Penn East Credit Union paves the way for second chances with groundbreaking financial literacy initiative

A poignant moment during a financial literacy class session at a local correctional facility set the tone for Penn East Federal Credit Union's pioneering financial capability initiative.

While engaging with a group of younger inmates, Penn East Vice President of Marketing David Saxton was struck by one inmate's incisive question on credit scores and how to leverage them to launch a career in carpentry. Saxton explained strategies, such as using an authorized user relationship on a family member's credit card to rebuild credit.

"He seemed very interested in it (along with) little tips that he seemed to really appreciate," Saxton said.

Dickson City, Pa.-based Penn East is redefining its community service role. By extending its services beyond the brick-and-mortar branch, the credit union has stepped into a challenging environment—providing financial literacy training within the confines of Wayne County Correction Facility.

This initiative was born out of a collaborative outreach effort, involving the CrossState Credit Union Association and the National Sheriffs Association's IGNITE (Inmate Growth Naturally and Intentionally Through Education) program. This national program promotes rehabilitative education programs for incarcerated individuals.

IGNITE reached out to one of its advisory board members—Russell Sawyer, America's Credit Unions' vice president of leagues and industry relations—for help in identifying a credit union in the Honesdale, Pa., correctional facility's area that might be willing to help. Sawyer then reached out to CrossState for possible candidates, which led to the eventual connection with Penn East.

Stepping out of the comfort zone

Saxton's visits began two months ago. His journey into this unconventional setting was both personal and professional.

"I firmly believe in giving people second chances," Saxton said. "There's an element of intimidation when you first step into that environment. I, personally, thankfully had never been to a prison, had never visited on my own free time. And you know, there is an intimidation factor in all of that."

Despite his initial apprehensions stirred by the unfamiliar, austere environment, the reassurance from prison staff—most notably from Jennifer Geyer, the facility's activity coordinator—quickly began to ease his fears.

"I felt very reassured at that point," he recalled, a moment that transformed his anxiety into a resolute commitment. His belief in the credit union movement's mantra, "people helping people," resonated strongly with the program's objectives.

"David Saxton … is one of our IGNITE volunteers who visits twice a month to teach basic banking to the inmates," said Geyer. "With David, along with our other IGNITE volunteers, we hope to break incarceration cycles and equip individuals with the tools necessary for reintegration."

Training sessions delve into a suite of essential financial topics. Saxton covers the nuances of credit scores, techniques for credit recovery, and the benefits of products like second-chance checking accounts. His presentations also touch on navigating post-bankruptcy life, tailoring each session based on the varying levels of financial experience among participants. Through interactive discussions and practical tips, the program not only educates but also empowers inmates with the tools needed to reestablish their financial footing upon release.

"I'm learning something new every time," said Saxton, who has committed to at least a full year of guiding the IGNITE sessions.

Saxton views each session as an opportunity to learn and refine the program. The innovative use of technology, combined with sensitive engagement tailored to the inmates' unique experiences, is already making a tangible difference.

A 'financial second sentence'

Research has long highlighted that incarceration often imposes a "financial second sentence" on returning citizens. Studies show that the collateral costs—from fees and fines to mounting debt and damaged credit scores—create profound barriers to successful reentry, affecting not only the individuals but their families and communities as well.

This systemic imbalance underscores why innovative outreach—such as Penn East's tailored financial education, second-chance banking products, and holistic community support—is vital in empowering justice-involved individuals to rebuild their financial stability and secure a dignified re-entry.

"As someone born as a congenital amputee, I've spent my life navigating systems that weren't built with me in mind," Saxton said. "I understand what it means to adapt, to be underestimated, and to keep moving forward anyway. That's why I believe so strongly in financial literacy for all—it's not just about money, it's about independence, access, and giving people a fair shot at building something better."

While traditional metrics like ROI and KPIs rarely capture the full essence of community impact, Saxton emphasizes that the true measure of success is in the community's overall wellness.

More than metrics

"This isn't about the numbers—it's about preparing individuals to lead independent, responsible lives in our community," he explained. His words advocate for a broader vision in financial services, where empowering marginalized populations ultimately benefits the entire community.

"Every single community has an opportunity to help the people at the bottom, and that only helps everyone else," Saxton said. "It doesn't necessarily have to be in the prison system, but I think we could expand it into other demographics that really need our help, because I see it all the time. I'm sure we all do. But for these kinds of programs, there are no KPIs. It's about community wellness."

As Penn East Federal Credit Union continues to expand this evolving program, it sets a high bar for community-centric banking. In an era where financial institutions are increasingly expected to serve broader societal roles, initiatives like these underscore the transformative potential of marrying financial literacy with genuine community outreach. 

The message is clear: when every member of a community is equipped with the tools to succeed financially, everyone benefits.