The Association of Military Banks of America today announced the launch of a new financial education tool as part of the Veterans Benefits Banking Program. AMBA announced the launch of the new tool, VetCents, at a Veteran’s Financial Health Roundtable event in Washington, D.C. The new tool, powered by LifeCents, is a technology platform that provides veterans with financial education resources tailored to their needs. The American Bankers Association supports bank participation in the VBBP, and the ABA Foundation serves as the 501(c)3 nonprofit fiscal sponsor for managing donations that fund the VBBP.
“We’re proud to support the VBBP, which is making a real difference in the lives of veterans,” said Lindsay Torrico, executive director of the ABA Foundation. “We are also excited about the opportunity to get more of America’s banks involved in this important work. Adding the VetCents initiative will help in that effort.”
The VBBP is a private-public partnership between the Department of Veterans Affairs and AMBA that provides veterans and their beneficiaries with a safe and reliable way to receive and manage their VA monetary benefits. Eighty-six financial institutions currently participate in the program, according to AMBA President and CEO Steven Lepper.