The State Treasurer’s Office of Economic Empowerment, in partnership with the Division of Banks and the Office of Consumer Affairs and Business Regulation, are now accepting applications for the 2022 round of Operation Money Wise grants. This funding supports Veteran-serving non-profit organizations, public agencies, and higher education institutions to improve pre-existing financial education programs or to create new ones aimed at increasing personal finance knowledge within the Military, Veteran, Family, and Survivor Community (MVFSC).
Funding is possible through a Division of Banks settlement over alleged unlawful lending practices and a total of $75,000 has been committed to this year’s grant program. Eligible organizations providing financial education programs to the MVFSC will be considered for awards of up to $5,000. Since the inception of this program, over 6,600 members of the military community have been served with this funding.
The grant requirements and application are available online at: https://www.mass.gov/how-to/apply-for-operation-money-wise. Applications will be accepted until Thursday, April 7, 2022 at 5 pm EST.
“Operation Money Wise empowers our veterans and their families to make informed financial decisions,” said State Treasurer Deborah B. Goldberg. “With this funding, more servicemembers will have access to resources and tools that will help them improve their economic well-being.”
“This grant opportunity is a significant way to help support the Massachusetts Veteran community. We’re excited to provide the funding for this initiative again, especially at a time when this type of programming is so vital for Veterans and the groups that serve them,” said Edward A. Palleschi, Undersecretary for the Office of Consumer Affairs and Business Regulation, whose office oversees the Division of Banks.
“We’re proud to offer this grant again to help Veterans receive the information they need to improve their financial skillset. With funding available this year, we hope to reach more Veterans by facilitating innovative programs from Veteran-serving organizations throughout the state,” said Mary Gallagher, Commissioner of Banks.
Over $160,000 has been awarded since the inception of the financial literacy grant in 2016. Operation Money Wise is designed to empower the military community and their families in the Commonwealth through financial education. This grant opportunity 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 decisions around money.
About the Office of Economic Empowerment
Treasurer Goldberg created the Office of Economic Empowerment (OEE) with the goal of increasing financial stability for everyone in Massachusetts. The office works to promote programs that serve women, families, high school students, Veterans, and seniors. Its initiatives focus on closing the race and gender wage gap, racial equity, increasing access to financial education, improving college affordability, and investing in STEM careers and education.
About the Office of Consumer Affairs and Business Regulation
The Office of Consumer Affairs and Business Regulation led by Undersecretary Edward A. Palleschi works to protect and empower consumers through advocacy and education, while ensuring a fair playing field for the Massachusetts businesses its agencies regulate.
About the Division of Banks
The Division of Banks 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.