Service members have many consumer protections and financial support systems available to them while in the military, but once they separate from service, many no longer have access to critical resources and protections tailored to service members.
Most military personnel have both a mortgage and at least one credit card, and are more likely to carry debt than civilians. Reintegrating into civilian life may bring fresh financial challenges, such as finding a job or facing a prolonged period of unemployment. In fact, six out of ten veterans recently reported that translating their military service to the civilian job market was a significant challenge.
A major new website has been built by a diverse coalition with a shared mission of improving the financial security and wellbeing of our nation’s growing population of veterans.
The site www.VeteransFinancialCoalition.com has big names behind it such as Visa, the Association for Financial Counseling and Planning Education, Consumer Federation of America, Consumer Action, with more to join.
The website will serve as a hub of free resources, ranging from educational games and guides, consumer protection brochures, training program information, and research.