LISC AmeriCorps Economic Mobility Corps Financial Coach
CEO has partnered with the Local Initiative Support Corporation (LISC) on a new national service program to provide financial literacy, financial planning, budgeting, saving, and other financial counseling education to clients — all with an eye toward addressing persistent poverty and helping families build a stronger future. CEO and IRC are recruiting 13 full-time Economic Mobility Corps (EMC) AmeriCorps members to serve as Financial Coaches co-located with IRC offices and integrated into local asset-building programs.
This is an AmeriCorps position sponsored by the Local Initiatives Support Corporation, with the term lasting 1 year. Compensation and benefits are paid and provided by LISC, and include:
· Full time member will serve 1700 hours & term of 12 months
· $20,000 stipend payable in 24 equal installments over a 12-month period directly by LISC
· Eligibility for a 100% premium paid Bronze level health care benefit and/or a child care benefit if the member is the primary care giver of a child aged 13 and under
· $6,345 education award to return to school or pay off existing student loan debt upon successful program completion
· CDFI 101 and Credit as an Asset Certificate, as well as training in Financial Coaching during the program
Financial counseling and coaching involve an ability to engage and motivate clients, a strong understanding of personal finances, and the ability to teach that knowledge to others. The Financial Coach is responsible for assisting clients in developing plans that help them reach their goals and achieve financial stability. Coaches will provide financial literacy, financial planning, budgeting, saving, and other financial counseling education in 1:1 and group settings. Additionally, the Financial Coach may support tax preparation services and will also assist clients in completing applications for targeted loan products including credit-building, education, immigration, and auto loans. The position will be hosted by the IRC in Oakland and will meet monthly with the CEO team as well as other EMC Financial Coaches to share insights and experiences.
1. Community Outreach
· Support development and execution of marketing strategies to recruit new clients to IRC’s financial counseling services; Conduct community outreach and recruitment of new clients to the IRC’s financial counseling and planning services and programs; assist or conduct one-on-one or group orientation sessions for new program clients
· Conduct follow-ups with program clients to help them stay engaged to achieve their goals
2. Provide one on one financial counseling and coaching
· Assist clients in assessing and resolving current financial challenges, while providing a wide lens on their financial health to shift the approach to proactive financial management
· Develop plans of action and provide tools, resources, and promote accountability to clients to help them meet their goals
· Work with clients to complete a detailed financial assessment, including budgeting and strategies for building credit and net assets
· Understand and collaborate with colleagues providing other services offered by the IRC, such as employment, career development, case management, and education service
3. Workshop and training delivery
· Develop workshop materials or tailor existing materials to meet the needs of the community. Workshop topics should be relevant to the community, and may include topics such as: budgeting, savings, banking products, credit building, and identity theft.
· Schedule and deliver workshops and trainings
· Collaborate with partners to expand financial literacy support to community members and provide community-based classes
4. Connection to Financial Products
· Support clients in signing up for low-cost checking and savings accounts
· Support clients in applying for credit-building or other consumer loans through CEO or other appropriate, accessible financial institutions in furtherance of client’s financial goals;
· Conduct regular financial health check-ins with participants in CEO’s Credit-Building Ladder program
5. Housing Support
· Communicate with IRC housing team, local agencies, property managers, and community stakeholders to secure housing for clients
· Provide rental assistance or application support to find housing
· Provide first time homebuyer education in a group or nor-on-one session
· Help clients apply for rent relief/ eviction cash assistance programs
· Pilot and help improve CEO’s new Rent Pre-Payment Program
6. Outcome tracking
· Use Efforts to Outcome (ETO), client management system, to document and reflect client outcomes accurately and in a timely manner.
· Complete Family budgets and net worth worksheets for financial counseling clients, as well as recording credit reports.