Coordinating Committee March 2009 - Military Saves
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  • National Savings Forum, October 24, 2007
  • National Savings Forum, October 24, 2007
  • National Savings Forum, October 24, 2007
  • National Savings Forum, October 24, 2007
  • National Savings Forum, October 24, 2007
  • National Savings Forum, October 24, 2007
  • National Savings Forum, October 24, 2007
  • National Savings Forum, October 24, 2007

Coordinating Committee March 2009 - Military Saves Coordinating Committee March 2009 - Military Saves Presentation Transcript

  • Military Saves Week 2009 After Action Report
  • Agenda
    • Welcome
    • Introductions
    • Initial post-Week Results (staff and around the room)
    • Next steps in reporting and evaluation (Steve)
    • Re-branding – presentation (time/date/location)
    • Deployment Savings resource
    • Youth
  • America Saves
    • AmericaSaves.org visits:
      • Dec: 31,705
      • Jan: 40,414
      • Feb: 57,595
    • AmericaSavesWeek.org visits:
      • Dec: 6,017
      • Jan: 9,728
      • Feb: 25,088
    • Press Hits: Over 100, including some great local press. Covered by Humberto Cruz, Bloomberg, Jean Chatzky, Chicago Trib, Newsday, US News & World Report
  • America Saves
    • Groups:
      • National/regional/statewide: 130+
      • Local groups that filled out participation survey: 400+
    • Savers enrolled
      • 23K since beginning of the year
      • Up to 161K from 138K
  • Top 10 Referring Websites
    • Dodcommunitybank.com
    • Armymwr.com
    • Commissaries.com
    • Infostop.ssfcu.org
    • Military.com
    • Navyfederal.org
    • Americasavesweek.org
    • Navylifepnw.org
    • Stumbleupon.com
    • Webmail.aol.com
  • Top 10 Viewed Pages
    • Military Saves
    • Enroll Now
    • Resources
    • About Us
    • Why Join
    • Individual Resources
    • Success Stories
    • Organizational Resources
    • Media
    • Graphics Package
  • Top 10 Countries
    • Spain
    • Japan
    • Germany
    • UK
    • Iraq
    • Italy
    • S. Korea
    • Turkey
    • Kuwait
    • Bahrain
  • Top 10 Unusual Countries
    • Nigeria
    • Russia
    • Cuba
    • China
    • Lebanon
    • India
    • Ukraine
    • Iran
    • S.Africa
    • Vietnam
  • Most Unusual Endorsement
  • Numbers of visits to militarysaves.org
  • As of March 11, 2009
  • Military Saves Week 2008/2009 Military Savers   1/1/2008 – 3/9/2008 2/24/2008 - 3/1/2008 1/1/2009 – 3/9/2009 2/22/2009 - 3/1/2009 Navy 1739 1141 3392 2050 Air Force 4762 2534 5607 2985 Army 3146 1695 5346 3001 Marines 447 337 632 319 Total in Database 13981 7972 18136 10354
  • ABA Military Saves Activity
    • The ABA Education Foundation, the financial education subsidiary of ABA, promoted America Saves and Military Saves to 8,000+ bankers through three editions of its e-newsletter, The Spirit of Banking .
    • In addition, bankers will be asked to report their activities to America Saves/Military Saves in the March edition of The Spirit of Banking .
  • ASMC
    • Had email dialogue with VCSAF regarding Mil Saves
      • He asked A1 to get involved and learned A1 is involved, hosting campaigns across the AF
    • Confirmed Mil Saves has booth at ASMC PDI in San Antonio
      • Working to get volunteers to man the booth
      • Captured time slot to brief Presidents
    • Booz Allen hosting Jun event
  • InCharge Education Foundation Military Money
    • Distributed Military Saves information in the Military Money Insider January and February e-newsletter (13,000 subscribers)
    • Distributed Military Saves info in the MilitaryMoney.com e-newsletter (2500 subscribers)
    • Inserted the Military Saves poll on the MilitaryMoney.com website
    • Attended the Military Saves kickoff event held at the Pentagon
  • NMFA
    • The National Military Family Association
    • highlighted Military Saves in our feature article of The Voice and participated in the Financial Challenge Event at the Pentagon.
