Family Income and Wealth Building via Financial Opportunity Centers

Jun 04, 13 Family Income and Wealth Building via Financial Opportunity Centers

Financial Opportunity Centers (FOCs) are career and personal financial service centers that focus on the financial bottom line for low-to-moderate income individuals. This means changing people’s financial behavior in a way that encourages them to make a long-term commitment to increasing income, decreasing expenses, and acquiring assets. FOCs provide families with services across three areas: employment placement and career improvement; financial education and coaching; and public benefits access. These core services are integrated together and provided to clients in a bundled fashion in order to reinforce one another and to provide a multi-faceted approach to income and wealth building. The model for these centers was developed by the Annie E. Casey Foundation.

Financial Opportunity Centers’ Innovative Approach: 

  • Financial Opportunity Centers measure success by changes in participant net income, credit score, long-term job retention, and net worth over time.
  • Each FOC is built on an existing hub of community activity: trusted local agencies that have a history of exemplary service and are convenient and familiar to neighborhood residents.
  • In our experience, each service works best when delivered as part of a package with the others. As clients reduce expenses, obtain public benefits and remove barriers to employment, the net value of their earnings rises sharply, increasing their incentive to work longer and earn more. At every Center, employment and financial counselors work in tandem to help participants maximize their chances of financial
  • Toledo currently has two Financial Opportunity Centers that are open Monday – Friday.  They are located at the
    • East Toledo Family Center (1020 Varland Avenue, 419-691-1429)
    • United North Financial Opportunity Center (2860 Lagrange Street, 419-724-5640)
    • Crossroads Family Resource Center (4543 Douglas Rd, 43613, 419-475-3258)

Services are also provided by Lutheran Social Services, via their Family Stabilization Program at the following locations:

  • Fredrick DouglassCenter (1001 Indiana Avenue, 43607), Mondays
  • Scott High School (2400 Collingwood Blvd, 43620), Tuesdays
  • Robinson Elementary School (1075 Horace St, 43606), Thursdays

For more information and appointment times call Lutheran Social Services at (419) 243-9178.

For more information on Family Income and WealthBuilding, Click Here!

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