Fort Lauderdale, FL June 16, 2014 - The Wells Fargo grant will enable certified counselors and financial coaches to reach active duty military personnel, veterans and their families to encourage the wise use of credit, saving money and building personal savings. Working in unison with the U.S. Army Garrison in Miami, Army OneSource and the VeteraNetwork the program is expected to reach 200 individuals and families.
“Wells Fargo is committed to helping veterans, military service members and their families succeed financially,” said Joe Atkinson, South Florida region president at Wells Fargo. “This includes providing financial education. Wells Fargo is excited to work with Consolidated Credit and their new Military Financial Education Program to promote financial literacy.”
¾ According to the Department of Defense, financial problems are the leading cause of security clearance revocation or denial.
¾ 19 percent of military members report at least one financial problem in the past month.
¾ 25 percent of military families carry a credit card balance of more than $10,000 and 50 percent carry debt month-to-month.
“We are committed to helping build strong communities. It’s a commitment that’s core to our organization’s vision and values,” said Gary Herman, President of Consolidated Credit. “Studies show that financial struggles impact military readiness. Our Certified Military Home Specialists and Certified Counselors are prepared to provide the tools necessary to overcome most financial challenges.”
The Military Financial Education Program is comprised of counseling with Certified Military Home Specialists, a toll free dedicated phone number for Military personnel, as well as seminars and webinars that include the following topics:
¾ Military Home Buying
¾ Planning for a Permanent Change of Station (PCS)
¾ Budgeting for Deployment Attendees learn how to make the most of the money they have by saving more, creating a spending plan and being a smart shopper.
¾ Career transition to civilian life
¾ Coping with financial stress
¾ Planning for retirement
¾ Military Credit
Military and veteran groups wishing to have a counselor teach a class or individuals interested in scheduling a session with a Consolidated Credit Solution Certified Financial Professional can contact 888-647-2716
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.5 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 locations, 12,500 ATMs, and the internet (wellsfargo.com), and has offices in 36 countries to support customers who conduct business in the global economy. With more than 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2014 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially. Wells Fargo perspectives and stories are also available at blogs.wellsfargo.com and at wellsfargo.com/stories.
About Consolidated Credit Solutions
Consolidated Credit Solutions is one of the nation's largest credit counseling organizations in the country and has helped over 5 million people in over 20 years with financial issues. Their mission is to assist families throughout the United States in ending financial crisis and solving money management problems through education and professional counseling. They offer full-service housing counseling to help consumers with housing issues to make sure they have the information needed every step of the way.