Funding to Provide One-On-One Financial Coaching to Help Veterans and Service Members Reduce Debt
Stafford, Texas, Oct. 28, 2021 (GLOBE NEWSWIRE) -- Money Management International (MMI), a nonprofit financial counseling agency, was awarded a grant from United Services Automobile Association (USAA) to help veterans, active-duty military and their families facing financial crisis.
“We are so thankful for the continued support from USAA,” said Jim Triggs, President and CEO of MMI. “MMI is proud of its history of helping the people who serve our country address their significant financial concerns and this grant will go a long way in helping continue that mission.”
Thanks to the generous funding, MMI plans to reach out to hundreds of individuals and families who need financial counseling throughout the next year. MMI anticipates 20% of these clients will enroll in a debt repayment plan to actively pay down outstanding debts.
“It changed our lives,” said Sandy Wilsnach, a U.S. Navy veteran who repaid nearly $40,000 in three years. “The entire experience, from the plan itself to the empathetic representatives who were available anytime, MMI was the absolute best thing my husband and I could have done for ourselves.”
According to a survey by the Military Family Advisory Network, a staggering number of veterans — 92.5% — reported they have debt, while 44% reported financial stress is detrimental to their emotional and mental health.
MMI understands these challenges firsthand and is dedicated to helping service members and their families reconnect to the life of financial stability they deserve. Specifically designed for active-duty military, veterans and their families, Military Reconnect from MMI provides free in-person outreach, online learning communities and counseling resources to help service members. Since 2012, MMI has conducted more than 100 military-focused events each year.
In 2020, MMI counseled nearly 20,000 military-affiliated individuals and their families. Due in large part to the COVID-19 pandemic, the need for financial counseling for service members continues to grow, and funding from USAA will allow MMI to have an even greater impact on the financial readiness of military members in the year of recovery ahead.
“Military families have unique needs that arise from military life,” said Justin Schmitt, AVP of Corporate Responsibility at USAA. “We are honored to help support MMI and their financial coaching programs that allow for many military families to achieve solid financial footing.”
MoneyManagement.org Experts available for interviews:
Tara Alderete, 505.514.6840 cell, Tara.Alderete@MoneyManagement.org
Money Management International (MMI), formerly Consumer Credit Counseling Service, is changing how America overcomes financial challenges. MMI helps create, restore, and maintain a life of financial wellness through empowered choices. For over 60 years, our clients have achieved financial confidence through nonprofit programs that educate, motivate, and liberate. MMI inspires action by delivering expert professional guidance and timely solutions aligned with our client's goals. Experiencing a financial challenge? Find your solution 24/7 at 866.864.8995 and MoneyManagement.org.
CONTACT: Thomas Nitzsche Money Management International 404.490.2227 Thomas.Nitzsche@MoneyManagement.org