Our Mission
finEQUITY accelerates the prison-to-prosperity pipeline and addresses the financial toll that incarceration has on families by filling financial voids, establishing financial histories, and offering no-cost financial services.
Our Problems to Solve
Justice-impacted individuals face systemic financial exclusion, making it difficult to achieve long-term stability even after securing employment. 70% remain financially unstable, carrying an average of $13,000 in criminal justice debt and lacking even $400 in savings. Many face housing denials due to poor credit, wage garnishments, and limited access to financial services, making them vulnerable to economic shocks. This financial instability fuels recidivism, homelessness, and job loss.
Impact of Incarceration
Every additional year of incarceration has long-term consequences on one’s finances. In particular, community members returning home will encounter great difficulty accessing essential assets and services due to the impact incarceration had on their credit reputation. Credit scores of the formerly incarcerated are at least 50 points lower than those with no incarceration experience. Each year of incarceration can drop one’s credit score by 32 points.
Invisible Credit
Around 30% of formerly incarcerated community members have no credit score whatsoever. Furthermore, the vast majority of people returning home from prison will not have sufficiently recent credit history to access most financial services.
Discrimination
Formerly incarcerated people face steep financial barriers upon reentry, often returning home with significant debt. Court fines, legal fees, restitution, and unpaid bills accrued during incarceration create a heavy financial burden from the start. Once home, many individuals find themselves locked out of mainstream banking due to discrimination, lack of credit history, or documentation barriers. Without access to fair and affordable credit, they are often forced to turn to payday lenders and other high-interest financial services that aggressively market themselves as easy solutions. The result is a cycle of debt that’s hard to escape. Even basic services — like setting up a phone plan, paying for utilities, or securing housing — frequently come with elevated fees or require high deposits. This system pushes people further into debt just to access essentials and rebuild their lives.
Why We Exist
Over 600,000 people are released from incarceration annually in the U.S.
One in three justice-impacted individuals is denied housing due to credit issues, forcing many into unstable living conditions.
More than 60% of justice-impacted workers experience wage garnishments, making it harder to recover financially.
