As part of its commitment to helping military families secure their financial future, the PenFed Foundation donated $100,000 to the Military Officers Association of America Military Family Initiative.
"We are looking forward to working with the PenFed Foundation leadership and the military community to advance our shared goal of increasing financial and retirement planning awareness in the military community," MOAA President/CEO, retired Air Force Lt. Gen. Dana Atkins said.
The MOAA announced plans to launch a cooperative military financial education effort later this year, focused on delivering content tailored to fit transition programs, which prepare service members for life outside of the military.
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The content will be developed in cooperation with transition program coordinators at Army, Marine Corps, Navy, Air Force and Coast Guard installations. Credentialed financial educators will act as facilitators and address such topics as strategic money management, the new military retirement plan and issues of legislative interest.
"The partnership with the MOAA and this type of tailored financial education contributes to the financial readiness of our service members. Whether they serve for 30 years or for three years, we want them to be prepared for the future," PenFed Foundation president/CEO James Schenck said.
Founded in 2001, the PenFed Foundation is a national nonprofit organization that provides service members, veterans, their families and support networks with the skills and resources they need to improve their lives through programs on financial education, credit-building, home ownership, and short-term assistance.
Affiliated with PenFed Credit Union, the foundation has the resources to effectively reach military communities across the nation, build strong partnerships, and engage a dedicated corps of volunteers in its mission. The credit union funds the foundation's personnel and most operational costs.
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