  • Office of Personal Finance OUSD (Military Community and Family Policy) 12 March 09
    • Military Saves Campaign 2009
    • Letter from Dr. Chu Jan 2009
    • Financial Council Meeting with Service Personal Financial Managers (PFM)
    • Coordination meetings/ DoD Partners
    • Service Communication Plan
    • Coordination with OSD public affairs
    • Military Saves Campaign 2009
    • Military Saves Financial Fair at the Pentagon
        • DOD Financial Partners participated
        • Exhibited financial materials and provided information on various financial areas.
        • All exhibitors were well received by troops and civilians.
        • Observed senior Service members were interested in TSP, learning about investing and saving money.
    • Military Saves Campaign 2009
    • Military Saves Roadshow Events:
      • Naval Base San Diego
      • MCRD San Diego
      • Murphy Canyon Chapel San Diego
      • Camp Pendleton (x2 + Military Youth)
      • MCAS Miramar
      • MCAS Beaufort
      • Parris Island
      • NAB Little Creek
      • USS PELELIU
      • Los Angeles AFB
    • Focus on Military Saves throughout the year: 1 st Qtr: “Save and Invest” 2 nd Qtr: “Military Youth” 3 rd Qtr: “Debt Reduction” 4 th Qtr: “Retirement”
    • Military Saves Campaign 2009
    • Office of Personal Finance
    • Points of Contacts
    • CDR Dave Julian, Director
      • [email_address] , 703-908-6236
    • Dr. Randy Eltringham, Program Manager
      • [email_address] , 703-908-6374
    • Mr. Frank Emery, Program Manager
      • Faemery@gmailcom, 703-908-6373
    • Ms. Brenda McDaniel, Program Manager
      • [email_address] , 703-908-6372
    • Mary Bell, Curriculum Development, 703-908-6371
    • [email_address]
    1560 Wilson Blvd, Suite 600 Arlington, VA 22202
  • Air Force
    • 5,589 Airmen and Family members took the “Saver’s Pledge”*
    • MAJCOM AARs still coming in…
      • AFSPC (8 bases) reports 72 events and over 1183 event attendees
        • 20 Military Youth Saves events for all ages
            • - 3 long-term Combat Debt program at FE Warren
    • 3 DoD Financial Roadshow events
      • LA Air Force Base
      • Davis-Montham
      • Little Rock
      • * As of 9 Mar 09
  • Military Saves – Navy Effort
    • Military Saves pledges increased
    • 54% from 2008
    • Command-administered initiative
    • Significant financial partner involvement
    • Aggressive media campaign
    • Broad support by Navy leadership
    • Military Millionaires in the making
    One of hundreds of events during Military Saves Week, Larry Winget talks to Sailors aboard USS PELELIU (LHA 5)
  • USMC
    • Senior Leadership Support
    • Aggressive Marketing Campaign
    • Prominent Guest Speakers
    • Financial Partner Involvement
    • DoD and FINRA Road Shows
    • Military Saves pledges decreased by 9% from 2008
  • NGB Family Programs
    • Military Saves Campaign Information regularly distributed to 54 SFPDs/92WFPCs
    • Financial WEBINAR Classes for Guard Family Training Modules
    • guardfamily.org website financial information under announcement banners
    • Field briefed on NGB FP’s Military Saves initiatives through 2009
  • Air Force Aid Society
    • Promoted Air Force Saves Week on Website and in Newsletter
    • Funded Sammy Rabbit visits to four AF bases:
      • Davis-Monthan
      • Holloman
      • Hill
      • Wright-Patterson
