Phoenix, Arizona suffers from one of the highest big-city poverty rates in the country. Local Initiatives Support Corporation (LISC) hopes to make an impact in Phoenix with its Financial Opportunity Centers (FOCs). The centers offer "high-impact financial planning, not for those with assets to invest but for those without them," says Michelle Sullivan, president of The Caterpillar Foundation, a LISC partner. In a study of 40,000 low-income people who sought help through FOCs, those who accessed their financial coaching and employment services were able to significantly improve their economic stability. In fact, the data shows that 74% found jobs, 78% maintained that employment over time and 76% improved their net incomes.
|Page Copy||Investments from the Caterpillar Foundation help partner, Local Initiatives Support Corporation, transform low-income neighborhoods in the U.S.|