Family Income & Wealth Building
A sign of a thriving community is that residents feel confident that their lives will improve, their incomes rise, and their job prospects widen while they are living there. However, achieving economic stability is a process that builds upon itself, and it requires long-term planning and commitment from individuals and families. Economic stability is a combination of adequate income and good financial management behavior. LISC includes the following elements in its definition of economic stability for the low-to-moderate income residents that our community partners serve:
LISC's Family Income and Wealth Building program is designed to connect low-to-moderate income families to the financial and labor market mainstream. Our approach focuses on offering employment and career services, financial coaching and education, and low-cost financial products that build credit, savings, and assets.
Family Income and Wealth Building initiatives include our national network of over 70 Financial Opportunity Centers; occupational skills training and “bridge” programs; credit-building products like Twin Accounts; and field-building advocacy and technical assistance on Integrated Service Delivery.
In 2013, the Financial Opportunity Center network helped over 20,000 individuals receive bundled services. Nearly 50% of clients achieved at least one major financial stability outcome:
Program Director: Seung Kim