Thank You to Our Newest Funder, First Commonwealth Bank!Leave a Comment
Our funders play a critical role in making positive neighborhood change possible. Neighborhood by neighborhood, block by block, their support is helping to build strong communities, strong neighborhoods, and strong families.
About Financial Opportunity Centers: The FOC model bundles three services together — employment services, financial coaching and access to benefits — that are combined to stabilize stressful circumstances, reinforce healthy habits and provide needed supports. The best way to improve families’ financial bottom line is by helping them to simultaneously boost earnings and reduce expenses. Families can raise income by finding and keeping a job and by participating in income-support programs for which they are eligible. But they also must bring expenses under control by budgeting and improving their credit scores. As they do, the net value of their earnings rises sharply, increasing their incentive to retain a job, which results in economic stability.
In 2018, our network of FOCs will serve over 1,200 clients:
- 400 will be connected to an employment (with a 60% six-month retention rate)
- 360 will show increases in income
- 30 will improve their credit
- 50 will increase their net worth