Honoring and Protecting Military Families

Thank You for Your Commitment and Service to Our Nation.

Servicemembers and military families face unique financial challenges, whether on active duty, returning to civilian life or living as a veteran.

These are amplified by an increasingly complex financial marketplace along with the usual burdens of managing finances such as budgeting, maintaining a good credit score, saving regularly and managing debt.

In recent years, servicemembers have joined the ranks of those who are considered most vulnerable to predatory lenders and identity theft.

Fraudsters, predatory lenders and debt collectors specifically target servicemembers and their family members because they recognize that members of the military are required to keep their finances in good order and receive a steady paycheck. Plus, many military families are young and have limited experience making complex financial decisions.

Other important factors that impact military finances include deployments, change of duty stations, emergencies that lead to unplanned and unique financial difficulties and unforeseen expenses due to a lack of familiarity with the local environment where stationed. Also, many servicemembers are returning home and must reacclimate themselves to civilian life, including the management of their finances.

Achieving and Maintaining Financial Well-Being

Do your finances need a check-up? Start on the path to financial wellness by reviewing these resources to help servicemembers, veterans, and their families achieve financial well-being.

Credit Unions Serve Military Families Nationwide

Credit unions participate in a shared-branching system. This enables servicemembers who belong to one particular credit union to visit another credit union that participates in the same network to conduct transactions, such as deposits and withdrawals. Credit unions also work with Department of Defense Personal Finance Managers to offer free financial counseling sessions and other financial workshops to military families. Often, credit unions offer higher interest rates on savings accounts and lower fees compared to banks.

Many credit unions have a field of membership that specifically serves military communities. Take a look at NCUA’s CU Locator to locate a federally insured credit union.


 Related Resources: