The Financial Coaching Program has expanded Lao Family’s asset-building program by providing free one-on-one coaching and counseling to assist low-income families build assets and wealth. Through one-on-one meetings with a financial coach, clients self-identify financial goals such as establishing credit, reducing debt, and saving for retirement and homeownership.
The financial coach works with clients to develop an action plan and supports them as they work towards reaching their goals. The Financial Coaching program seeks to:
- Empower low-income clients to define financial goals for themselves and attain those goals
- Change clients’ financial behaviors
- Increase clients’ financial literacy
- Improve clients’ financial condition
- Build clients’ assets and wealth
- Provide resources and referrals to clients
- Act as a support to clients as they work to achieve their financial goals
Lao Family’s Asset Development department provides financial education through financial literacy workshops and one-on-one financial counseling. The financial education curriculum includes budgeting, money management, building and repairing credit.
- Bank on Oakland- This program allows unbanked individuals access low-cost checking accounts.
- MyFico.com- provides comprehensive information to help you understand your FICO score.
- AnnualCreditReport.com- This is the official site to help you access your free credit report mandated by law. It is sponsored jointly by the three major credit bureaus: Equifax, Experian, and Transunion. Please note that this website only provides your credit report and NOT your score.
Income Support Services
Lao Family assists clients who are eligible for income supports such as affordable medical care, childcare and other public benefits. These services help our clients jump-start their savings plans.