April is National Financial Literacy Month, a time dedicated to highlighting the importance of financial education and empowerment. Yet for many clients who have been released after wrongful conviction, financial literacy is not just a tool for success; it is a matter of survival.
After spending 5, 10, 15, or even 20+ years behind bars for crimes they did not commit, clients often re-enter society with little to no financial resources, limited access to employment opportunities, and without the basic financial knowledge many of us take for granted. The logistical challenges they face are staggering.
1. No Credit History or Severely Damaged Credit
Time in prison often means a complete lack of financial activity, resulting in no credit history. Without a credit score, clients who have been released from prison find it nearly impossible to secure housing, obtain loans, or even open basic bank accounts.
2. Lack of Identification and Banking Access
Many individuals are released without current government-issued IDs, complicating efforts to access essential services, apply for jobs, or establish financial accounts.
3. Employment Barriers
Even after being declared innocent, exonerees face gaps in their work history that make securing employment difficult. Employers may be hesitant, and many exonerees have never used modern workplace technology (smartphones, computers) due to years lost behind bars. For clients who have been released but not yet legally exonerated, these challenges are compounded. A pending legal status can create confusion or mistrust for employers and limit access to professional licensing or background checks, even though the individual is no longer incarcerated. This legal limbo can trap innocent people in long-term unemployment or underemployment.
4. Housing Instability
Affordable housing often requires a background check, a steady income, and a credit history — all significant barriers for someone recently released after wrongful incarceration.
5. No Access to Social Safety Nets
In many states, exonerees are not automatically eligible for reentry programs or social services intended for the formerly incarcerated. Compensation laws vary widely, and the process to seek restitution can be long and retraumatizing.
At Rocky Mountain Innocence Center, we believe that freedom must be more than just release from a prison cell. It must include the opportunity to rebuild a life with dignity, security, and support. Financial literacy programs specifically tailored to exonerees are a critical part of that journey.
This Financial Literacy Month, we invite you to stand with us in advocating for systemic change — from fair compensation laws to expanded financial education services — and to recognize the full scope of what it means to free the innocent.