Open Society Institute-Baltimore, a non-profit organization specializing in issues surrounding drug addiction, educational success, and incarceration, estimates that every year 9,000 individuals are re-absorbed into the Baltimore community following prison sentences. However, those ex-offenders often have difficulty emerging into employment and economic activity after their time is served. One key factor affecting successful integration into outside life for former prisoners is access to financial institutions and credit.
Annie Spain, manager of PNC Bank's Charles Village branch, has linked up with the Prisoners Aid Association of Maryland to provide ex-offenders with classes on money management, checking accounts, and secured credit cards that allow them to get back on the grid and into good standing. Solid credit opens up home ownership and educational opportunities, and even eases employment searches. Having worked at another bank previously, Spain says she liked what PNC was doing in the community: "It matched my personality."
Prisoners Aid head Michael Brown likes what PNC is doing in his neighborhood as well. As to the importance of banking access, Brown says simply, "It's invaluable." Many low to moderate income households--with or without criminal records--do not hold bank accounts and therefore must use check-cashing businesses that charge high interest rates. Others had good credit at one time but saw their finances ravaged by addiction and incarceration. By promoting financial literacy combined with available banking resources, Brown says PNC's work in Charles Village and surrounding neighborhoods has been "healthy and good for [his] clients."
Writer: Sam Hopkins
Sources: Annie Spain, Branch Manager, Charles Village PNC; Michael Brown, Executive Director, Prisoners Aid Association of Maryland