By: Ashmar Mandou

The City of Chicago is providing an opportunity for recently incarcerated individuals returning home. As financial instability can be a leading barrier to an effective reentry after incarceration, the Chicago Treasurer’s Office (CTO) recently announced the launch of The Second Act: Second Chances program, with the help of the Mayor’s Office. The program will specialize in financial education workshop at the 2025 Money Matters Institute (MMI).

“Reentry is about more than just finding a job—it’s about long-term financial security,” said Chicago City Treasurer Melissa Conyears-Ervin. “This initiative equips returning citizens with the tools they need to build a new life, break free from cycles of poverty and re-incarceration, and contribute to the financial well-being of their communities.” This initiative offers the critical financial tools needed to help returning citizens rebuild their lives. In April of 2024, City Treasurer Conyears-Ervin collaborated with Chase Bank, the Chicago Urban League, and TransUnion to create MMI to offer Chicagoans of all ages and incomes with money management skills and knowledge.

This month, in partnership with the Mayor’s Office of Reentry, local banks, and nonprofit organizations, The Second Act: Second Chances will begin to provide returning citizens with customized financial education tailored to their needs. Key topics will include:

• 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.