A New Study Shows LISC’s Financial Opportunity Centers Surpass Other Programs
Houston LISC's network of Financial Opportunity Centers (FOCs) help low to moderate income families in targeted neighborhoods move up the economic ladder. This network is a part of a national LISC network of 80 FOCs in more than 30 cities across the country. Through the network we help people get steady, living-wage employment, boost their credit rating and increase net income and net worth. FOCs do this by offering three main services, bundled together: one-on-one financial counseling, employment assistance, and help accessing public benefits that supplement income from work.
Now, we have promising new evidence that this strategy works: An independent study by the Economic Mobility Corporation, entitled First Steps on the Road to Financial Well-Being: Final Report from the Evaluation of LISC’s Financial Opportunity Centers, has found that FOC clients are more likely to be employed year-round, reduce non-asset related debt and build positive credit histories than comparison group participants. These findings offer concrete evidence that our model is successful in helping low-income people achieve financial goals and creating a brighter future for their families. This evaluation was conducted as part of a grant from the White House Social Innovation Fund to implement and scale evidence-based solutions.
We encourage you to read the full report and summary below:
View Report Summary