% to $85B in 2012

Who are underbanked consumers? 

They are consumers whose financial needs are not served by traditional financial institutions... (click to continue reading)

 


MA/COM - New Lending Partner
Partnership in Lowell, MA

 

 

We are proud to announce our new lending partner in Lowell, MA is MA/COM Federal Credit Union! MA/COM's mission is to strive to be a primary financial resource by offering the most convenient and cost-effective method to manage individuals' finances. Their commitment to the financial well-being of their members and the community made the partnership a perfect fit.  The goals of MA/COM are right in line with our mission here at More Than Wheels and together we will be able to provide Massachusetts residents with better access to affordable loans and a greater financial well-being!     


 
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In This Issue
> Free Tax Preparation
> Top Performing Nonprofit
> Recent Study
> MA/COM - New Lending Partner
> In The News



 
 
 
 
 
Refer a Friend!

Alumni who refer friends
to More Than Wheels
become eligible to receive
cash payments immediately! 
 
Whether they have perfect credit or need a little help figuring out their finances, our car-buying experts will:
  • Help them find the car that fits their needs.
  • Negotiate with the dealer and the bank on their behalf to get the lowest price and interest rate.
  • Help them save on gas and repairs with a reliable, fuel-efficient car.
Tell them to call   
1-866-455-2522 or visit MoreThanWheels.org
to apply!  
 
 
 
 
Donate Your Vehicle!
 

Donating your car to More Than Wheels helps local families:

  • Keep stable jobs
  • Build good credit
  • Gain financial security

By donating your used car to our temporary transportation program you could earn the maximum car tax deduction!

      

 
Easy car pick-up is just a call or click away! 
 
Call 1-866-455-2522 
or visit 
 
 

More Than Wheels 
In the News

 
 
The Bangor Daily News:
 
 

The Huffington Post:
 
 
 
Volunteer!
 

  

For information about volunteer opportunities at More Than Wheels:

 

Call 1-866-455-2522