Concordance says re-entry program cuts reincarceration by 56%,
builds financial health for participants
COLUMBIA, S.C., Aug. 2, 2023
/PRNewswire/ -- Wells Fargo Bank, N.A. is supporting a
national expansion of Concordance, a nonprofit with a proven record
of reducing repeat criminal offenses from individuals returning to
the community. The company plans to donate up to $60 million to help focus on advancing financial
health and stability for Concordance participants.
The new funding is "transformative," according to Concordance
officials, in accelerating plans to open 40 new "healing first"
centers nationwide over the next eight years. The program is
expanding to South Carolina for
the first time with a new center in Greenville-Spartanburg and aims to open its doors to
program participants in 2024.
"Our evidence-based model breaks the generational cycle of
crime, transforms communities, and changes racial equity for the
better," said Danny Ludeman,
chairman and CEO of Concordance. "It's a holistic program that
provides a structured pathway for successful re-entry into society
and lowers crime and reincarceration rates in the process."
According to the Prison Policy Initiative, more than one million
people are held in state penitentiaries, including about 60% who
are Black or Hispanic. Of those one million individuals, 71% will
be re-arrested within a three-to-five-year period after committing
additional offenses and will be imprisoned on average seven times
in their lifetimes.
"Wells Fargo is committed to strengthening underserved
communities and building a more inclusive economy," said Wells
Fargo CEO Charles Scharf.
"Concordance's mission of helping people build a new life and learn
lasting financial skills aligns well with our desire to have a
positive community impact."
Concordance's re-entry program is based on insights discovered
after three years of research uncovering the root causes of repeat
criminal offenders, which include consequences of a childhood
traumatic event, substance abuse, mental health disorders, and low
education and work skills. The 18-month program begins prior to
release from prison and addresses the root causes of
reincarceration through mental and behavioral health treatment,
substance use treatment, education and job training, and more, with
Wells Fargo's support bringing additional financial education and
counseling.
"Our alliance with Concordance and Wells Fargo creates a ripple
effect of reducing crime, restoring families, and cutting the
strain on public resources," said David
Steward, founder and chairman of World Wide Technology, the
largest U.S. Black-owned company, and Chair of Concordance's First
Chance campaign. "I have witnessed Concordance's success,
especially within Black and brown communities."
World Wide Technology is providing technology and services
needed at each new Concordance center as well as supporting job
education and training.
About Concordance
Concordance is a CARF-accredited nonprofit that offers the
country's first set of integrated, holistic, and evidence-informed
services to individuals returning to society from prison. Founded
in 2015 by Danny Ludeman, former CEO
of Wells Fargo Advisors, Concordance has lowered the rate of
reincarceration among its participants who have released from
prison in the last three years by 56 percent. The nonprofit works
with individuals in pre-release and post-release and assists them
in three primary areas: behavioral health and wellness; education
and employment; and community and life skills. Concordance is
committed to healing individuals, reuniting families, transforming
communities, achieving racial equity, and advancing the field of
re-entry services. Headquartered in St.
Louis, Concordance is working toward national expansion,
with plans to bring its re-entry model to 40 centers nationwide
over the next 8 years. For more information, visit
http://www.concordance.org/. Resources for news media including
fact sheets, photos, and videos are available at
https://concordance.org/media-kit/
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading
financial services company that has approximately $1.9 trillion in assets, proudly serves one in
three U.S. households and more than 10% of small businesses in the
U.S., and is a leading middle market banking provider in the U.S.
We provide a diversified set of banking, investment and mortgage
products and services, as well as consumer and commercial finance,
through our four reportable operating segments: Consumer Banking
and Lending, Commercial Banking, Corporate and Investment Banking,
and Wealth & Investment Management. Wells Fargo ranked No. 47 on Fortune's 2023 rankings
of America's largest corporations. In the communities we serve, the
company focuses its social impact on building a sustainable,
inclusive future for all by supporting housing affordability, small
business growth, financial health, and a low-carbon economy.
News, insights, and perspectives from Wells Fargo are also
available at Wells Fargo Stories.
Additional information may be found at www.wellsfargo.com |
Twitter: @WellsFargo
About World Wide Technology
World Wide Technology (WWT), a global technology solutions provider
with $14.5 billion in annual revenue,
combines the power of strategy, execution, and partnership to
accelerate transformational outcomes for large public and private
organizations around the world. Through its Advanced Technology
Center, a collaborative ecosystem of the world's most advanced
hardware and software solutions, WWT helps customers and partners
conceptualize, test and validate innovative technology solutions
for the best business outcomes and then deploys them at scale
through its 4 million square feet of global warehousing,
distribution and integration space. With over 8,000 employees and
more than 55 locations around the world, WWT's culture, built on a
set of core values and established leadership philosophies, has
been recognized 11 years in a row by Fortune and Great
Place to Work® for its unique blend of determination, innovation
and leadership for diversity and inclusion. With this culture at
its foundation, WWT bridges the gap between business and technology
to make a new world happen for its customers, partners and
communities.
Media Contact
Tim Bolton
tbolton@apcoworldwide.com
Kim
Erlichson
kim.erlichson@wellsfargo.com
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SOURCE Concordance