How to Be A Military Saves Campaign Champion! Sarah Shirley America Saves/CFA Army Military Pre-Conference (AFCPE) 14 Nov 06, San Antonio

2 Why Military Saves in DOD? Increase Awareness and Abilities –Drive demand for financial literacy, education, and counseling –Taking steps required to make simple plan Increase Savings, Reduce Dependence on Credit Increase Protection Against Predatory Practices

Campaign Schedule Last Sun in Feb – 1st Sun in March: Military Saves Week 25 Feb – 4 Mar Feb – 2 Mar 08 Last Business Week of Oct: Defense Credit Union and Military Bank Co- Branded Promotions Oct 07

4 Continuity: “Action Modules” (in development) “Enlist in Financial Independence” – Recruiting “Right Start for Wealth” – Boot Camp, Tech Schools, other orientation and training venues “Cash In On Deployment” – Pre-deployment through re-deployment and reunion call to action (SDP, TSP, debt reduction) “Do it Now” – Call to action module for PFM classes and other briefings

5 America Saves Campaigns Social Change Movement Makes Financial Readiness Everyone’s Concern, Empowers Them to Help Creates Hope for the “Broke” Offers New Way of Thinking for the “Getting by Just Fine” Drives Demand for Financial Education, Counseling, and Products

6 CFA’s Campaign Partners Military Banks Defense Credit Unions DOD and DOD Financial Readiness Campaign Partner Organizations NASD Investor Education Foundation ($) Wells Fargo Home Mortgage ($) Cooperative Extension & 4H IRS

7 Servicemembers: Jr. Enlisted Crystal is a young, single E4 who spent what she made and had credit card debt. She hadn’t even thought about saving until her unit got involved with Military Saves. Now she has no debt, an emergency fund, a retirement account, and a house down payment fund. Read her story in the Spring 06 American Saver at

8 Servicemembers: Officers Robert (not his real name) is a 39-year-old O4, married with 4 kids. His family was buried in debt and felt hopeless – $25k in credit card debt, almost $200k in student loans. Spurred to action by Military Saves and supported by the small-group education program Saves helped him find, Robert’s family has no credit card debt, $3,000 in an emergency fund, and has bought a second used car in cash.

9 Servicemembers: The Pilot Initial Kick-off 7 Feb 06 Eglin AFB 1151 Savers, total $2.9 million Average $209 per month Top 5 goals #1 general savings/investment #2 retirement #3 emergency fund #4 debt reduction #5 home ownership

10 You, A Champion! Join today: Affirm Social Marketing Support the “Twin Engines” –The Marketing/PA Campaign –The Saver Drive Advise Your Commander (highest level) –Subject Matter Expert –Be Realistic Work the Network – Break the Stovepipe!

11 Force-Wide Campaign DOD/Service-level PA Links and Enrollment Form on Many Websites Messages (electronic and print) by Key Leaders –note: these people need to be enrolled Savers!!! DOD Kick-off Event Virtual “Saver Drive”

12 Local Implementation Twin Engines: Marketing & Membership Multi-functional Working Group Coordinates Marketing, PA, Community-wide Events Key Workers Conduct Saver Drive (like CFC) 100% Personal Contact Promotions to Encourage Savings and Push MilitarySaves.org Emphasis on Actions that Reduce Debt and Increase Savings

13 Commanders’ Role “Intrusive Leadership” Set personal savings/debt reduction goal at Endorse a financial readiness culture –Proclamations, Briefings, Interviews –Taskings to Subordinates Military Saves Week Financial Readiness emphasized in orientation briefings, trainings, and throughout deployment cycle

14 Commanders’ Role, continued Tasks to Prepare for the Week Authorize Standing Committee with High-level Uniformed Chairperson –Functionals: PA, Finance, MWR, AAFES, MAC, government officials, relief societies, DECA, CU, bank, etc. Appoint Command Key Worker or Team (FGO, E-9, GS13+, E-9 spouse, lead contractor) Task Key Workers Throughout Command (think CFC model) Enroll Everybody – family members, enlisted, officers, civil servants, contractors Goal: 100% contact!

15 Bank/CU Participation Incentive-Based Savings and Debt-Reduction Products Financial Education and Counseling Co-branded Initiatives during October preview week, Military Saves Week, and throughout the year Internal Saver Drive Customer Outreach Increase deposits Sell payday loan alternatives with debt elimination plan Support Installation Campaign

16 Private Organization Participation In-house (employees, members, students, customers) Saver Drive Place Ads and Articles in Organizational Publications and Website Promotion Networking with Other Organizations Support Installation Campaign

17 CFA Provides Campaign Framework and Checklists Graphic Elements for Print, Electronic, and Ad Specialties Radio PSAs (ASEC TV PSAs available) Web & Database Hosting Campaign Coordinator Conferences On-Site Training Available

18 Build Wealth. Not Debt. Discussion. Sarah Shirley, ,