EDGEWOOD, Md.–As part of Military Saves Month during April, two Maryland-based credit unions have committed to spreading the savings message.
Freedom Federal Credit Union and Aberdeen Proving Ground Federal Credit Union said they have joined together to sponsor a month-long campaign to encourage and incentivize saving money among service members and their families.
To help encourage military families to make saving a priority, both credit unions are offering a limited-time $50 bonus to Department of Defense employees, military contractors, active duty, reserve, National Guard and retired military personnel and their family members 18 years and older for opening a new membership account at either credit union.
According to the CUs, the bonus is intended to motivate the military and their families to get to know the credit unions and to “begin their journey to long-term, automatic saving.”
Military members are being encouraged to set up direct deposit and enroll in their respective savings programs to continue to grow their nest eggs.
As their respective military installations, Freedom Federal Credit Union and APGFCU said they are collaborating on the initiative annually to encourage service members and their families to take a proactive approach to their financial wellness.
Military Saves is an initiative of America Saves and the Consumer Federation of America.