department of defense financial readiness - military saves quaterly meeting january 2016.pdf ·...
TRANSCRIPT
Department of Defense
Financial Readiness
Brenda McDaniel, Program Manager, Personal Finance,
Office of Family Readiness Policy
Office of the Deputy Assistant Secretary of Defense
14 January 2016
2
CJCS and Senior Enlisted
Advisor Memo
3
Military Saves 2015
"Set a Goal, Make a Plan, Save Automatically!”
Background: Military Saves is co-sponsored by the Consumer Federation of
America and the Department of Defense. Active participation and support
from the Office of the Secretary of Defense, the Army, Marine Corps, Navy, Air
Force, National Guard, Reserves and the US Coast Guard.
• Goals:
Increase Participation
Foster Partnerships
Increase Financial Readiness and Stability
• Audiences
• Stakeholders
• Key Messages: CJCS and Senior Enlisted Advisor Memo
• Talking Points
• Strategy and Process
• Association of Military Banks of America
• Consumer Federation of America
• Defense Civilian Personnel Advisory Service
• Defense Credit Union Council
• Department of Housing & Urban Development
• Department of Veterans Affairs
• FDIC
• Federal Trade Commission
• FINRA Investor Education Foundation
• Military OneSource
• National Military Family Association
• National Association of Federal Credit Unions
• National Credit Union Administration
• Navy Federal Credit Union
• Office of the Comptroller of the Currency
• Pentagon Federal Credit Union
• Personal Financial Counselors
• Securities & Exchange Commission
• Social Security Administration
• Thrift Savings Plan
• USDA
Pentagon Financial Fair Participants
4
5
The Financial Readiness
Roundtable
American Financial Services Association Education Foundation (AFSA)
Association of Military Banks of America (AMBA)
Better Business Bureau (BBB)
Consumer Federation of America (CFA) (Military Saves)
Consumer Financial Protection Bureau (CFPB) Defense Credit Union Council (DCUC)
Federal Deposit Insurance Corporation (FDIC)
Financial Industry Regulatory Authority (FINRA)
Federal Trade Commission (FTC)
National Association Federal Credit Union (NAFCU)
National Credit Union Administration (NCUA)
National Foundation for Credit Counseling (NFCC)
National Institute of Food and Agriculture (NIFA)
National Military Family Association (NMFA)
Security Exchange Commission (SEC)
DoD State Liaison Office
OUSD (Comptroller)
Military Community Family Policy
Transition to Veterans Program Office
6
14 January 2016
Military Saves Advisory Meeting
James Lander
Military Saves Update
#MSW2016 Planning
Goals
How to Participate
Text Messaging Reminders
Key Messages
Contacts
Military Saves
Overview
• Military Saves Week 2016 is February 22nd – February 27th
• Military installations worldwide are planning events to encourage
Service members and their families to take the Military Saves
pledge at www.militarysaves.org
• Commitment to exercise good financial habits and encourage other
Americans to do the same. Provides support and information within
a saving community to help servicemembers and their families
build their personal savings and provide for their
immediate and long-term financial needs
• Campaign Coordinators at every Military Installation and/or Unit
• Military members, Spouses, Youth, Uniformed Leaders, DoD
Civilians & Families
• Military Saves Week Theme: Save Automatically!
Military Saves Week Endorsements:
"For members of our Armed Forces, readiness has always been the name of the game - defense readiness, combat readiness, mental/physical readiness. But, it's important to remember just how much personal and family readiness can impact everything, too.
Financial fitness and well-being are critical to maintaining the readiness of our total force. Use Military Saves Week and the resources available to identify your financial goals and adjust course, if necessary."
~ Master Chief Petty Officer of the Coast Guard Steven W. Cantrell
Military Saves Week 2016
The 2016 Memo from the Office of the Chairman of the Joint Chief of Staff is issued supporting Military Saves Week
The 2016 Military Saves Campaign is endorsed by senior enlisted military leadership.
• Military Saves Week 2016 (As of January 13th)
– 354 Organizations
Sign Up for #MSW2016
Military Saves Pledges 2007-2015 33,086 pledges!
