Nancy Register Military Saves Advisory Meeting 15 October 2015

Military Saves Quarterly Meeting AGENDA Welcome and Introductions Military Saves Saver Survey Analysis (Steve Holt, Holt Solutions) DoD Office of Personal Finance (Brenda McDaniel, OSD; Military Community & Family Policy) Military Saves Update & MSW2016 Organizations and Installation Planning (James Lander, Military Saves Director) America Saves Update & Designation of Excellence 2016 (Katie Bryan, Director of Communications, America Saves) Military Saves Week 2016 Communication Schedule (James Lander, Military Saves Director) Meeting Adjourned; Lunch

3 Military Saves Saver Survey Steve Holt, Holt Solutions RESULTS BY QUESTION Question 1: Connection to Military

4 Military Saves Saver Survey Steve Holt, Holt Solutions Question 2: Military Pay Grade

5 Military Saves Saver Survey Steve Holt, Holt Solutions Question 3: Sources of Helpful Information About Saving

6 Military Saves Saver Survey Steve Holt, Holt Solutions Question 4: Degree of Helpfulness of Military Saves Question 5: Predicted Helpfulness of Receiving Routine Savings Reminders

7 Military Saves Saver Survey Steve Holt, Holt Solutions Question 6: Paying Down Debt Considered a Form of Saving Question 7: Have Automatic Saving Set Up

8 Military Saves Saver Survey Steve Holt, Holt Solutions Question 8: Current Most Important Savings Goal

9 Military Saves Saver Survey Steve Holt, Holt Solutions Question 9: Best Description of Savings Behavior Question 10: Amount Saved So Far in 2015

10 Military Saves Saver Survey Steve Holt, Holt Solutions Question 11: Amount Saved So Far in 2015 Compared to Last Few Years Question 12: Gender

11 Military Saves Saver Survey Steve Holt, Holt Solutions Question 13: Marital Status Question 14: Age

12 Military Saves Saver Survey Steve Holt, Holt Solutions Question 15: Income

13 Military Saves Saver Survey Steve Holt, Holt Solutions CROSS-QUESTION ANALYSIS AGE, SAVINGS, & INCOME, BY ACTIVE DUTY PAY GRADE (for most common pay grades among respondents)

14 Military Saves Saver Survey Steve Holt, Holt Solutions OTHER SAVINGS BEHAVIOR, BY ACTIVE DUTY PAY GRADE

15 Military Saves Saver Survey Steve Holt, Holt Solutions OTHER SAVINGS BEHAVIOR, BY SERVICE BRANCH (branches with 35+ respondents)

16 Military Saves Saver Survey Steve Holt, Holt Solutions SOURCES OF HELPFUL SAVINGS INFORMATION, BY ACTIVE DUTY PAY GRADE (selected sources)

17 Military Saves Saver Survey Steve Holt, Holt Solutions SOURCES OF HELPFUL SAVINGS INFORMATION, BY SERVICE BRANCH (all respondents) (active duty only)

18 Military Saves Saver Survey Steve Holt, Holt Solutions DEGREE OF HELPFULNESS OF MILITARY SAVES, BY ACTIVE DUTY PAY GRADE

19 Military Saves Saver Survey Steve Holt, Holt Solutions DEGREE OF HELPFULNESS OF MILITARY SAVES, BY SERVICE BRANCH

20 Military Saves Saver Survey Steve Holt, Holt Solutions

21 Military Saves Saver Survey Steve Holt, Holt Solutions

22 Military Saves Saver Survey Steve Holt, Holt Solutions

23 Military Saves Saver Survey Steve Holt, Holt Solutions

Department of Defense Financial Readiness Brenda McDaniel, Program Manager, Personal Finance, Office of Family Readiness Policy Office of the Deputy Assistant Secretary of Defense 15 October 2015

25 CJCS and Senior Enlisted Advisor Memo

26 Military Saves 2015 "Set a Goal, Make a Plan, Save Automatically!” Background: Military Saves is co-sponsored by the Consumer Federation of America and the Department of Defense. Active participation and support from the Office of the Secretary of Defense, the Army, Marine Corps, Navy, Air Force, National Guard, Reserves and the US Coast Guard. Goals:  Increase Participation  Foster Partnerships  Increase Financial Readiness and Stability Audiences Stakeholders Key Messages: CJCS and Senior Enlisted Advisor Memo Talking Points Strategy and Process

Association of Military Banks of America Consumer Federation of America Defense Civilian Personnel Advisory Service Defense Credit Union Council Department of Housing & Urban Development Department of Veterans Affairs FDIC Federal Trade Commission FINRA Investor Education Foundation Military OneSource National Military Family Association National Association of Federal Credit Unions National Credit Union Administration Navy Federal Credit Union Office of the Comptroller of the Currency Pentagon Federal Credit Union Personal Financial Counselors Securities & Exchange Commission Social Security Administration Thrift Savings Plan USDA Pentagon Financial Fair Participants 27

