West Lafayette-based Purdue Federal Credit Union reviewed the past year of its Financial Empowerment Program.

The program was designed to equip individuals with tools, resources and knowledge to take control of their financial future. Participants learn about budgeting, saving, debt reduction and other aspects of money management to foster financial stability.

In 2024, the Financial Empowerment Program engaged 12 members who participated in workshops, individual coaching and educational sessions. Lamont Outlay participated in the program.

“After being incarcerated for six years, I came home unsure of where to start,” Outlay said in a press release. “Through this program with Purdue Federal, I gained access to services, which helped me rebuild my financial foundation.”

Outlay added that when he started the program, he struggled to access financial opportunities due to his credit score. Within a year, his credit score has risen to 720. Outlay now has a personal loan, steady income and is on track to apply for a home loan with Purdue Federal.

“My experience has been overwhelmingly positive, largely in part to Colleen Shepherd, who has been by my side every step of the way,” Outlay said. “She’s helped me set up appointments, answered all my questions and ensured I had everything I needed. The entire Purdue Federal staff has been incredibly supportive, making me feel valued and empowered throughout this process.”

Purdue Federal Credit Union plans to expand the initiative to reach more members in the community.

Purdue Federal Credit Union was founded on Purdue University’s West Lafayette campus in 1969. Its membership base includes students, faculty, staff and communities where Purdue University and its regional campuses operate. The credit union is a member-owned financial cooperative with more than 100,000 members nationwide.