Retired mortgage expert helps inmates with banking basics

Retired mortgage expert helps inmates with banking basics
(Source: KARK)
(Source: KARK)

LITTLE ROCK, AR (KAIT/KARK) - The key to reducing the number of repeat offenders behind bars in Arkansas may come down to banking basics, according to a report by NBC Affiliate KARK.

Richard Gillespie has for the past 20 years to provide the state's inmate population with financial literacy.

During his lesson, step on is always establishing credit.

"Without a credit score, you're going to have a hard time buying a home or getting a credit card or anything else," Gillespie said.

Many of the inmates are willing to learn as Gillespie teaches everything from managing a checking account to obtaining a mortgage with a criminal record.

Gillespie also recommends Our House in Little Rock for banking help as well.

Their career center offers individual, group, computer-based, and classroom-based opportunities for repairing credit, budgeting, buying a home, and more.

Copyright 2017 KAIT. All rights reserved.

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