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Cannon kicks off Military Saves Week

  • Published
  • By Staff Sgt. Whitney Amstutz
  • 27th Special Operations Wing Public Affairs
CANNON AIR FORCE BASE, N.M. --  In coordination with the Department of Defense campaign, 27th Special Operations Wing commander, Col. Ben Maitre, signed a proclamation designating Feb. 22 through Feb. 27 as Military Saves Week at Cannon, Feb. 11.

According to the DOD proclamation, Military Saves Week provides an opportunity for members of the military community to come together with federal, state and local resources to focus on the financial readiness of military members and their families, helping them to reduce debt and save their money.

“This designated week provides adequate time to focus on money, which is a large factor in everyone's life,” said Keri McDonald, 27th Special Operations Force Support Squadron community readiness consultant. “It is recommended that individuals review their financial situations to ensure they are meeting goals, evaluate changes that impact their financial lives, review investment strategies and create new goals. It’s important that we take the time to bring financial topics to the foreground.”

Capitalizing on Military Saves Week momentum, several financial-focused workshops are scheduled to take place in the Chapel’s Parrish Hall beginning Feb. 29. The workshops will educate Air Commandos and their families on the Thrift Savings Plan, financial life changes, GI Bill and Post 9/11 benefits, and understanding military pay. Classes on banking, money management and savings will also be provided for pre-teens and teenagers, in addition to a scholarship workshop hosted by the Cannon Library and A&FRC.

“After last year's campaign and workshops, the A&FRC and Financial Military Family Life Consultant saw an increase in the requests for one-on-one personal financial reviews, as well as an increase in TSP and investment education requests,” said Christy Scholl, 27th SOFSS community readiness consultant. “There may be families who live paycheck to paycheck, but with the help of financial counselors they can learn new, individualized methods of money management to improve their financial situation. Military Saves is a great place for someone to get initial education.”

The 2015 Military Saves Campaign at Cannon generated 564 pledges to improve financial health throughout the year. This year, the 27th SOW hopes to accumulate 600 pledges to save, a goal which is particularly judicious in 2016.

“This year's campaign is especially important for several reasons,” said Cynthia Friday-Allison, 27th SOFSS A&FRC chief. “During 2015, Cannon's A&FRC provided $152,000 in emergency loans and $48,000 in emergency grants to 262 military members and their families. Much of this money was provided due to reasons associated with not having adequate savings. Another motivator is the reopening of the Dining Facility and return of the use of meal cards for many Airmen living in the dorms who will no longer be receiving basic allowance for subsistence II. One more reason for individuals to become more savvy in managing and saving their money is the announcement of the blended retirement system due to start Jan. 1, 2018.”

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