Military veterans and the CEOs of RedBalloon and MilitaryHire speak exclusively to Fox News Digital about how they’re helping service members transition into the civilian workforce.
USAA, a financial institution dedicated to serving the U.S. military community, is committing $500 million over five years to help veterans and military spouses build strong careers, improve their financial security and support their mental health.
The funds will fuel USAA’s “Honor Through Action” campaign, which is geared toward ensuring veterans and their families are supported and advocated for.
“For more than a century, USAA has advocated for those who serve,” USAA CEO Juan Andrade said. “Honor Through Action reflects our shared responsibility to act and help the military community thrive in every aspect of life – personally, professionally and financially. Supporting those who serve is not just what we do – it is who we are. It is how we take care of our own.”
Fewer than one in five transitioning service members feel fully prepared to secure civilian employment, USAA said, citing data from the Department of War’s Transition Assistance Program. Additionally, the average tenure is less than a year. The unemployment rate for military spouses remains four times higher than the civilian rate, according to Blue Star Families. USAA seeks to change that.
Fewer than one in five transitioning service members feel fully prepared to secure civilian employment, according to USAA. (Getty Images)
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USAA, founded by a group of military officers in 1922, currently serves 14 million members of the U.S. military, veterans who have honorably served and their families.
This five-year commitment will leverage partners across the public, private and nonprofit sectors to help in its mission to empower the veteran community, according to USAA.
Here are the three focus areas of the campaign:
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Careers
USAA said it will help the community with career navigation, employer engagement and skills development as well as offer community support. USAA’s plan involves partnering with companies to promote military-friendly hiring and retention, advocating for better access and flexibility to overcome a key barrier to employment, as well as funding programs that guide career choices, networking and professional growth. USAA will also invest in training, education and systemic changes to ensure military talent is fully utilized.
The U.S. Department of Veterans Affairs building is seen in Washington, D.C., on July 22, 2019. (Photo by Alastair Pike/AFP via Getty Images)
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Financial Security
To help these families financially, USAA offers disaster relief, food assistance and tax credits to help families handle financial crises. It also aims to equip families with the tools and training to build long-term financial resilience through the USAA Educational Foundation. USAA contributes more than $80 million annually to programs that strengthen financial security within the military community.
Korean War veteran Nick Spanovich walks the flags at the Field of Valor in Orange, California. (Paul Bersebach/MediaNews Group/Orange County Register via Getty Images)
Well-Being
USAA’s “Honor Through Action” initiative builds on its Face the Fight program to prevent veteran suicide and expand support for physical health, caregiver resources, community connection and efforts to prevent veteran homelessness. The company aims to shift the narrative around mental health by encouraging veterans and military families to view seeking help as a sign of strength – whether for emotional well-being, finances or careers.
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USAA is also investing in peer-to-peer support, including programs where veterans help fellow veterans and spouses support one another, and partnering with healthcare and community organizations to strengthen cultural understanding and readiness to serve the military community.