    • by Mr. Jeff Halstead 355th Force Support Squadron 3/2/2009 -  DAVIS-MONTHAN AIR FORCE BASE, Ariz.  -- Mr. Sam Renick, a children's author, brought "Sammy Rabbit," a children's character he co-created, to visit Borman Elementary School and the D-M Child Development Center here Feb. 25, to teach young children about developing good money-saving habits during the Defense Department's Military Saves Week. "There are 30 lessons we seek to teach the children during the presentation, well beyond the simple lesson of savings," Mr. Renick said. Mr. Renick read to the kids about Sammy Rabbit, and then they engaged in interactive learning activities. "Even the adults learned something from each session," says Tracy Canter, Readiness Consultant at the Airman and Family Readiness Center. "We were fortunate to have this event available to our military community." The Sammy Rabbit presentations were only a small part of the many events held at D-M during MSW. The Airman and Family Readiness Center here also provided free oil changes after completion of a budget, held a Piggy Bank Pageant and Financial Tug of War at the Youth Center, conducted a special class called "Locomotive Finances," and concluded the week with "Financially Fit to Fight," an all day colloquium of 16 classes and guest speakers concerning personal finance.  Mr. Renick's and Sammy Rabbit's visit to D-M was funded by the Air Force Aid Society.
    'Sammy Rabbit' targets younger audience during Military Saves Week
  • Navy Marine Corps Relief Society Military Saves 2009 1 st Quarter
    • At 54 Offices World-Wide NMCRS Partnered with :
    • Area Coordinators
    • Navy Fleet and Family Service Centers
    • Marine Corps Community Services
    • Local banks
    • Road Shows
  • North & South East- 5 Navy
    • Slogan; Feed the Pig
    • Week Long Program all over the base
    • Recipes, coupon saving
    • Prepared spending plans
    • Table at Fair
  • Norfolk Area 4 Navy Offices
    • Daylong activities
    • Speakers
    • Tables
    • Signed people up to have spending plans prepared.
    • Encourage saving
    • Gathered pledge signers
  • East: 5 Marine Corps Offices
    • Handouts:
    • recipes that volunteers prepared for a potluck dinner to feed 4 people under $7.50 or under $10.
    • Piggy Banks “Feed the Pig”
    • Gave away Store coupons
    • Offer to help develop spending plans
    • Activities w/ MCCS
  • Southwest: 3 Navy 4 Marine
    • Replaced all reading materials in office w/ financial planning info
    • Clients loved them
    • Encouraged signing pledge
    • Planning for Deployment
    • Developing Spending plan
    • Military Millionaire workshop
  • Northwest & Hawaii: Navy
    • Bulletin Boards
    • Area events
    • Signed people up
    • Tables and displays
    • Encourage Spending plans
  • Overseas: Europe & Far East
    • Okinawa: Road show; table
    • Yokosuko: 5 Mile Run: Director dressed as MoneyMan.
    • Rota: Table w/ Coupon handouts
    • Tables at all events
    • Excellent participation most places.
    • High Command leadership is the key!!
    • Bangor Washington
  • AMBA
    • Armed Forces Bank and Armed Forces Bank of CA supported campaign
      • Bank-wide initiatives
      • Participation in local command-driven activities
    • Participation ranged from donation of savings bonds and/or refreshments to providing financial education classes
  • AMBA Bank-wide initiatives
    • Printed 100K+ pledge cards for customer statements
    • Pledge card attachment with Feb e-statements
    • 25K pledge cars and distributed to all 59 AFB and AFBCA branches
    • Promoted week on both websites for 30 days
    • Waived min balance requirement on regular savings accounts opened during week for 12 mos: 221 opened
    • Offered savings opportunity for workout loan borrowers. Bank lends borrower an add’l $250 which is placed in a CD at current 12 mo market rate. Once load repaid, borrower has $250 CD plus interest: 325 CDs so far this year
  • daveramsey.com/militarysaves Super Saving • Watch Online • Download Audio • Download PDF • Order free DVD Foundations in Personal Finance • Watch Online • Download Audio
  • Super Saving Lesson PDF
  • Who Received Super Saving DVD
    • • Army - 9 Installations
    • • Navy - 8 Installations
    • • Air Force - 13 Installations
    • • Marine Corps - 1 Installation
    • 54 Navy Marine Corps Relief Society Chapters
    • also received the Super Saving lesson.
