Wells Fargo has committed a new $1 million, one-year grant to support LISC’s Financial Opportunity Center® network in under-resourced communities nationwide. In the last year alone, our partnership has helped pave a path to resilience and sustainable financial and career success for nearly 12,000 people. To celebrate this renewed support, we’re sharing our favorite stories about people touched by the Wells Fargo partnership.
For people struggling under the weight of high rent burden, the volatility of inflation, and debt, especially those living in under-resourced places, LISC’s Financial Opportunity Center® (FOC) network can help pave a path to resilience and sustainable financial and career success. Supported by Wells Fargo for the past six years, FOC programs offer access to job training in high-growth sectors, career coaching to advance in employment, and financial coaching and education to help people enhance budgeting skills, reduce expenses, build credit and establish savings. What’s more, FOC coaches connect clients to income supports, such as food or childcare benefits, to help alleviate the pressure on tight household budgets while they work towards their goals. And all of these services are delivered by trusted LISC community partners.
In the last year alone, nearly 12,000 people benefited from integrated coaching services at more than 30 Wells Fargo-supported FOC programs nationwide, leading to these key outcomes:
- 2,400 people increased earnings
- 1,800 people increased short-term savings by an average of at least $750
- 1,600 people reduced debt by at least $1,000
- 2,500 people increased credit score
A new $1 million grant from Wells Fargo will allow LISC to continue this important work for another year, with the goal of helping 15,000 people stabilize, build, and grow their financial bottom line. To celebrate this renewed support, we’re sharing our favorite stories about people touched by the Wells Fargo partnership.
Meet Joanna from San Diego
Tired of living paycheck to paycheck, Joanna seized the opportunity to build a more stable life for her four children and herself with help from San Diego Housing Commission (SDHC), a LISC partner in southern California supported by Wells Fargo.
Joanna started by addressing her finances. With guidance from SDHC, she built her savings, repaired her credit, and paid off debt. She also started a new career in health care, earning a CNA certification and then a phlebotomy license with support from SDHC. She now has a better-paying job, but as Joanna says, this is just the start. “I love being a phlebotomist, but I don't want to stop there. I want to keep going.”
Joanna is already studying to become a Licensed Vocational Nurse and eventually a Registered Nurse. An aspiring homeowner, she has already saved enough for a down payment and is now searching for a home to purchase.
Learn more about Joanna’s story.
Meet Eddie from Houston
Eddie’s goals were clear when he came to Volunteers of America Texas (VOA): he wanted to secure a stable job and save for a deposit on a new apartment.
With support from Wells Fargo through LISC, VOA coaches connected Eddie to job training, as well as interview and resume writing services, that helped him land a job as a forklift operator. VOA also worked with Eddie to create a budget and savings plan.
Today, Eddie is living in a new apartment and driving a new car that provides reliable transportation to a new, better-paying job as a repair technician. “Having an apartment and a car [in] a little less than a year of saving makes me even more determined to keep working hard and save more.”
Learn more about Eddie’s story.
Meet Patricia from Los Angeles
As a teenager, Patricia came to California from Mexico and worked hard to build a life for herself in the U.S. When COVID-19 hit, she decided to take control of her finances—the pandemic had quickly taught her the importance of having emergency savings. Not sure where to start, Patricia turned to Central City Neighborhood Partners (CCNP), a LISC partner supported by Wells Fargo, for guidance.
With help from a CCNP financial coach, Patricia created a new budget, learned how to access and manage credit, and opened bank accounts to build savings and credit at the same time. “When I started, I had no credit history and didn’t know what credit was. But now, thanks to CCNP, I have a credit history and I know how to use my credit card in an effective way.”
With her growing savings and newly established credit history, Patricia is now laser-focused on achieving two new financial goals: moving to a new apartment and purchasing a car.
Learn more about Patricia’s story.
