Waymart Inmates Participate in Banking Basics Course

​On Oct. 31, Becky MacDicken, outreach specialist from the Department of Banking and Securities, facilitated four sessions of Banking and Credit Basics to approximately 85 inmates at SCI Waymart. The workshop focused on the importance of personal credit and "being banked" upon release from incarceration. The information MacDicken provided showcased the various types of financial institutions available, from national banks to credit unions and non-traditional banking services such as online only banks. The discussion also put into perspective fees associated with not having a bank and using "Alternative Banking Services."

In the second half of the 75-minute workshop, the emphasis was on personal credit. Information was provided for obtaining a credit report from the three credit bureaus, correcting information reported to the credit bureaus, how a personal credit score is calculated, how to build good credit, and the benefits of having a strong credit score.

During and following MacDicken's presentation, the participants were afforded the opportunity to ask questions related to banking and credit. All participants were also provided with a list with helpful contact information related to finance and credit resources.