Veterans Financial Coalition Formed to Serve Financial Needs of Transitioning Veterans

A new coalition to serve the needs of transitioning veterans was formed last month, and includes a partnership between five major consumer organizations including Military Saves and our coordinating organization Consumer Federation of America (CFA). The new Veterans Financial Coalition will work to improve the financial security of the nation’s growing veteran population as they return to civilian life.

Along with Military Saves and CFA, coalition members include the nonprofit organizations Consumer Action and Association for Financial Counseling and Planning Education (AFCPE), as well as Visa Inc. The coalition aims to help guide the transition into civilian life for servicemembers leaving the military by offering helpful financial resources, providing financial education for veterans, and community organizations serving veterans, and raising awareness for the unique financial challenges that veterans face.

Coalition resources that are available for veterans include budgeting and saving tips, tax break information, and educational games. Materials and resources from Veterans Financial Coalition members can be viewed on the “Resources” page of the coalition’s website at veteransfinancialcoalition.com.

Additionally, there are plans to create a new train-the-trainer program for community based organizations who serve veterans, being developed by coalition partner, Consumer Action. “There is a critical need to reach and educate veterans who are often preyed on by bad actors and to provide them with the knowledge they need to protect themselves and prosper financially," said Ken McEldowney, Consumer Action's Executive Director. "With proper training, education, and access to appropriate resources, we believe veterans can make informed decisions about their financial futures."

Consumer Action will create a comprehensive education module and host a series of training programs for community based organizations in cities with large veteran populations. The first two programs will be held in San Diego, CA and Virginia Beach, VA this September.

Also available is a social media toolkit with information about the coalition, for community organizations serving veterans needs. The toolkit can be used by organizations to get the word out about the new coalition and the resources that each coalition member offers to veterans who may be dealing with financial hardship.

For more information on the coalition and the work each partner does, including Military Saves, visit the “About Us” page at the Veterans Financial Coalition’s website. And don’t forget that veterans can also take the Military Saves pledge to set a financial goal and receive free resources to help them get on the path to financial stability. Take the pledge today at MilitarySaves.org/take-the-pledge.

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