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This dollar does not come with instructions. It doesn't tell you how to make more of these,
it doesn't tell you how to hold on to them or make them grow, or how to spend them wisely.
So this is what hands-on-banking-dot-org does.
Wells Fargo's Brian McCullough is talking to military families about the new Hands on
Banking course geared specifically to their needs.
It speaks in the vernacular that the military member uses. Things such as an LES statement,
which is the equivalent is paycheck, and other entitlements that military members receive
such as the Basic Allowance for Housing, or BAH, Basic Allowance for Subsistence, BAS,
our curriculum speaks that language so the military member can better understand financial
readiness.
Because when it comes to the armed forces, being "financially" ready is close to being
mission ready.
In 2012, it was announced by the Secretary of Defense that lack of financial readiness
is the main reason why military members lose their security clearance. So, Wells Fargo
heard that message and decided to do something about it.
Those who attended said the need for financial education is critical.
Security clearance is everything in the military. You lose your security clearance, jobs are
limited.
I think it's a huge need. Seeing first hand the accounts of sailors making poor decisions.
I myself, made poor decisions when I was younger. And these tools weren't there for us and I
think it's a great opportunity for new sailors, old sailors, middle aged sailors to get out
and learn about money, money matters and how to spend their money wisely.
The day that they start in, their first day in the military, they should start planning
financially to leave the military. And so, there's a great need for something like this
where we increase the financial literacy and financial acumen for active, veterans and
also dependents.
The Hands on Banking curriculum also addresses military families' needs at every stage of
life -- from active duty through retirement.
We're excited to go home and pull up the spending smart page and just plugging in everything
and seeing what we can adjust a little better and just kind of help manage and save a little
more.
Wells Fargo's partner in this work is the National Foundation for Credit Counseling.
The nonprofit will be our "boots on the ground" delivering the education to military personnel
and families across the country.
We are in 700 communities throughout the U.S. And so I think this combination of bringing
together NFCC professionals with the professionals from Wells Fargo in the interest of serving
and doing the right thing, partnering together and really working with the military to serve
them, we think is just critically important and we are delighted to work together on this
important initiative.
The new Hands on Banking module will also be delivered by members of our Veterans Team
Member Network, who provided input on the program's content.
I'm very proud to work for a company takes such a proactive step and has really dedicated
and committed to community outreach as it pertains to the military. When I was in the
service, I obviously didn't have this opportunity I made a lot of financial mistakes. And part
of what I'm really getting out of this and part of what is passionate for me is that
I'm able to provide this education to individuals so that maybe they can eliminate those errors
I made early in my life.