Report: First Steps on the Road To Financial Well-Being
Posted by Local Initiatives Support Coalition on December 12, 2016
New Study Shows LISC’s FOCs Surpass Other Programs
Promising new evidence suggests that LISC’s Financial Opportunity Center (FOC) approach is working, helping individuals improve their financial outlook through workforce services, financial coaching, and access to income supports.
An independent study by the Economic Mobility Corporation has found that clients of FOCs are more likely to be employed year-round, to reduce non-asset related debt, and to build positive credit histories than comparison group participants. These findings offer concrete evidence that LISC’s model is successful in helping low-income people reach their financial goals and create a brighter future for their families. The evaluation was conducted as part of a grant from the Social Innovation Fund to implement evidence-based solutions.
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