NYCfNAC was established in 2000 as a nonprofit organization in response to the loss of affordable banking services in New York City's low-income communities. Without access to such services, low-income households are forced to rely on such alternative financial services providers as check cashers, pawnbrokers, loan sharks, and other predatory lenders. Thus, NYCfNAC was founded to promote access by a greater proportion in New York City to affordable, comprehensive financial services. NYCfNAC asserts the right of every low-income person to save, borrow, invest, acquire assets, build wealth and enter the economic mainstream. To accomplish its mission, NYCfNAC builds the capacity of the city's leading community development credit unions, which are dedicated to meeting the needs of financially-underserved households.