  • How They Used the DVD
    • • Financial Fairs
    • • Family Days with a focus on Finances
    • • Travis AFB used the video as a follow-up to Military Saves by offering Financial Peace University
  • Savings Lesson • Youth Curriculum Foundations in Personal Finance
  • Evaluation Steve Holt
  • Rebranding 0845-1100, Wed 25 Mar, ICI, 1401 H St NW
  • Deployment Savings Opportunities Using deployment financial opportunities to boost savings
  • Deployment and savings
    • Making a budget is like deciding how to divide up the pie.
    • Deployment offers opportunities to make the pie larger.
    • Having more pie doesn’t mean you have to eat more pie.
  • Deployment and financial benefits
    • Deployment offers allowances, tax breaks, incentives and special pay.
    • The Department of Defense currently has 70 types of special pays and allowances , depending on your deployment and duty status, branch of service, and duty station on the books
    • Find detailed information through your service financial office or online through myPay
  • What to save during deployment
    • Combat zone tax exclusion
    • Pay yourself instead of the government
      • As an E-6 with 6 years, you earn approximately $35,410 per year.
      • The taxes generally add up to $8,800.00
      • Set aside $8,000 in a retirement account with 2% interest for 10 years
      • Saving earns you $1,769.60
  • What to save during deployment
      • Make extra payments on credit cards, student loans, car loans or mortgages.
        • A credit card with a $15,000 balance will never be paid off with the minimum payment.
        • With a payment of $500/month, it will take nearly 3 years and over $2,000 in interest to pay off.
        • A lump sum payment of $8,000 towards this debt saves more than $1,500 in interest payments.
  • What to save during deployment
    • Per diem while TDY
      • Minimize spending, maximize income and saving
    • The difference that $5-$10/day can make…
      • Over a week: $35-$70
      • Over a month: $140-$240
      • Over a year: $1820-$3640
    • Small saving can be the difference between 1 cup of designer coffee per day and an HDTV
      • Paid in cash
      • No debt and no interest payments
    VS
  • What to save during deployment
    • Family Separation Allowance
      • FSA is payable at $250.00 per month and accrues from the day of departure from the home station and ends the day prior to arrival at the home station, in addition to any per diem or other entitlements.
    • Use this cash for taxes, retirement, credit card and loan payments, college savings, home repairs, etc.
    • Also consider using it for something that the whole family will enjoy for years. Paying cash always saves you money over using credit!
  • What to save during deployment
    • Maybe you are considering a family vacation after your deployment ends…and nothing says family like Mickey Mouse!
    • 4 passes for 4 days in Disney World cost $1076.
    • If you pay in cash with your Family Separation Allowance Savings, you pay $1076 .
    • If you put this on a credit card and only pay the minimum, you will pay more than $2,600 over 14 years.
  • What to save during deployment
    • Live alone?
    • Going to be gone for 3 months? 6 months? a year?
    • Consider renting out your house or apartment for extra cash
    • Subletting allows you to cover your housing costs while you still collect BAH.
    • Do you rent?
      • This is a great way to set aside money for a down payment for your first home.
    • Do you own?
      • This is a great way to put money aside for home improvements.
  • Ways to save during deployment
    • Create a rainy day fund
      • Cash has its advantages that credit and long-term accounts don’t offer
      • Short term savings can really save you from the unexpected
  • Ways to save during deployment
    • See you local credit union or military bank to learn more about:
      • Basic Savings Accounts
      • Certificates of Deposit
      • College Savings Accounts
      • IRAs and other retirement accounts
      • Investment options
  • Ways to save during deployment
    • Get sound advice.
