Family Asset Building
Economic stability depends on the capacity of an individual or family to build assets: a home, a business, higher education and training, and supportive networks. These assets are a foundation for local economic progress, but too many families in our community lack the opportunity to create them.
LCW knows that in order for our members to thrive, developing tangible and intangible assets is key. The Family Asset Building (FAB) department of LCW enables families to achieve their full potential through building savings, skills, peer support, and literacy of all kinds. FAB programs include:
Individual Development Accounts (IDA): match participant savings (3:1 or 4:1) towards sustainable asset ownership, while providing intensive financial literacy training, credit counseling, and peer support.
The Homeownership Center: pre- and post-purchase education and 1:1 counseling that guides participants through every step leading to the purchase of a home, and to becoming a successful owner. This also includes intensive foreclosure prevention and mitigation work to combat the local fallout from the sub-prime mortgage crisis.
The New Skills Academy: a 6-month intensive workforce training program in basic accounting, ESL, computer technology, and "soft" or workplace skills (teamwork, professional etiquette, etc.) to prepare participants for entry-level jobs in administrative careers.
Adult Learning: Courses in basic and intermediate ESL, GED, computer skills, financial literacy, and other areas that our members identify as necessary for family progress.
Partnerships: is the key to FAB's success. Local banks, state agencies, community colleges, credit unions, businesses, and other nonprofits all provide valuable in-kind support as guest speakers, advisors, co-trainers, and mentors to staff and participants.
Underlying all FAB programs is a belief in the power of the Network: our participants develop strong connections with each other that provide practical and emotional support lasting beyond one class or program. FAB also offers a range of volunteer and paid internships that further strengthen participants' skills and involvement in the larger community. Programs take place in a context that links members to leadership development, program development, and community service—ensuring that people are giving as well as getting--helping themselves and their community.