• Budgeting & Financial Planning: Developing strategies for managing limited resources effectively.
• Credit Repair & Banking Access: Rebuilding financial credibility and establishing banking relationships.
• Debt Reduction & Employment Support: Connecting participants with job readiness and debt reduction resources.
According to City Treasurer Conyears-Ervin, participants will have access to one-on-one financial counseling with HUD-certified advisors. Joseph Mapp, Director of the Office of Reentry, added, “The Office of Reentry is proud to partner with Chicago’s Treasurer’s Office to offer an invaluable service. For many, crime is not about inherent malicious intent—it starts as a means of survival, a way to secure money when no other options seem available. Unfortunately, leaving prison often means returning to the same financial hardships that led to incarceration in the first place. That’s why employment alone is not enough. Financial literacy is critical to breaking cycles of poverty and recidivism.”
In addition, CTO shared that 60 percent of returning citizens remain unemployed a year after release, and 75 percent face substantial financial debt, including court fees and loans, which hinder their path to stability. Additionally, formerly incarcerated individuals are ten times more likely to experience homelessness due to financial instability. For more information about The Second Act: Second Chances and other MMI programs, visit www.chicagocitytreasurer.com/MMI.
Content courtesy of Ashmar Mandou
