On Friday, Mid-Cumberland Community Action Agency will be hosting its second annual Financial Fun Fest.
The goal of the MCCAA Financial Fun Fest is to bring together community agencies and organizations that offer various services aimed at improving the household financial stability for low to moderate income families in Middle Tennessee.
The Fun Fest provides a non threatening environment in which participants can gain access to the services and programs offered. In addition to MCCAA, the Tennessee Housing Development Agency, the Legal Aid Society of Middle Tennessee and many other community organizations will be participating in the Financial Fun Fest.
Information will also be offered on the MCCAA Volunteer Income Tax Assistance Program and the Earned Income Tax Credit
Why is this Financial Fun Fest so important?
A recent Financial Capability survey, conducted by FINRA, indicated that Tennessee ranked fifth from last in the nation in financial literacy. Furthermore, over half of Tennessee’s households live from paycheck to paycheck, with a staggering 65 percent without a “rainy day” or emergency fund.
Adding to the direness of the situation is the estimated 30 percent of Tennesseans that have engaged in high cost, non-bank borrowing such as a payday loan or a refund anticipation loan at tax time.
Kreda Yokley, executive director for MCCAA is well aware of the need for financial education in the local communities. “As a Community Action Agency, we see the struggle that the economically challenged population faces, year after year, regardless of the current economic climate. By equipping our clients with tools and information needed to help overcome economic barriers, we are providing our clients with an invaluable service,” says Yokley.
One valuable tool MCCAA provides the community with is the Volunteer Income Tax Assistance (VITA) program, a free income tax preparation program for qualified low to moderate income taxpayers.
“VITA is one of my favorite programs,” says Yokley. “By providing VITA and promoting the Earned Income Tax Credit, MCCAA has e-filed over 2,600 federal income tax returns and returned over 3.5 million dollars to our local communities in just the last three years alone.”
Community members are invited to come out to the Financial Fun Fest on Friday at the McFadden Community Center located at 211 Bridge Avenue in Murfreesboro TN from 10 a.m. until 3 p.m. Complimentary refreshments will be served, and door prizes will be given away.
MCCAA also provides a number of self-sufficiency, medical support, rental, mortgage, transportation, and nutritional services to Middle Tennessee families. In addition to Income Tax Preparation, Agency programs include Head Start and Early Head Start, Weatherization and the Retired Senior Volunteer Program. The agency services eight Mid-State counties, which include Cannon, Cheatham, Robertson, Rutherford, Sumner, Trousdale, Williamson and Wilson.