LISC FOC Model Implementation Academy
The Financial Opportunity Center® (FOC) Model, originating in Chicago, represents an integrated service delivery approach aimed at equipping individuals with the tools, support, and knowledge to enhance their earnings, establish credit, reduce expenses, and make informed financial decisions. Since 2005, LISC has partnered with 22 organizations, assisting more than 12,600 individuals in securing employment and aiding over 10,500 individuals in improving their net worth, FICO credit scores, and/or monthly income.
To bolster the capacity of workforce development organizations and broaden our impact across the city, LISC Chicago launched the FOC Model Implementation Academy in 2019. This academy provided a cohort-based learning experience, enabling non-LISC funded workforce development organizations to grasp this model, collaboratively devise action plans with their internal teams, and seamlessly integrate financial coaching and income supports into their existing workforce development programs.
The results of the Academy are notable. Here are just a few:
- LISC Chicago has collaborated with nine organizations through its Academy model.
- Five of these organizations have successfully integrated core elements of the model into their operations resulting in:
- The recruitment of critical staff such as financial and workforce coaches;
- Participants showing an impressive 80% reduction in debt;
- Over 300 individuals receiving financial coaching services;
- Implementation of new programmatic and staff communication processes; and
- Securing new funding to implement to model.
The FOC Model Implementation Academy is currently undergoing a revitalization effort slated for launch in 2024. The new design will involve Track Learn; a 6 month self pace learning model for community based organization’s wanting to understand the best practices of implementing LISC’s Financial Opportunity Center Model.
If you’d like to learn more, please email Sarai Garza, at sgarza@lisc.org.