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Boston — The Office of the State Treasurer and the Division of Banks, a regulatory agency under the Office of Consumer Affairs and Business Regulation, announced today that applications are being accepted for Operation Money Wise, a funding opportunity for eligible entities to host financial education workshops that help empower the Military, Veteran, Family and Survivor Community (MVFSC).
Operation Money Wise is funded entirely through a Division of Banks settlement over alleged unlawful lending practices. The Division of Banks has committed $50,000 to the Operation Money Wise program for 2018.
“These financial literacy grants will further empower our military community and their families to make more informed financial decisions” said Treasurer Deb Goldberg. “I am honored to support the organizations that work to bring economic stability to the men, women, and families who put their lives on the line to keep our country safe.”
These awards aim to increase financial education for military personnel and their families, providing them with the tools needed to achieve economic stability. Many of these workshops will include strategy sessions on managing money, planning for college, preparing for retirement and consumer decision-making.
“Our veterans and returning service members deserve the proper knowledge and tools to help them manage their personal finances,” said Office of Consumer Affairs Undersecretary John Chapman. “I am grateful for the opportunity to help empower our military personnel and veterans and give back to a population that has given so much to all of us.”
“Many individuals enter the military at a young age and have little financial experience. As a Navy veteran, I have seen first-hand the unique challenges military personnel and their families face. It is our privilege to be able to fund awards serving the financial education of our military service community,” said Commissioner of Banks Terence A. McGinnis.
Non-profit organizations, public agencies, and higher education institutions located in Massachusetts are eligible to be considered for awards of up to $5,000. Completed applications must be submitted to the Office of the State Treasurer by January 5, 2018. Award recipients will be notified in February.
The application for the Operation Money Wise program is available at www.operationmoneywise.com.