The financial services company USAA has partnered with the nonprofit US VETS on a new program designed to combine affordable housing investments with personalized financial coaching and wraparound support to help prevent homelessness among veterans.
This new initiative will operate across US VETS residential programs, community-based service centers and homelessness prevention-focused Veterans Connection Hubs. US VETS will provide on-site financial counselors to help veterans with budgeting, rent planning, credit repair and transition planning. Veterans will also receive home-based case management, benefits screening, job training and one-on-one financial coaching using educational curricula developed by the USAA Educational Foundation.
Rather than treating housing and financial stability as separate challenges, the program seeks to identify and address the financial challenges that often precede housing instability and create a stronger path to long-term recovery. The program is being offered with Honor Through Action, USAA’s five-year, $500 million commitment to strengthen military families and communities, with the goal of helping up to 50,000 veterans currently experiencing financial risk.
“Too often, homelessness is the final chapter of a much longer financial struggle,” said Brett Seybold, chief financial officer of USAA. “If we can help veterans build financial stability before they reach a crisis, we can change the trajectory of their lives. That is why we are investing in solutions that bring together housing, financial guidance and trusted community partners. Every veteran deserves not only a place to live, but the opportunity to build a secure future.”
“No veteran should have to experience homelessness because of a financial setback,” said Darryl Vincent, president and CEO of US VETS. “This partnership reflects a shift from responding to crisis to preventing it. By combining financial resiliency with housing and wraparound support, we’re helping veterans build stronger futures before they reach the point of losing their homes. We’re grateful to USAA for investing in a solution that addresses the root causes of housing instability.”
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