Non-profit Launches Free Online Money Management Tool for Veterans, Service Members and Their Families
VeteransPlus, a 501 (c)(3) financial education organization, announced the groundbreaking release of the first dedicated money management system for military and veteran families. www.YellowRibbonCompass.org. The new technology, branded COMPASS includes standard features like transaction monitoring, budgets and interactive cash flow reporting. COMPASS is a FREE tool that helps save money by visualizing exactly what is spent every day, week, and month. COMPASS also solves the problem Americans say they face when trying to budget; that there's no easy way to list and fine-tune all income and expenses in a given space or application. People make many of their financial transactions on the go. With COMPASS you’ll be able to get personalized financial guidance wherever you are. Whether the user accesses the tool from their home computer or smart phone, COMPASS can help navigate finances including: cash balance, bills left to pay, how much is available to spend, and more importantly, how much can be saved. Users can also track bank accounts and progress against their budget since COMPASS auto-categorizes expenses with 99% plus accuracy.
Additionally by the end of 2015, VeteransPlus will launch The Yellow Ribbon Network, which will include COMPASS and other free programs to provide military members, veterans and their families with options that support the development of good financial habits. “Thanks to a grant from the MetLife Foundation, these types of tools will be available to those who have fought to defend our right to be financially secure”, said John Pickens III, Executive Director of VeteransPlus. Dennis White, CEO and President of MetLife Foundation notes that “MetLife Foundation is proud to support our veterans. The Foundation chose to extend its partnership with VeteransPlus on the COMPASS program not just because of their technically strong work, but, importantly, because of their deep understanding and commitment to the constituents, our military men, women and families”.
Compass also provides an interactive calendar where users can set-up alerts on low balances and reminders for bills. The alerts can be customized and emailed to the user to assist them in keeping track of each bill or transaction they may need to follow. Features like this can be important because on time payments play a major role in credit reporting and ratings. “In fact, security clearance is a real issue as credit ratings drop and insurmountable debt is accumulated when dealing with income fluctuations partially due to predatory lenders being readily available outside every military base.” On that note, VeteransPlus takes its own security very seriously. COMPASS is protected with world-class security so users can be assured that their personal and financial information is as safe as the money in their bank.
About VeteransPlus
VeteransPlus is a financial literacy organization devoted to improve the quality of life of those who have worn our nation's uniform and their families by providing unparalleled solutions that focus on financial security and support of pursuing their economic goals. To learn more, visit www.VeteransPlus.org
About the MetLife Foundation
MetLife Foundation was created in 1976 to continue MetLife’s long tradition of corporate contributions and community involvement. Since its founding through the end of 2014, MetLife Foundation has provided more than $670 million in grants and $70 million in program-related investments to organizations addressing issues that have a positive impact in their communities. Today, the Foundation is dedicated to advancing financial inclusion, committing $200 million to help build a secure future for individuals and communities around the world. To learn more about MetLife Foundation, visit www.metlife.org.
