22 April, 2024
In collaboration with the Division of Banks (DOB) and the Office of Consumer Affairs and Business Regulation (OCABR), the State Treasurer’s Office of Economic Empowerment (OEE) announced a new round of funding for Operation Money Wise. This grant program offers funding to veteran-serving non-profit organizations, public agencies, and higher education institutions to host financial programming that serves the Military, Veteran, Family, and Survivor Community (MVFSC).
Veteran-serving organizations can apply for up to $5,000 in funding, which must be used before March 31, 2025. Applications close on May 31st, 2024 at 5 p.m. Follow this link to learn more and apply. (https://www.mass.gov/how-to/apply-for-operation-money-wise)
To date, Operation Money Wise has served over 6,648 members of the military community. A total of $262,977 has been awarded to 55 grantees in six grant rounds. 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.
“We are proud to help those who serve our country achieve financial stability for themselves and their families,” said State Treasurer Deborah B. Goldberg. “Operation Money Wise will continue to support organizations that uplift and financially empower our veteran community across Massachusetts.”
“Operation Money Wise helps address the daily financial challenges that veterans and their families continually face,” said Undersecretary of the Office of Consumer Affairs and Business Regulation Layla R. D’Emilia. “By empowering the organizations that best serve our military, this program is an example of a results-driven, community-focused collaboration in which we are proud to take part.”
Previous programs include one-day seminars or multiple sessions hosted by local colleges and financial institutions. Topics featured in past programs include career-training, information tailored to Gold Star Families, the National Guard Reintegration Yellow Ribbon Program, and the Volunteer Income Tax Assistance (VITA) Program.
Funding is possible through a Division of Banks settlement over alleged unlawful lending practices.
About the Division of Banks
The Division of Banks (DOB) 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 Commonwealth.
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.
About the Office of Economic Empowerment
Treasurer Goldberg created the Office of Economic Empowerment 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.
