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.

Tip of the Day

  • Written by Guest Blogger | September 30, 2014

    The Thrift Savings Plan (TSP) offers the same types of savings and tax benefits that many private corporations offer their employees under 401(k) plans. Sign up or get more info at tsp.gov

Saver Stories View all »

When You Start Small, Saving is Easy

Written by Lila Quintiliani | August 12, 2019

When Attiyya first got married, she and her Marine husband had just graduated from college and were focused on paying off student loan debt. They had both attended private schools and had sizeable loans. Then three months after the wedding, the couple found out they were pregnant with their first child.

The first year of their marriage, says Attiyya, was a balancing act between paying down debt and saving for the future.

Read more...

Involving Kids in Family Finances

Written by | April 19, 2019

 

One of the best lessons we can share with our kids is about money. By middle school, kids should have a good understanding of how money works as well as the importance of saving.

Read more...

How Smart Financial Decisions Can Create Opportunities 

Written by | November 22, 2019

Written by Stephen Ross, America Saves Program Coordinator | November 22, 2019

Of the many stories Military Saves shares, most describe how someone was in dire straits financially and worked their way out of it with the help of Military Saves. This time we want to highlight a different kind of story. This is a story about how responsible financial decisions can build on one another to create opportunities you thought only the super-rich enjoy.

Read more...