Financial Opportunity Centers®
Interested in free financial coaching or employment coaching? Reach out to our Financial Opportunity Centers®
LISC National established the Family Income and Wealth Building (FIWB) program in 2004 as part of its Building Sustainable Communities strategy. The FIWB program supports Financial Opportunity Centers® (FOC) and Bridges to Career Opportunities (BCO) Centers across the country. LISC LA’s FOC network is comprised of three community-based organization partners: Central City Neighborhood Partners (CCNP), Mexican American Opportunity Foundation (MAOF), and Asian American Drug Abuse Program (AADAP).
All three of LISC LA’s FOCs also serve as Bridges to Career Opportunities (Bridges) sites. Bridges sites expand beyond the three core FOC offerings of financial coaching, employment counseling, and income supports counseling, to also offer training for high demand careers. These FOCs offer basic education and language skills; career training, credentials, and placement; and personalized career and financial coaching – all in one place.
LISC Los Angeles has identified itself as a leader in financial capability and provides training and knowledge sharing opportunities throughout the LA market. LISC Los Angeles oversees the three FOCs in Los Angeles and frequently connects with LISC National on developing trainings and opportunities for their FOC implementation partners and the FOC Community of Practice. The three FOCs in Los Angeles are Central City Neighborhood Partners (CCNP), the Mexican American Opportunity Foundation (MAOF), and Asian American Drug Abuse Program (AADAP).
Financial Opportunity Centers®
FOCs are career and financial education centers that provide employment and career counseling, one-on-one financial coaching and low-cost financial products that help build credit, savings, and assets. They also connect clients with income supports such as food stamps, utilities assistance, and affordable health insurance. 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.
The FOC’s integrated or “bundled” services lead to concrete gains in net income and job retention. Research shows that FOC clients who take advantage of combined services are 50 percent more likely to land a well-paying job than people receiving employment services alone. And long-term job retention – holding a job for a year or more – almost doubles when financial coaching reenforces the work of employment counseling.
LISC's network of more than 100 FOCs across the country focus on improving the financial lives of individuals and families who have limited wealth, income and employment opportunities. Promoting and investing in a model of integrated service delivery, LISC partners with community-based organizations interested in transforming their employment advancement, income enhancements and financial capability/asset building programs into higher performing, data-driven models with integration at the center.
How LISC supports FOCs:
- Operating grants: Yearly outcome-based grants
- Common data-tracking platform: FOCs are required to use Salesforce
- Access to Financial Products: Partners become members of the Credit Builders Alliance and have access to Twin Accounts, the LISC match savings product.
- Best Practices: Access to the 80+ FOCs across the country
- Community of Practice: LISC LA invites interested organizations to exclusive FOC trainings and convenings to support their pathway to become a FOC
- Capacity Building: LISC LA brings financial coaching, employment coaching, and other trainers to the market in addition to supporting our partners with convening, access to LISC AmeriCorps members, and more.
Bridges to Career Opportunities (Bridges)
Bridges to Career Opportunities are built into many of the Financial Opportunity Centers across the country. Bridges to Career Opportunities, or BCOs, support underemployed or unemployed residents to access trainings and credentialed programs to reduce the basic skills gap that exists in many LMI communities. This program focuses primarily on training or credential programs that lead to living wage jobs and are a high growth industry in the regional market.
BCO clients receive the same three core services of the FOC program while going through their training program and are often connected to employers that will hire them into the particular industry they are trained in. The BCO program emphasizes the connection to “middle skill” jobs with a career pathway and support local employers by providing employees who receive the right training.
LISC LA’S FOCs
LISC Los Angeles currently supports three FOCs in the Los Angeles market: Central City Neighborhood Partners (CCNP), Mexican American Opportunity Foundation (MAOF), and Asian American Drug Abuse Program (AADAP).
Central City Neighborhood Partners (CCNP)
CCNP’s mission is to advance economic opportunities of low-income families by fostering partnerships and supporting positive community change. CCNP’s FOC is dedicated to the workforce and financial development of low to moderate-income individuals residing in Los Angeles County. With hands-on support from CCNP’s Career and Financial coaches, participants are provided with the resources and support needed to achieve their career and financial goals. CCNP also joined LISC LA’s FOC network in 2018.
Mexican American Opportunity Foundation (MAOF)
MAOF is headquartered in Montebello, CA and has offices in Commerce, Bakersfield, and Salinas. MAOF provides socio-economic betterment for the greater Latino community of California, while preserving the pride, values, and heritage of Mexican-American culture. MAOF joined LISC LA’s FOC network in 2018. MAOF embraced the three-pronged approach to help clients achieve economic stability and growth. In addition to offering the three core FOC services, MAOF also provides tax assistance services, immigration services, and early childcare and education.
Asian American Drug Abuse Program (AADAP)
AADAP began with the mission to improve community health through providing prevention education, treating substance abuse, and facilitating economic development to increase job skills and employment opportunities. Programs have expanded to include HIV/AIDS outreach, Drug Court Services, tobacco education, and a for-profit business venture, MTC Construction. AADAP is co-located with the West Adams WorkSource Center, which supports the Financial Opportunity Center with employment counseling. AADAP joined LISC LA’s FOC network in 2021.
FOC Resources:
An independent study by the Economic Mobility Corporation shows LISC’s Financial Opportunity Centers program surpasses other programs.
Research on the efficacy of the Financial Opportunity Center model.
