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Foundation Communities’ One-stop Financial Center

Foundation Communities’ One-stop Financial Center. Julian Huerta, Deputy Executive Director Julian.huerta@foundcom.org. Foundation Communities:. Founded in 1989 in Austin 17 properties with more than 2,500 units in Austin and North Texas.

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Foundation Communities’ One-stop Financial Center

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  1. Foundation Communities’ One-stop Financial Center Julian Huerta, Deputy Executive Director Julian.huerta@foundcom.org

  2. Foundation Communities: • Founded in 1989 in Austin • 17 properties with more than 2,500 units in Austin and North Texas • Extensive on-sitesupportive services for residents • Financial Programs serve more than 25,000 families

  3. Chronology of Financial Stability Programming

  4. Creating a One-stop Financial Center • Primary objective: expand focus from just tax prep • Wanted highly visible year-round location with easy access for clients • Chose stand-alone model • Include key partners throughout the year

  5. Services offered at theCommunity Financial Center Small Business Coaching Scholarship Mentoring Savings Bond Promotion Tax Preparation The Community Financial Center ITIN Acceptance Agent Financial Coaching FAFSA Preparation Financial Education Classes Payday Loan Alternatives

  6. FC’s Community Financial Center • Tax prep is the primary gateway for clients • Referrals come from all over, especially 211 • Combination of appointments and walk-ins • Paid staff plus lots of volunteers • Training for staff, volunteers and partners throughout the year

  7. Key Metrics and Outcomes: 2012 • More than 17,000 tax returns (6,500 at CFC) • $30 Million in refunds • 685 clients purchased Savings Bonds • 1029 FAFSAs completed • 363 clients in Financial Coaching • More than 200 completed Financial Education • 58% of financial coaching clients increased their credit score after 6 months • 64% of financial education graduates increased their savings

  8. Budget/Sustainability • Annual Budget for FC Financial Stability programs: $1 million. • Most of this spent at or through our Community Financial Center • Key Funders: • City of Austin • United Way for Greater Austin • Michael and Susan Dell Foundation • IRS/VITA

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