Bessemer, Alabama Jun 2, 2022 (Issuewire.com) - Every year, 1,200,000 Americans leave prison, 80% without a bank account or a way to stay connected with their parole or probation officer or case manager. The unhappy result: 51% of reentrants go back to prison within 36 months.
With its innovative jobs-and-housing formula, ReentryCenters.com has grabbed headlines by cutting recidivism by over 60% at $0 cost to taxpayers in the state with the largest per-capita prison population, Alabama. Yet while a job and a bed is a good start, it stops short of getting reentrants banked and keeping them safely tracked and connected. Enter New Jersey-based fintech company League Network. With input from ReentryCenters.com, the NJ startup built ReentryPay.com, the first-ever online bank for reentrants, and GPS-powered ReentryApp to connect former inmates with their POs. To make the model complete, ReentryCenters.com acquired League Network, creating the tech and facility leader in the multi-billion-dollar reentry market.
Prison reform activist and retired Alabama Supreme Court Chief Justice Sue Bell Cobb counts herself among the combination’s fans. “Since 2019, Alliance Reentry Centers PBC (dba ReentryCenters.com) has proven in Alabama that its unique reentry program can significantly reduce recidivism at zero cost to taxpayers. The company's expansion promises to support an ever-larger population of participants and create a large number of direct jobs running its residential centers and its app and payment technology platforms.”
ReentryCenters.com currently owns 15 current residency facilities and plans to be 82 by early 2023. “Adding the ReentryApp technology and ReentryPay virtual bank card to the ReentryCenters.com facilities creates the first company able to serve resident reentrants in Alabama, and non-residential reentrants and case managers nationwide,” says ReentryCenters.com CEO Jerry Washburn. “Together, we address a large problem for a significantly underserved market.”
Under the terms of the stock purchase, League Network PBC becomes a wholly-owned subsidiary of Alliance Reentry Centers PBC Inc., and League Network CEO Jay Whitehead continues to lead technology development, marketing, and investor relations and serves as Alliance’s Chairman of the Board and Chief Technology Officer. League Network’s non-EB-5 investors become shareholders of Alliance. To preserve their I-526 and I-829 green card status, League Network’s EB-5 investors maintain their shareholder positions in League Network PBC. ReentryCenters.com is also backed by EB-5 international direct investors, as well as American investors and lenders.
About Alliance Reentry Centers PBC, Inc.
Founded in 2019 as a group of private residential reentry facilities by Scott Frye and Steve Green in Bessemer, Alabama, the Alliance Reentry Centers program has cut recidivism at zero taxpayer cost for hundreds of participants. Now operating as ReentryCenters.com, the company’s private reentry program provides housing, jobs, food, counseling, and transportation for men and women reentering prison. More at ReentryCenters.com.
About League Network PBC
Founded in 2016 at the New Jersey Institute of Technology as a fintech platform company, League Network’s FundMyTeam.com and MyPracticeCares.com have raised charitable funds for hundreds of education, sports and healthcare organizations. In 2021, the company added the ReentryApp.com GPS and communications app and ReentryPay.com virtual banking app to serve the underserved reentry market. More at LeagueNetwork.com, FundMyTeam.com, MyPracticeCares.com, ReentryApp.com, and ReentryPay.com.
Media Contact
ReentryCenters.com jay@leaguenetwork.com 9734939768 1616 5th Avenue N http://reentrycenters.com/
