Veterans Benefits Banking Program Integrates with VetCents to Improve Veterans’ Financial Health

The Department of Veterans Affairs’ (VA) Veterans Benefits Banking Program (https://rly.pt/VAVBBP) 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 (https://rly.pt/VetCents) that offers Veterans ways to gain the knowledge, skills, and confidence they need 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, a partnership between VA and the Association of Military Banks of America (AMBA), has made an incredible impact since its inception in December 2019 by helping 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, and the benefits to which they are entitled, seriously 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, and the application redesign is the next evolution to provide access to tools and resources that help support financial wellness.

VetCents was relaunched (https://rly.pt/VetCentsRelaunch) help Veterans – along with their families, caregivers, and survivors – achieve a happier and healthier financial future. 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 http://www.veteransbenefitsbanking.org.

Visit app.vetcents.org to sign up and open a VetCents account.