Military Saves Campaign Resources strategies and successful programs

Military Saves Campaign Resources, strategies, and successful programs James Lander

About Military Saves is a research-based campaign using the principles of behavioral economics and social marketing to change behavior § Military Saves is a part of America Saves, the larger nation-wide campaign for all Americans and seeks to motivate, encourage, and support military families to save money every month, and to encourage leaders and organizations to be aggressive in promoting automatic savings § A cornerstone of the Department of Defense’s Financial Readiness Campaign, Military Saves has been a partner with Do. D since 2003 § § All four Do. D service branches (Army, Air Force, Marine Corps and Navy), the Coast Guard, National Guard and Reserves participate in the campaign § Military Saves encourages all servicemembers, their families, and civilian employees to take the Military Saves Pledge § Junior military personnel (E 1 -E 4 and O 1 -O 2) and their family members, are the target audience for Military Saves provides support and information year-round within a saving community to help servicemembers and their families build their personal savings and provide for their immediate and long-term financial needs

Military Saves Week Each year a Memo from the Office of the Secretary of Defense is issued supporting Military Saves Week The 2016 Military Saves Campaign is endorsed by senior enlisted military leadership

Military Saves Week • • • Military installations worldwide plan events to encourage Service members and their families to take the Military Saves pledge at www. militarysaves. org Commitment to exercise good financial habits and encourage other Americans to do the same. Provides support and information within a saving community to help servicemembers and their families build their personal savings and provide for their immediate and long-term financial needs Campaign Coordinators at every Military Installation and/or Unit Military members, Spouses, Uniformed Leaders, Do. D Civilians & Families Military Saves Week Theme: Set a Goal. Make a Plan. Save Automatically The next Military Saves Week February 27 – March 4, 2017

Military Saves Week 2016 Endorsements: § "It is critical that command teams at all levels communicate the significance of financial readiness for Soldiers and their Families. A Soldier's financial well-being has a direct impact to unit readiness. Command teams must prioritize the financial well-being of our Army Reserve Soldiers by educating their ranks about the Military Saves Campaign and how it applies to the individuals within their command. The Military Saves Campaign reinforces personal financial responsibility. It is the duty of every Army Reserve leader to practice financial responsibility and impart its importance to others. " ~Lt. Gen. Jeffrey W. Talley, Chief of Army Reserve and Commanding General of U. S. Army Reserve § "The Army's Financial Readiness Program is a proud partner of Military Saves. To celebrate Military Saves Week 2016, Army installations around the world have released commander proclamations in support of the week and are planning financial readiness fairs, seminars and other special events. Military Saves Week is truly a world-wide financial readiness collaboration, and we are proud to be a part of it, encouraging Soldiers and their Families to save. " ~P. Gale Johnson, M. Ed, Financial Readiness and AER Program Manager, HQ Installation Management Command, G 9, Family and MWR Programs

The Military Saves Pledge I will help myself by saving money, reducing debt, and building wealth over time. I will help my family and my country by encouraging other Americans to Build Wealth, Not Debt. § Military Saves encourages: § Saving a portion of each paycheck § Developing a financial plan § Establishing good credit § Enrolling in programs such as: § Thrift Saving Plan, Savings Deposit Program (when eligible), Servicemembers Group Life Insurance § Since 2007, more than 254, 905 servicemembers and their families have taken the pledge, to be exact (241, 903 pledges + 13, 002 re-pledges) § Encourage servicemembers and their families to take the pledge! Savers who take the pledge can opt to receive the following benefits: § Monthly Military Saves e-newsletter with savings advice from national experts § The quarterly American Saver e-newsletter § Their free credit score courtesy of FINRA Investor Education Foundation § New text messaging service

Military Saves Savers Pledge Growth More Than A Quarter Million Pledges! Military Saves Pledges 2007 -2016 Since 2007, more than 250, 000 servicemembers and their families have taken the Military Saves Pledge to reduce debt and build long-term wealth. 31, 286 pledges! *First quarter (January-March 2016)

