Financial coaching is provided through an initiative of the Consumer Financial Protection Bureau (CFPB), a federal government agency. This program is managed through a contract with Armed Forces Services Corporation (AFSC) / Magellan Federal.
About AFSC/Magellan Federal
AFSC/Magellan Federal has a 137-year legacy of service and support to Warriors, Veterans and their Families. As a leading provider of military health and human capital services to the federal government, AFSC/Magellan Federal’s innovative and compassionate services have been recognized by leaders throughout Congress, DoD, VA and top advocacy groups.
The CFPB Office of Financial Empowerment works to empower low-income and economically vulnerable consumers to make informed financial decisions by providing them with tools and information and by promoting a more inclusive and fair financial marketplace. They work closely with social service providers, financial educators, and community-based organizations, to reach low- to moderate-income consumers where they are and get them information when they need it most.
Office of Service Member Affairs
The CFPB Office of Service Member Affairs works on consumer financial challenges affecting military personnel (including retirees and Veterans) and their families. They do this through financial education, monitoring of complaints submitted by consumers to the CFPB, and coordinating with other Federal and state agencies on military consumer protection measures. The Office of Service Member Affairs understands that military life has some extra challenges, such as deployment and frequent moves, and that those challenges can have powerful financial repercussions.
Their job is to make sure that others understand the unique consumer financial challenges faced by the military, and to encourage agencies to use their powers to make financial markets work better for our military and Veteran families.