Bank On WA - Justice & Finance Forum: Fostering Economic Resilience

June 25, 2024
Presented by:
-Ruth Utnage, Consultant
-Jerrel Jones, Credit Revolution Education Directors
-Moderated by Tierra Bonds, Take Charge Credit Consulting
One in 5 people in the US have an experience within the justice system. People who have been impacted face steep barriers to financial stability and wellbeing. Though they may be very savvy, many people have a lack of financial knowledge and understanding of how to navigate financial systems that are continuously evolving. Justice involved individuals often struggle to access records, documents, and identification, may owe court fees and fines, are more likely to be the victim of fraud or identity theft, and may face collections and garnishments on past-due debt.
Additionally, 29% of formerly incarcerated people lack a bank account. Banking access is shown to increase peoples’ ability to achieve their financial goals, improve their reintegration into society, and may reduce recidivism rates. This is a market largely underserved by mainstream financial services.
However, models exist to support the financial inclusion of justice-involved individuals. Watch the session to learn from community members who were formerly incarcerated about the barriers to financial access and challenges to meeting their financial goals. They share solutions and resources that we can use to improve the experience of justice-involved individuals in financial institutions and community-based organizations.
Materials and resources shared in this session are available here: www.fenwa.org/...
Check out more resources for justice-impacted individuals here: www.fenwa.org/...
Have a resource to share? Please let us know here: bit.ly/FEN-Res... We will use them to build the new resource page on our website!