28 The Financial Readiness Roundtable American Financial Services Association Education Foundation (AFSA) Association of Military Banks of America (AMBA) Better Business Bureau (BBB) Consumer Federation of America (CFA) (Military Saves) Consumer Financial Protection Bureau (CFPB) Defense Credit Union Council (DCUC) Federal Deposit Insurance Corporation (FDIC) Financial Industry Regulatory Authority (FINRA) Federal Trade Commission (FTC) National Association Federal Credit Union (NAFCU) National Credit Union Administration (NCUA) National Foundation for Credit Counseling (NFCC) National Institute of Food and Agriculture (NIFA) National Military Family Association (NMFA) Security Exchange Commission (SEC) DoD State Liaison Office OUSD (Comptroller) Military Community Family Policy Transition to Veterans Program Office

Personal Financial Readiness Pillars 29 Financial Readiness Pillars will be released next week

Military Saves Week February – 27 February Military installations worldwide plan events to encourage Service members and their families to take the Military Saves pledge at 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, Youth, Uniformed Leaders, DoD Civilians & Families Military Saves Week Theme: Set a Goal. Make a Plan. Save Automatically

Military Saves Campaign Update & Military Saves Week 2016 A Record-Breaking Year To date, 35, 400 individuals took the Military Saves Pledge. Since 2007, more than 200,000 servicemembers and their families have taken the Military Saves Pledge.

Military Saves Quarterly Meeting Financial Institutions Why your institution should participate Your branch or credit union will benefit from participating in Military Saves Week 2016 by supporting servicemembers and their families to become more financially fit. Saving through direct deposit and embedded pledge form on your website will increase customer accounts. To boost overall savings rates for servicemembers and their families. Participating in Military Saves Week supports the marketing of your incentivized products, accounts, and services. Register TODAY as a participating organization at MilitarySaves.org

Military Saves Quarterly Meeting #MSW2016 Set a Goal. Make a Plan. Save Automatically.

Military Saves Quarterly Meeting Installations, Commands, and Readiness Centers How to participate in Military Saves Week? Obtain a signed Commander’s Proclamation and encourage uniformed leadership to support efforts through communications channels. Set a goal for the number of pledges to can achieve during the week. Promote and provide opportunity for individuals (servicemembers, their family members, DoD civilians, and national guardsmen and reservist) to the Military Saves pledge. Partner with non-profit organizations and on-base financial institutions to and increase awareness and visibility.

Military Saves Quarterly Meeting #MSW2016 Set a Goal. Make a Plan. Save Automatically.

Nancy Register America Saves & America Saves Week Katie Bryan, Director of Communications

America Saves seeks to motivate, encourage, and support low- to moderate-income households to save money, reduce debt, and build wealth. The research-based campaign uses 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 utilizes the principles of a social marketing campaign to persuade, motivate, and encourage military families to save money every month, and to encourage leaders and organizations to be aggressive in promoting automatic savings. America Saves Week is coordinated by America Saves and the American Savings Education Council. Started in 2007, the Week is an annual opportunity for organizations to promote good savings behavior and a chance for individuals to assess their own saving status. About Us

Resources for Organizations Promotion and marketing: available materials that can be co-branded

Resources For Savers Goal-based texting tips & reminders encourages continued saving. Text Examples: America 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. America Saves: Need to pay off debt from last holiday? Pay off debt with double-digit interest rates. America Saves: Once a month, use records to review what you've purchased. Reallocate some of this spending to emergency savings.

Communications Planning MilitarySaves.org

Military Saves Quarterly Meeting #MSW2016 Sign Up Your Organization for Military Saves Week 2016! Promote: To new and existing customers and community partners utilizing co- branding materials and resources during Military Saves Week New and existing products, accounts, and services that incentivize savings during the week The message of savings within branches with Military Saves materials and recourses Outreach through press releases/events, social media venues, blogs and local media

Military Saves Quarterly Meeting #MSW2016 Sign Up Your Organization for Military Saves Week 2016! Inform: Offer marketing materials and resources that encourage positive savings behavior Include messaging promoting Military Saves Week on your website, newsletter, and/or blog. Communicate your participation in MSW regularly to individuals and partners through reminder s. Tweet and post social media messages included in Partner Packets to Facebook and Twitter Organize promotional events, financial seminars, workshops in partnership with PFMs and BLOs

Military Saves Quarterly Meeting #MSW2016 Sign Up Your Organization for Military Saves Week 2016! Act: Sign Up your institution to participate in MSW Embed Pledge Form on your institution public website, integrating form with products. Text Messaging (institutions currently utilizing platform) reminding savers about their saving goals. Market appropriate savings accounts, IRAs, CDs, and other wealth building accounts Collaborate with instillation leadership, through PFMs and BLOs to increase participation

How can we help you? James Lander Military Saves Director (202) Alecia Blair Military Saves Communications Associate (910) Contact Us