“The Veterans Benefits Banking Program launched in 2019 to supply Veterans, beneficiaries, and caregivers with a secure, dependable, and cheap strategy to entry their financial advantages,” mentioned Major General (Ret.) Steven J. Lepper, American Military Banks of America president and CEO. “What began with 4 monetary establishments has grown to 86 and counting.”
The Department of Veterans Affairs, a founding associate of VBBP, shared how VBBP delivered to mild different monetary points distinctive to the Veteran neighborhood. VA Secretary McDonough: “Veterans should get their advantages within the most secure, most safe means doable — and that is what the Veterans Benefits Banking Program delivers. Expanding this nice program, to incorporate monetary counseling and schooling, could have an actual impression on Veterans’ lives [by] serving to shield and develop the advantages they’ve earned.”
The partnership behind VetCents contains monetary wellness supplier LifeCents who created the personalized monetary well being platform for Veterans, beneficiaries, and caregivers to entry monetary wellness instruments and sources.
“VetCents is a next-generation strategy to enhance entry for Veterans, beneficiaries, and caregivers to the myriad of advantages out there to them via the VA,” mentioned Blake Allison, CEO and Founder, LifeCents. “It additionally affords an interactive and interesting expertise that’s designed particularly to assist Veterans and their households enhance their monetary well-being and obtain monetary safety.”
Wells Fargo Foundation, a key supporter of VBBP and now VetCents, leveraged its expertise and success in creating monetary wellness applications for area of interest and marginalized communities.
“Supporting VetCents was an ideal match with Wells Fargo’s objective to strengthen the monetary well being of our nation’s Veterans,” mentioned Bonnie Wallace, head of Financial Health Philanthropy, Wells Fargo Foundation. “VBBP and VetCents can straight handle the big range of economic stressors that the Veteran neighborhood faces and join them to the sources and help wanted to enhance their monetary conditions.”
In addition to encouraging banks of all sizes to hitch the VBBP program, the American Bankers Association Foundation serves because the 501(c)(3) nonprofit fiscal sponsor for managing donations that fund the VBBP.
“We’re proud to help the VBBP which is making an actual distinction within the lives of Veterans,” mentioned Lindsay Torrico, govt director of the ABA Foundation. “We are additionally excited concerning the alternative to get extra of America’s banks concerned on this vital work. Adding the VetCents initiative will assist in that effort.”
For extra details about VetCents and VBBP go to www.veteransbenefitsbanking.org.
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About the ABA Foundation
Through its management, partnerships, and nationwide applications, ABA’s Community Engagement Foundation (dba ABA Foundation), a 501(c)3, helps bankers present monetary schooling to people at all ages, elevate points round inexpensive housing and neighborhood improvement, and obtain company social accountability aims to enhance the well-being of their prospects and their communities.
About the Association of Military Banks of America
The Association of Military Banks of America (AMBA) was based in 1959. AMBA is a not-for-profit affiliation of banks working on army installations, banks not situated on army installations however serving army prospects, and army banking services designated by the U.S. Treasury. The affiliation’s membership contains each neighborhood banks and enormous multinational monetary establishments, all of that are insured by the Federal Deposit Insurance Corporation.
About the Department of Veterans Affairs
The VA’s main mission is to satisfy President Lincoln’s promise to care for many who have served in our nation’s army and for his or her households, caregivers, and survivors. In addition to the first mission, VA carries out 4 particular missions to make good on its dedication to Veterans and different beneficiaries: Veterans Health Care, Veterans Benefits, National Cemeteries, and nationwide preparedness for responding to conflict, terrorism, nationwide emergencies, and pure disasters.
LifeCents (www.lifecents.com) is a monetary wellness and know-how firm that empowers individuals to amass the information, construct the habits, and acquire the boldness they should make smarter on a regular basis selections. The firm’s award-winning digital wellness platform helps individuals grow to be financially conscious, savvy, and engaged which is of nice worth to companies and communities.
Andrea Sok, Sok Influencer PR, 1 302.579.0211, [email protected]