*First quarter (January-March 2015)
50,000 Military Savers take the pledge
ARMY 20,000 Pledges
Navy 10,000 Pledges
Air Force 15,000 Pledges
Marines 5,000 Pledges
Coast Guard, National Guard, and Reserves 1,000 Pledges
Campaign Coordinators at every U.S. military installation CONUS and OCONUS
Unit Representatives; CFC Model
Military Saves Week 2016
January 19th – Army
January 28th – ARMY
January 28th – NAVY
1. Sign up to Participate
2. Promote savings to servicemembers & DoD civilians February 22 - 27
3. Participate in ways that make the most sense at your location
How to Participate
Newsletter/blog articles about the Week
Link to emails about the Week
Graphics page link
Social Media posts
Links to evergreen posts/tweets
One month of posts/tweets
Savers who take the Military Saves pledge can opt to receive
the following benefits:
The monthly Military Saves e-newsletter with savings advice from
national experts
Their free credit score courtesy of FINRA Investor Education
Foundation
HandsonBanking.org – Guide Post Financial Readiness
Military Saves encourages:
Saving a portion of each paycheck Enrolling in programs such as:
Developing a financial plan Thrift Saving Plan
Establishing good credit Savings Deposit Program (when eligible)
Servicemembers Group Life Insurance
Take the Pledge!
Beginning in February prior to #MSW2016, Military Savers who have taken the Military Saves Pledge in previous years will receive an email encouraging them to re-pledge and participate in the NEW Military Saves text messaging reminder initiative.
Text messaging enrollment period will run from February – April, and will include a drawing each month for a chance for one Military Saver to win $500.
Military Savers will need to opt in after they have taken the Military Saves pledge.
Contact Information
1. What is the name of your organization?
2.Which of these descriptions best fits your organization?
a. Financial Institution
b. Installation
c. Non-Profit Organization
3.Who can we contact for more information?
Name _______________
State _______________
Email Address _______________
Phone Number ______________
4.How many branches are included in this report? _______________
5. Through your events and promotion of Military Saves Week, did you encourage your audience to take the Military Savers Pledge? Yes /No
6. Which of the following did you offer during Military Saves Week (select all that apply)
Gifts or bonus incentives for opening accounts Yes/No
Gifts or bonus incentives for adding to accounts Yes/No
Special interest rates for opening accounts Yes/No
Prizes of drawings Yes/No
Other (please specify)
7. How would you describe account activity during Military Saves Week 2015? (please select all that apply)
Higher number of savings accounts (or similar) opened Yes/No
Greater deposits to existing savings accounts Yes/No
No noticeable change in savings activity Yes/No
Do not know Yes/No
8. How much account activity was there during Military Saves Week 2015? Number of savers opening new account
Dollars saved in new accounts
Number of savers adding to existing accounts
Additional dollars saved in existing accounts
Number of automatic savings deposits established
Promotional Methods
9. Tell us about your promotional methods. Did you use each of these techniques this year?
Social media (Facebook, Twitter, etc.) Yes/No
Information on website Yes/No
Financial education workshops Yes/No
Press releases or press events Yes/No
Community events Yes/No
1-on-1 financial counseling Yes/No
Obtained Commander’s proclamation Yes/No
Other (please specify)
10. Tell us about your audience reach. What is your best guess of how many people you reached with each of the following methods?
11. We like to feature stories that show the impact of your work during Military Saves Week. Please share in the space below your Military Saves Week story or success that illustrates the impact of your work:
America Saves is pleased to invite banks and credit unions to apply for the second annual Designation of Savings Excellence. This designation will be given to banks and credit unions that work hard to encourage individuals to save during America Saves Week.
To view the application questions, click here
APPLICATION PERIOD March 1 – April 1, 2016
The financial readiness of servicemembers and their families is a priority for Military Saves as a valuable component of the DoD Financial Readiness campaign.
Military Saves Week is a call-to-action that includes promotion, information, and action.
Military Saves provides support and information year-round within a saving community to help servicemembers and their families build their personal savings and provide for their immediate and long-term financial needs.
Financial stability takes consistent action over time, where small steps to pay off debt and saving can help members and families reach their financial goals.
Key Messages
James Lander
Military Saves Director
Laura Roler
Military Saves Associate
Alecia Blair
Military Saves Communications Associate
www.MilitarySaves.org