Essential financial resources and protections for military families

Serving in the military comes with unique financial challenges — and benefits. If you’re an active duty service member or part of a military family, here’s where to go for financial education and support.

Life in the military comes with unique financial challenges, but also some incredible benefits. Whether you're navigating deployments, adjusting to a new station, or planning your financial future, support is available. The right resources can make all the difference in building stability and achieving your financial goals.

Here’s a look at some essential tools and programs designed to support active-duty service members, veterans, and military families:

1. Servicemembers Civil Relief Act

The Servicemembers Civil Relief Act (SCRA) is designed to protect service members from predatory financial practices. Key features include capping interest rates on pre-service loans and safeguarding against excessive fees. For support enforcing these protections, reach out to an Armed Forces Legal Assistance Attorney.

2. Military Lending Act

This act protects service members from high-interest loans that exceed a capped rate. If you think a lender has violated the Military Lending Act (MLA), consult your local Judge Advocate General (JAG) officer for assistance.

3. Military OneSource

This invaluable resource, backed by the Department of Defense, offers free financial counseling to active-duty service members, reservists, National Guardsmen, and military families. Their counselors are equipped to address the unique financial challenges faced by service members and provide strategies to help you thrive.

4. Military-specific resources at U.S. Bank

At U.S. Bank, we’re committed to supporting those who serve. Here are some examples of what we offer:

• Financial education tools: Access expert insights and actionable advice tailored to the military community.

• Exclusive checking account benefits: Open a Bank Smartly® Checking account and enjoy perks like no monthly maintenance fees for military members.

• VA home loans: With little-to-no down payment options available, our VA loans are designed to simplify homeownership for service members and their families.

• Community and career opportunities: From partnerships with military organizations to career support for veterans, we’re here to help your family thrive on all fronts.

5. Peer support

Don't underestimate the power of relying on your unit to help be a valuable resource.

Find someone in your unit who can be a good mentor. If it’s your first deployment, there’s always someone who’s been through it and can help guide you.

Want to take control of your finances and explore resources tailored to military families? Connect with U.S. Bank today.