Military Saves 2017 Goals § 50, 000 Military Savers take the pledge § Army - 20, 000 Pledges § Marines - 5, 000 Pledges § Navy - 10, 000 Pledges § Air Force - 15, 000 Pledges § National Guard, Reserves, and Coast Guard - 1, 000 Pledges

Military Bank Participation Military Saves Week 2016 § 14 Military Banks • 89 branches § Participating Institutions included • Armed Forces Bank • Fort Hood National Bank • Fort Sill National Bank • ONCONUS - Community Bank (Bank of America)

Military Saves Week Reporting § Military Saves Week Preliminary Reporting Results • 25 total responses • 50 percent reported higher than normal activity • 79 percent provided financial education seminars

New Resources For Military Savers Goal-based texting tips & reminders encourages continued saving. Text Examples: Military Saves: With each savings deposit, you are one step closer to getting out of debt. Have you made your deposit this month? Reply YES or NO. Military Saves: Need to pay off debt from last holiday? Pay off debt with double-digit interest rates. http: //bit. ly/14 j 3 Ck. X Military Saves: Once a month, use records to review what you've purchased. Reallocate some of this spending to emergency savings.

Communications Strategy Military. Saves. org

Incorporate financial action into existing programs • Resources we provide for Organizations • Resources we provide for Savers • You can replicate our success and integrate Saves into existing financial education seminars and programs • You can implement these strategies with a small staff – Military Saves staff is just two and a half employees

Key Messages § The financial readiness of servicemembers and their families is a priority for the AMBA Institutions and Military Saves § Military Saves provides support and information year-round within a saving community to help servicemembers and their families build their personal savings and provide for their immediate and long-term financial needs § Financial stability takes consistent action over time, where small steps to pay off debt and saving can help members and families reach their financial goals § Encourage mass participation to reach 50, 000 Pledges § Submit pictures, good news stories, activities and events • On installations around the country and world, more than 800 organizations participated in Military Saves Week 2016. Let’s continue this momentum into 2017!

Questions & Contacts How can we help you? James Lander Military Saves Director (202) 939 -1013 jlander@consumerfed. org Letty Stevens Military Saves Project Manager (202) 725 -8229 lstevens@consumerfed. org Alecia Blair Military Saves Communications Manager (910) 495 -4788 ablair@consumerfed. org www. militarysaves. org

Thank You! BACK UP

How to Inform: • Offer marketing materials and resources that encourage positive savings behavior • New and existing products, accounts, and services that incentivize savings during the week on your website, newsletter, and/or blog • Organize promotional events, financial seminars, workshops • Communicate your participation in Military Saves to individuals and partners through reminder emails

How to Promote: • Tweet and post social media messages included in Partner Packets to Facebook and Twitter • Outreach through press releases/events, social media venues, blogs and local media • Organize promotional events, financial seminars, workshops • Display the message of savings with Military Saves materials and resources

How to Act • Embed the Pledge Form on your institution website, integrating the form with your products • Add a call-to-action button to your Facebook page, linking it to the Military Saves Pledge • Market appropriate savings accounts, IRAs, CDs, and other wealth building accounts • Collaborate with leadership through PFMs to increase participation

Communications Strategy Military. Saves. org

Military Saves Week § Military Saves Week is a call-to-action to promote saving money, reducing debt, and building wealth to the military population § Military Saves Week is a dedicated worldwide opportunity for military installations, financial institutions, nonprofit organizations, and government agencies to motivate servicemembers and their families to reduce debt and build wealth § Military installations plan events to encourage servicemembers and their families to take the Military Saves Pledge at www. militarysaves. org § Military members, Spouses, Youth, Uniformed Leaders, Do. D Civilians & Families § Military Saves Week Theme: Set a Goal. Make a Plan. Save Automatically. The next Military Saves Week February 27 – March 4, 2017