    • Online, check out saveandinvest.org for Money & Mobility, information specifically for military personnel and their families
    • See a Personal Financial Manager at you Installation or arrange a consultation with a Certified Financial Planner through Military OneSource.
  • Ways to save during Deployment
    • Saving Deposit Program (SDP)
      • For military members deployed in combat zones, qualified hazardous duty areas, or certain contingency operations
      • Annual interest rate of 10%
    • E-6 salary after 6 years=$35,410
    • Save 10%=$3,451
    • After 12 months in SDP savings = $3,809
    • Reward for saving = $358
    • Save the maximum = $10,000
    • After 12 months in SDP, savings = $11,038
    • Reward for saving = $1,038
  • Ways to save during deployment
    • TSP is a Federal Government-sponsored retirement savings and investment plan.
    • For more detailed information, visit http://www.tsp.gov
  • Join a community of savers
  • Facebook
  • Military Saves on Facebook
    • Reaches a large military audience in their homes
    • Utilizes the existing network of military personnel on Facebook to spread a message of financial readiness with fans of the page and with their peers
    • Updates from Military Saves can easily be sent to all fans. Updates are seen on a fan’s wall by their “friends”, generating great exposure
  • Mission: To Promote Financial Readiness… The page will:
    • Disseminate information & resources
    • Provide education
    • Encourage fans to explore www.militarysaves.org and take the "Saver Pledge”
    • Enable discussion and create a forum for support, encouragement and knowledge sharing among page fans.
  • Overview and Layout: The WALL
    • The wall is the first page visitors see when arriving at Military Saves on Facebook.
    • The Wall features:
    • Tabs to navigate the page,
    • A Greeting/By-line
    • Fans Box: displays who and how many fans there are
    • The Wall itself: Status updates and comments from visitors are displayed here.
  • The Wall, continued…
    • The wall also features:
    • A Military Saves Score Board
    • The Saver Pledge with link to www.MilitarySaves.org , and
    • A brief snippet from the Message tab
  • Tabs
    • Message : A personal message from a noted authority in the field of personal finance. (IE. Beth Kobliner, Suze Orman, Dave Ramsey, etc.)
    • Discussion : Addressed on next slide
    • Resources : List of links to other useful and pertinent websites
    • Boxes : photos, videos, and events can be posted here
  • DISCUSSION BOARD
    • The discussion board is a center for sharing, learning, support and encouragement. Here, page visitors can post their triumphs, trials, concerns and questions.
  • Goal
    • Military Saves’ Page on Facebook will:
      • Enhance the online presence of the campaign working along with www.MilitarySaves.org ,
      • Provide servicemembers with an accessible forum for support, sharing, and learning, and
      • Assist servicemembers in attaining financial success.
  • Military Youth Saves on Facebook
    • Military teens are center of gravity – “owners” of military youth saves
    • All service/all component network of participating teens
      • Facebook, google groups, etc
    • Cultural core – individual participation – with leadership opportunities and outreach to local community
  • Military Youth Saves on Facebook
      • Military Saves
        • Monitors internet forums
        • Provides new materials, shares ideas, assists with problem solving
        • Tracks membership, participation and projects
      • OSD/Services
        • Promote coordination with youth leaders
        • Continuous access and occasionally monitor forum activity
        • Provide new materials and share ideas
  • Military Youth Saves on Facebook
      • Teens & Installation Programs
        • Programs will provide local guidance for events
        • Teens will coordinate and assist with events locally for young children
        • Installations offer support and assistance
      • Networking
        • With each other
        • With professionals (career learning opportunities in finance?)
        • With the America youth saves network
  • Reception invitation: CFA’s Consumer Assembly, 1700-1800 today, Embassy Suites, 900 10th St NW (at K St)
  • Next Meeting 2 June - ue 2 Jun 09, Booz Allen Hamilton courtesy of ASMC rep