View From the Board: Increasing Outreach to Local Veterans Through Financial Literacy

Provided by Maggie Sayers, DCUC Board 1st Vice Chair & Keys FCU President/CEO

Credit unions play a crucial role in fostering financial wellbeing in their communities, and one demographic that often requires targeted support is veterans. Many veterans face unique financial challenges as they transition from military to civilian life. By enhancing outreach efforts and focusing on financial literacy, credit unions can better serve their veteran members and create lasting relationships within the community.

​As veterans transition from military to civilian life, they may encounter various financial hurdles including the transitioning of benefits, employment challenges as well as credit and debt management. Identifying and recognizing these challenges is often the first step in developing effective outreach.

Using tailored financial literacy workshops, specifically designed for veterans in their communities, credit unions can help in addressing the unique financial situations of veterans. Partnering with local veteran organizations within the community to help promote these events and collaborate on useful topics will help ensure they reach the intended audience with consistent messaging. Financial literacy workshop topics may include:

• Navigating VA benefits (including healthcare, education and housing)
• Understanding VA loans and housing options
• Budgeting for a civilian lifestyle
• Managing debt (including student loans, credit card debt and other financial obligations accrued during service)
• Understanding credit scores
• Applying for funding for veteran owned businesses
• Retirement planning
• Benefits management

​By focusing on financial literacy and enhancing outreach efforts, credit unions can positively impact the financial knowledge and well-being of local veterans. Not only does this strengthen community ties it also positions the credit union as a trusted resource for veterans navigating the complexities of financial life after military service. Implementing these financial literacy workshops can lead to more educated, more engaged membership and a commitment to serving those who have served us all.