Today, America Saves is excited to announce the American Armed Forces Mutual Aid Association (AAFMAA) as a sponsor for its newest initiative, Veteran Saves. Launched in April 2023, Veteran Saves will function as a sister program to the well-established Military Saves initiative, centering on building financial resilience, increased savings, and economic stability specifically in the Veteran population with their unique needs in mind.
AAFMAA is the longest-standing nonprofit financial solutions provider that empowers the military community with affordable financial solutions. AAFMAA’s sponsorship will help fund tools and resources that are grounded in behavioral science to address financial stress, debt, homelessness, and unbanked issues facing both transitioning service members and existing Veterans.
Sarah Bumgardner, AAFMAA Director of Member Benefits and Partners, and Krystel Spell, America Saves Manager of Military Programs, met to discuss Military Saves Week, the new (for 2023) Veterans Saves initiative, and what it means to achieve confidence in the future by building financial resilience, increased savings, and economic stability in the Veteran population.
“We’re thrilled to collaborate with Veteran Saves to further our mission of providing resources and solutions to help the American Armed Forces Community achieve financial security and independence,” said Bumgardner. “Our mission is to provide financial clarity, encouraging all individuals to join the conversation to better prepare for themselves and their families”.
Because the financial needs and circumstances of Veterans differ from active-duty military, they require a specialized approach to ensure that their financial futures are stable and secure. Veteran Saves is aimed at addressing the lack of practical and tailored personal finance advice, information, and resources specifically for veterans, especially those in critically vulnerable populations such as Black and Latino Americans, women, and those with a disability.
With AAFMAA's generous support, our new initiative, Veteran Saves, will be able to provide tangible and actionable resources that can make a real difference in the pursuit of financial stability for our military veterans," said Spell, Manager of Military Programs at America Saves. We are excited to work with AAFMAA as a founding supporter to help our Veterans achieve their financial goals and build a better future for themselves and their families."
Veteran Saves launches during the 2023 Military Saves Week, April 24-28.
About America Saves
America Saves is a campaign managed by the nonprofit Consumer Federation of America that uses the principles of behavioral economics and social marketing to motivate, encourage, and support low-to-moderate-income households to save money, reduce debt, and build wealth. America Saves encourages individuals and families to take the America Saves pledge and organizations to promote savings year-round and during America Saves Week. Since its inception, over 12,000 organizations have participated in America Saves Week to promote savings to their communities. Learn more at americasaves.org.
American Armed Forces Mutual Aid Association (AAFMAA) is the longest-standing nonprofit financial solutions provider that empowers the military community with affordable financial solutions — including always-affordable life insurance, expert investment management, and customized residential mortgages. Follow the organization on Twitter, Facebook, and LinkedIn.