Division of Banks Announces Grants for Financial Literacy Program for Military Community

State Treasurer Goldberg commits $50,000 to program...

BOSTON – Today, the State Treasurer's Office and the Massachusetts Division of Banks announced applications are now being accepted for Operation Money Wise: Financial Education Opportunity Grant. This program supports Massachusetts non-profit organizations, public agencies, and higher education institutions that promote financial literacy and empowerment to members of the Military, Veteran, Family and Survivor Community (MVFSC) across the state.

Operation Money Wise is funded entirely through a Division of Banks settlement over alleged unlawful lending practices. For the second year, the Division of Banks has committed $50,000 to the Operation Money Wise program for 2019. In its first year, the program awarded $50,000 to 10 organizations across the Commonwealth.

“This program supports our military personnel and their families by helping them develop and strengthen financial decision-making skills that can be applied to their day-to day lives. This is the second installment of these grants and we hope that even more eligible organizations across the state will consider applying,” said John Chapman, Undersecretary for the Office of Consumer Affairs and Business Regulation, whose office includes the Division of Banks.

“The military community faces many unique challenges when it comes to financial stability and these financial literacy grants will empower our military community and their families to make informed financial decisions” said Treasurer Deborah Goldberg. “I am honored to support organizations that work to bring economic stability to the men, women and families who help keep our country safe.”

“The Division of Banks is proud to again provide funding for this important program supporting military communities in Massachusetts,” said Merrily Gerrish, Acting Commissioner of Banks. “Our veterans and military families deserve the proper tools to continue to make smart financial decisions throughout their lives.”

These awards aim to increase the scope of financial education for military personnel and their families and provide them with the tools they need to achieve financial stability. This grant opportunity allows organizations to use their knowledge and expertise to design 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 monetary decision-making.

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 March 29, 2019. Award recipients will be notified in April.

The application for the Operation Money Wise program is available online at www.operationmoneywise.com.

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