CFPB Offers Assistance Tool for Servicemembers!
Are you or someone close to you a member in the armed forces? If so, Sioux Empire Federal Credit Union would like to share a resource provided by the Consumer Financial Protection Bureau (CFPB). Recently, they have significantly expanded its Misadventures in Money Management financial education tool to active-duty servicemembers.
Misadventures in Money Management (MIMM.gov) was initially developed for future servicemembers who signed a contract to enlist in the armed forces but had not yet shipped off to basic military training. Now, the program is available for all servicemembers on active duty, including in the Reserve or the National Guard.
“Misadventures in Money Management is a valuable resource for servicemembers and their families that helps them understand their options in the financial marketplace so they can avoid the most common mistakes,” said CFPB Director Kathy Kraninger. “Improving the financial readiness of our military servicemembers is important so they can focus on the mission at hand.”
The assistance program covers topics including consumer financial decision-making, choosing a financial institution, understanding protections under the Servicemembers Civil Relief Act, and understanding how debt can affect a military career. Learn more here.