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Families who achieve financial independence are better positioned to contribute to thriving, sustainable communities. The efforts of Detroit LISC focus on helping families earn more money, keep more of the money they earn, and build assets to fund education, retirement and other financial goals. Steps to achieve these goals include supporting employment, promoting career development, providing family and work supports, and offering financial education. Financial Opportunity Centers, funded by the Social Innovation Fund Grant, are central to the work of helping families achieve financial independence.
The Greater Detroit Centers for Working Families is program in partnership with the United Way of Southeast Michigan designed to connect low-to-moderate income families to the financial and labor market mainstream. The core of LISC's model is offering employment and career services, financial education and coaching, and low-cost financial products that encourage investment and savings.
To date, over 5,691 families have been served: 301 enrollees have reported higher credit scores, 598 have reported increases in net income, and 438 reported increases in net worth. In addition, 958 active enrollees have retained employment through the end of 2012.
Through the partnership, Detroit current supports nine sites in three counties:
Please visit the Greater Detroit Centers for Working Families site for more information.
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