San Diego Financial Literacy Center and Miramar Federal Credit Union Create Financial Literacy Program for San Diego Military Youth, Young Adults and Veterans

San Diego Financial Literacy Center and Miramar Federal Credit Union Create Financial Literacy Program for San Diego Military Youth, Young Adults and Veterans
February, 2015 Client News
SAN DIEGO – Feb. 19, 2015 – The San Diego Financial Literacy Center (SDFLC) announces a strategic partnership with Miramar Federal Credit Union (MFCU) to collaboratively educate and provide financial tools to underserved military youth and young adults, as well as veterans. With average credit card debt in the military approaching $5,000 (www.military.com), this unique financial education program aims to get military youth thinking, acting and feeling different about money and understanding the value of it. By doing this, the collaboration hopes to break the cycle of financial mismanagement that plagues military personnel as adults.

“Miramar Federal Credit Union offers a youth financial education program to our members, and this program is an extension of our current efforts,” said Tammy Dahl, marketing director, Miramar Federal Credit Union. “Collaborating with SDFLC is a natural alignment. We will be able to reach more military youth and veterans to help them make smarter decisions with their financial future.”

The collaboration will launch programs and initiatives including the Kangaroo Club and Teen Club in conjunction with the SDFLC’s Wave of the Future and Boost for our Heroes programs. To reach the military youth in San Diego County, SDFLC and MFCU will work directly with teachers and counselors at area schools, as well as other community partners to bring their programs into the classrooms. Additionally, the collaboration will work with student veteran organizations on campuses across the county to focus on veterans between the ages of 21 and 30 to help increase their financial IQ as they transition into civilian life.

According to the Financial Capability Study conducted by the FINRA Investor Education Foundation in 2012, over 90 percent of military members think financial education should be taught in schools. More than 40 percent of military members say they have at least some difficulty in keeping up with monthly expenses and that correlates with paygrade as entry level enlisted personnel (E1-E4) are most likely to experience financial hardship.

“Military youth learn their financial acumen from their parents and mentors. Our goal is to break the cycle of money mismanagement with military youth and young adults,” said says Brad Pagano, co-founder and managing director, San Diego Financial Literacy Center. “We are honored MFCU is collaborating with us to make positive waves in the military community and empower and educate this core group of military members.”

For more information, visit www.sdflc.org or call (858) 810-7007.

About San Diego Financial Literacy Center

Founded in 2014, the San Diego Financial Literacy Center (SDFLC) is a 501(c)(3) nonprofit, which provides education and empowerment tools to San Diegans to enhance their financial IQ and to help them make smarter decisions with their money. All services are provided at no cost.

The SDFLC provides comprehensive financial services focusing on the overall financial health of San Diego including members of the military (active, retired and veteran), youth (high school and college), low-moderate income families and collaborative community partners. The organization provides services across key areas including financial literacy, debt management, budgeting and credit counseling. In their first year of operation, the organization hosted over 220 forward facing events, as well as saw and helped over 20,000 individuals. For more information, to volunteer or donate, visit www.sdflc.org or call (858) 810-7007. Connect with us on Facebook or Twitter.