The Local Initatives Support Corporation (LISC) launched its network of Financial Opportunity Centers in 2004 to respond to the need for families to gain long-term financial stability. Piloted first in Chicago, then expanded to Indianapolis (under Centers for Working Families), Detroit, and the Twin Cities, LISC now supports 65 centers in 25 cities. In 2012, over 13,000 participants received bundled services, nearly 75% achieved at least one employment or financial goal, and over 30% achieved at least one major economic outcome – increase in net income, increase in credit score, long-term job retention, or increase in net worth.
- Participants who engage in three services are 2 times more likely to see improvements in key financial outcomes than those getting only two services
- 3,940 people employed
- Over $3.4MM in benefits helping the financail bottom line of participants
- 2,375 improved net income
- 1,252 improved net worth
- 1,526 improved their credit score
LISC is a partner in the Working Families Success Network , a collaboration of local and national institutions working to increase the financial stability of families through the integration of asset-building services. LISC created the Integrated Service Delivery website to help practitioners access the tools and resources in building a strong model that equips families with savings and assets for a secure future.
What is LISC?
The Local Initiatives Support Corporation (LISC) is dedicated to helping community residents transform distressed neighborhoods into healthy and sustainable communities of choice and opportunity — good places to work, do business and raise children. LISC is the largest community development organization in the country with a community focus in over 30 cities and rural locations. As an intermediary organization, LISC leverages funds and capital, partnerships and political support, and the expertise needed to build capacity and strengthen urban neighborhoods. In 2012, LISC Indianapolis invested over $13 million in our neighborhoods, including loan financing, program grants, training, technical assistance, and capacity building.