Regular deployments and transfers can keep numerous army families determined by a solitary source of income. Deficiencies in monetary training can leave them susceptible to products that are risky like high priced payday advances. A day before payday in the latest Credit Union Tracker, Jaspreet Chawla, VP of membership at Navy Federal Credit Union, tells PYMNTS how overseas deployments often disrupt financial lives вЂ” and why addressing their needs includes tailored solutions, such as giving early access to paychecks.
People who choose for a lifetime career into the military understand the challenges and risks all too well. Servicepeople should not need to worry about cash with the rest on the dishes, but residing a lifestyle that is highly mobile working with dangerous work conditions and handling international deployments makes it hard for them to control their individual funds.
One institution that is financialFI) seeking to appeal to servicepeople’s unique needs is Navy Federal Credit Union (NFCU), which holds significantly more than $92 billion in assets and presently acts over 8 million users of the U.S. Continue reading Navy Federal Deploys Financial Literacy To Your Front Lines