Press Release  Recipients Announced for State Financial Education Grants for Veteran-Serving Institutions

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 the recipients of the 2023 Operation Money Wise grants. These grants provide the resources to non-profit organizations, public agencies, and higher education institutions that serve the military community in Massachusetts for financial education programming.

This year, the 14 organizations included will create new or expand existing financial programs. In total, these groups were awarded $64,432 made possible through a Division of Banks settlement over alleged unlawful lending practices.

The 2023 grant recipients are:

Total: $64,432

“Our Operation Money Wise grants support Massachusetts veterans and their families with the education and information they need to improve their uniquely challenging financial situations,” said State Treasurer Deborah B. Goldberg. "This year’s grantees will offer important, timely resources that help bring increasing economic stability to the servicemembers who dedicate their lives to keeping our country safe.”

“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. “Through these grants, we have an exciting opportunity to provide tools that contribute to veterans’ long-term success.”

“It is our hope that through Operation Money Wise, the military community has more access to the education that is vital in securing financial wellness,” said Mary Gallagher, Commissioner of Banks. “The recipients of this year’s Operation Money Wise grant will create or expand upon financial programming tailored specifically to the needs of Massachusetts veterans, and our teams are thrilled that this grant serves veterans in communities across the state.”

Since 2016, Operation Money Wise has provided over $270,000 in funding for financial education programs offered by veteran-serving non-profit organizations, public agencies, and higher education institutions. This grant opportunity 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 decisions around money.

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. 

About the Office of Consumer Affairs and Business Regulation

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.

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