The Veterans Benefits Banking Program provides Veterans with a safe, reliable and inexpensive way to receive and manage their VA monetary benefits.
Now the program has added a new component with the integration of a newly redesigned VetCents, which helps Veterans gain the knowledge, skills and confidence to take control of their financial life.
This integration multiplies VBBP’s and VetCents’ potential to support the financial wellbeing of those who have served our country as they navigate their financial journey.
VBBP is a partnership between VA and the Association of Military Banks of America (AMBA), and since December 2019, has helped more than 300,000 Veterans and their beneficiaries transition from paper checks to direct deposit. VBBP started with only four participating financial institutions. There are now 95 Veteran-friendly financial institutions participating (32 banks and 63 credit unions), all of which have taken a pledge to help Veterans, their families, caregivers and survivors gain access to the financial system.
“In fiscal year 2023, VBA issued over $13.3 billion a month to our six million Veterans and their families. We take the responsibility for protecting them seriously—and the benefits to which they are entitled—and we are excited that VBBP has allowed us to provide Veterans with enhanced opportunities to achieve financial wellness,” said VBA Deputy CFO Jeanine Gilson. “Having VetCents integrated into VBBP is yet another opportunity for us to be more responsive to Veterans’ financial needs and connect them to resources which can help alleviate financial stress.”
VetCents was created by the Military Family Advisory Network (MFAN), a national nonprofit, to connect families to information and resources that they need to reach their financial goals; the application redesign is its next evolution to provide access to tools and resources that help support financial wellness, and its updates were specifically designed to provide an engaging and interactive experience that will help achieve financial health and security.
Learn more about VBBP at www.veteransbenefitsbanking.org.
Visit app.vetcents.org to sign up and open a VetCents account.
Topics in this story
More Stories
In this news post, we explore the various options designed to keep you in your home, offering hope and possible solutions for when/if you experience financial hardship.
Vietnam Veteran David Chee is among the many Native American Veterans and service members who have dedicated their lives to military service. Chee proudly served with the Army's 82nd Airborne, parachuting into the jungles of Vietnam. Chee now owns a home he purchased on Navajo tribal lands with the help of the VA Native American Direct Loan.
For Veterans, donating to charities—especially those that support fellow service members—feels like a meaningful way to give back to the community. However, Veterans and their loved ones must remain vigilant and learn to protect themselves from charity scams.
with all the middle men and women trying to cash in on real and non-existent veteran benefits on-line, and the rampant take over of your on-line sites, a veteran doesn’t know which ones are legal and which ones will hurt you. so Veterans like me are missing out on moneys available to them due to these scumbags trying to cash in on their scams and cons. we have no way to tell the difference . The VA could put out a new announcements whenever a new legal opportunity is justified my Congress. right now we just wonder and hope some of these will someday become automatic to the veterans over a certain age.
Please contact me