Industrial Bank Financial Empowerment Program with The Department of Corrections Serves Incarcerated Individuals

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Dec 11, 2018, 08:30 ET

WASHINGTON, Dec. 11, 2018 /PRNewswire/ -- This month over 1 million Florida felons have won the right to vote. As the successful re-entry of previously incarcerated citizens raises national focus and law reform, Industrial Bank becomes the leader and proponent. Recognizing the need for financial knowledge, at the beginning of 2018, Industrial Bank began financial literacy training within the walls of a DC Jail. By bringing awareness and financial knowledge to these communities, Industrial Bank hopes to support successful release transition and economic growth in their communities. The National Capability Study by the FINRA Foundation, which surveyed 27,564 American adults, concluded that two-thirds of Americans are challenged with comprehending a basic financial literacy test. This staggering national issue impacts even greater numbers among the underserved communities of incarcerated citizens.

Ceremony for the Young Men Emerging (Y-ME) Unit with Industrial Bank Managers and DC Department of Corrections personnel. (Courtesy of DC Department of Corrections)

As one component of Industrial Bank's recent launch of the Footprints To Your Financial Future campaign, Industrial Bank continues to host numerous financial literacy workshops. The program partnership with Clinique Chapman, Program Manager and Forensic Social Worker at the D.C. Department of Corrections, began with two initial cohorts consisting of residents in both medium- and maximum-security levels. In addition, one of the two recent cohorts included men from the Young Men Emerging (Y-ME) Unit, 18-25 years of age. Earl J. Hollimon, DC Jail Program Analyst expressed that "Industrial Bank's Financial Workshop in the DC Jail was a much-needed resource to help our population build a pathway to the desired future that our young men want."

Earning their way through the program, with attendance and participation, the DC Jail workshop attendees were awarded certificates of completion. Financial literacy is an essential tool in order to make sound and productive decisions, but such knowledge often escapes many of those within the criminal justice system, specifically those who have been incarcerated for long periods of time. The financial literacy training led by Industrial Bank is ongoing and empowers participants to return to society as capable and productive citizens with financial awareness on their list of life planning skills.

ABOUT INDUSTRIAL BANK: Industrial Bank is one of the largest African American owned banks in the United States. Since 1934, Industrial Bank has been a strong partner for small and large businesses, homeowners, and personal banking account customers in the Washington, DC and surrounding metropolitan areas.

Contact:
Towan Isom
[email protected]
202-347-3374
www.industrial-bank.com

SOURCE Industrial Bank