State Agencies Announce New Round of Financial Education Grants for Veteran-Serving Organizations
Funding will support veterans in Massachusetts with access to financial education resources.
BOSTON – The State Treasurer’s Office of Economic Empowerment (OEE), the Division of Banks (DOB), and the Office of Consumer Affairs and Business Regulation (OCABR) announced a new round of Operation Money Wise grants today. These grants provide funding to veteran-serving non-profit organizations, public agencies, and higher education institutions to improve or create financial education programs designed for increasing personal finance knowledge within the Military, Veteran, Family, and Survivor Community (MVFSC).
Veteran-serving organizations can apply for up to $5,000 in funding. Applications close on May 25, 2023 at 5 p.m. Follow this link to learn more and apply.
“Operation Money Wise supports organizations that provide high quality financial education programs, addressing the special challenges that so many of our military families experience,” said State Treasurer Deborah B. Goldberg. “The women and men who have sacrificed so much for our country deserve everything we can do to help them achieve financial stability for themselves and their families."
“The Office of Consumer Affairs and Business Regulation is proud to support the long-term success and financial stability of our service members and their families through Operation Money Wise, and to give back to those individuals and families by fostering programs that provide tangible tools to help them plan and ensure financial independence and security. By investing in the financial futures of our military members and their families, we are investing in Massachusetts,” said Layla R. D’Emilia, Undersecretary for the Office of Consumer Affairs and Business Regulation.
“Our teams are excited to offer this funding again in an effort to serve our veterans and their families,” Mary Gallagher, Commissioner of Banks. “We hope veteran-serving organizations from across the state apply to improve their financial education offerings for the community that has given so much for this state and our country.”
Since 2016, Operation Money Wise has awarded 43 grants to 23 veteran-serving non-profit organizations, public agencies, and higher education institutions, totaling over $208,727 in funding. These grants have served 8,460 members of the military community. The funding allows organizations to use their knowledge and expertise to design or enhance a program that would best serve their community. Many of these workshops will include strategy sessions on basic budgeting, managing debt, preparing for retirement, and making decisions with money.
Funding is possible through a Division of Banks settlement over alleged unlawful lending practices.
About the Office of Economic Empowerment
Treasurer Goldberg created the Office of Economic Empowerment, led by a deputy treasurer, with the deliberate goal of implementing a range of economic empowerment initiatives that include closing the race and gender wage gap, addressing racial equity, increasing access to financial education, and creating pathways to economically stable futures for all residents across the state.
About the Division of Banks
The Division of Banks (DOB), which is a division of the Office of Consumer Affairs and Business Regulation within the Executive Office of Housing and Economic Development, is the chartering authority and primary regulator for financial service providers in Massachusetts. DOB's primary mission is to ensure a sound, competitive, and accessible financial services environment throughout the state. The Office of Consumer Affairs and Business Regulation protects and empowers consumers through advocacy and education and ensures a fair playing field for the Massachusetts businesses its agencies regulate.