Asset Building

Oakland One-Stop Career Center

Improving Access to Appropriate Financial Services and Products

Connecting residents to mainstream
financial services
Many urban and rural communities throughout the country have limited access to mainstream financial institutions. LISC will work with local community partners to identify market potential for mainstream financial services.

Developing low-cost financial products
Many residents are just beginning to institute financial plans for themselves, and mainstream financial institutions need to offer products appropriate to this emerging market, which includes people with poor credit, savings and employment histories. LISC will help our community-based partners work with mainstream financial institutions to develop appropriate financial service products, such as alternative payday loans or second chance accounts.

Developing Community-Based Asset Building Programs

Community-based organizations know the community, are trusted by residents and are seen as resources by low-to-moderate income people in ways that banks and credit unions are not. Thus, these organizations are sometimes the best mechanisms for creating and delivering programs that serve the unique needs of their communities. LISC will help community-based organizations develop asset building programs such as Individual Development Accounts, financial education and coaching, homeownership counseling and tax preparation assistance.