Dept. of Corrections earns Financial Literacy Award

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MADISON — Gov. Scott Walker presented a 2011 Wisconsin Financial Literacy Award to the Wisconsin Department of Corrections (DOC) Monday. This, for educating prison inmates on money and personal finance as part of a comprehensive program to prepare them for successful reentry into the community.

The DOC was among eight organizations and 14 individuals presented with the Department of Financial Institutions 2011 Financial Literacy Award at the State Capitol Thursday for their work to advance and improve personal finance skills in Wisconsin schools, workplaces and communities.

DOC was recognized for its work to highlight and expand financial literacy education inside institutions with seminars that covers everything from credit and checking issues to obtaining a loan and owning a home. Last year, 1,165 inmates took more than 500 financial literacy seminars and boosted their knowledge of personal finance on the average from a score equivalent to a “D” to a “B”.

The DOC financial literacy effort formally began after 2007 when the Department implemented a statewide Pre-Release Initiative. That initiative requires each offender complete modules of instruction in subject areas determined to be essential for offender reintegration into society after release from prison.