LISC joins forces with Mid Central Community Action Inc. and State Farm to launch Bloomington's first Financial Opportunity Center

MCCA and LISC Peoria Staff come together with the Bloomington-Normal community to celebrate the city's first FOC.

Bloomington, IL (July 25, 2018) –Bloomington-Normal residents looking to build new job skills and improve their financial stability have a new resource to help them raise their standards of living with the opening of the area’s first Financial Opportunity Center (FOC), located in West Bloomington.

The Local Initiatives Support Corporation (LISC) of Greater Peoria, with support from State Farm®, is excited to launch this new FOC at Mid Central Community Action (MCCA), a local nonprofit, in partnership with Heartland Community College. The program is part of a national network created by LISC to help residents find good jobs, improve their credit, build savings and expand their overall net worth.

LISC’s mission is to expand economic opportunity and revitalize Central Illinois communities. Ongoing efforts include investments in affordable housing and business development, alongside support for good jobs, community safety, health and education. FOCs are a central part of that effort, according to Karen Davis, executive director of the local LISC office. “Managing personal financial resources can lead to a pathway out of poverty,” she said.

The new FOC will provide an estimated 100 area residents with financial coaching and employment services in its first year. It is part of a network of more than 80 LISC FOCs across the country, all embedded in local community organizations like MCCA that are trusted, known for their history of providing quality services, and convenient to where people live and seek out services. “We envision this new endeavor as the ‘next step’ to integrate employment resources and workforce development opportunities,” said MCCA Executive Director Deborah White. “Participants can expect education, support, and coaching for their short-term goals and long-term sustainability. Success will bring increased vitality to our community as well as positively impact families.”

FOCs provide employment counseling—including job training and placement; one-on-one financial coaching and education; and low-cost financial products that help build credit, savings and assets. They also connect clients with programs such as food stamps, utilities assistance and affordable health insurance as needed. The cornerstone of the FOC model is providing these services in an integrated way — rather than as stand-alone services — and with a long-term commitment to helping clients reach their goals. Outcomes data indicates that this bundled approach helps clients raise their incomes and net worth.

LISC’s FOC work in Central Illinois is primarily funded by State Farm, which supports similar LISC efforts all across the country. Since 2000, LISC and State Farm have worked together on affordable housing, economic development, community safety and other key quality of life efforts across the country. Through 2017, more than 187,000 individuals have received wealth building services as a result of State Farm support.

A ribbon cutting ceremony to open the FOC will be held on July 25th at 11:00am at the Mid Central Community Action building (1301 West Washington Street) in Bloomington. Attendees will hear from executive directors of both LISC and MCCA, as well as from a State Farm representative about how the FOC will benefit local residents.

“Greater Peoria LISC is poised to make an investment in Central Illinois’ economic growth by launching a Financial Opportunity Center network in the region,’ said Davis. “Our partnership with State Farm is critical to making this effort happen.”

The new FOC operates from MCCA’s office at 1301 West Washington Street in Bloomington, Ill.