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What is the MoCaFi Card Program?

What is the MoCaFi Card Program?

Do you live in New Orleans? Have you heard of the Crescent City Card Program, also known as the NOLA MoCaFi Program? With this program, you could get a card that can help you:

  • Open a bank account
  • Build credit
  • Create wealth
  • Have a pass for public transit (such as the bus), public libraries, and city recreation centers

Interested in learning more? Let’s go through this upcoming program.

What is the Crescent City Card Program / NOLA MoCaFi Program?

In November 2021, New Orleans Mayor LaToya Cantrell announced a new program created by a partnership between Forward Together New Orleans and Mastercard, Mobility Capital Finance, Inc. This new program is the Crescent City Card Program also known as the NOLA MoCaFi Program. NOLA is a name for New Orleans, and MoCaFi comes from the first two letters of each word in Mobility Capital Finance.

This program has been formed because New Orleans is one of seven cities in the Mastercard company’s $500 million ‘In Solidarity’ initiative. This initiative is meant to assist in closing the racial wealth and economic gap for Black Americans.

The Crescent City Card Program will involve multiple different initiatives and products that intend to aid the people and city of New Orleans gain access to the following:

  • Financial inclusion
  • Access to emergency disbursements
  • Incentives to drive economic growth
  • Empower underbanked citizens
  • Provide better access to city services (NORD recreation centers, public transportation, parks, libraries)
By Unsplash user Pam Sharpe. A woman laughs as she sits on railroad tracks, looking off into the distance.
By Unsplash user Pam Sharpe.

New Orleans Guaranteed Income Program

This program is one of the initiatives taken by the Mastercard and Forward Together New Orleans partnership. Sometime in the spring or summer of 2022, 125 New Orleans residents ages 16-24 who do not work or go to school will receive part of a $500,000 grant through the New Orleans Guaranteed Income Program. They will receive $350 a month for ten months. The money will be distributed via a MoCaFi Immediate Response Card.  The card will also allow access to NORD recreation centers.

Mastercard also strives to empower small business, increase financial literacy, and create inclusive economic growth. You can learn more about how to become someone that benefits from their new programs here at their website.

Where else can I find help?

We have plenty of resources here at Low Income Relief. Here’s some that might interest you!

With her years of researching and writing experience, Chloe uses her experience and her passion for helping others to help you get the financial aid you deserve.