WASHINGTON, Nov. 2, 2021 /PRNewswire/ — Navy Federal Credit Union (Navy Federal), Pentagon Federal Credit Union (PenFed), and USAA are becoming a member of collectively to assist discover options for moveable and versatile profession alternatives for navy spouses. The three monetary companies corporations – all based to serve the navy neighborhood – have dedicated $1 million to Blue Star Families to conduct analysis over the subsequent three years that builds upon earlier analysis and helps establish root causes of navy partner unemployment and underemployment.
“Military spouses are critical to the community and family unit,” stated the chief government officers of Navy Federal, PenFed and USAA in a first-ever joint assertion. “It is well known that military spouses face unique employment challenges compared to their civilian counterparts, which hinders their careers, family livelihood and impacts the broader military community. Our companies are committed to helping address this critical issue in support of our military families and their communities.”
According to the Department of Defense, 22% of navy spouses had been unemployed in 2019.That determine has not considerably improved since 2012. Since the beginning of the pandemic in March 2020, the state of affairs worsened for navy households, with 42% of navy partner respondents who had been working previous to the pandemic reporting that that they had stopped working sooner or later.
“Military spouse unemployment is consistently a top challenge presented to our military families and one that requires renewed attention, collaboration, and innovative solutions,” stated Kathy Roth-Douquet, CEO of Blue Star Families. “Our hope is that through this concentrated research, supported by Navy Federal, PenFed and USAA, we’ll be able to uncover what works to find replicable solutions to increase sustainable career opportunities for military spouses.”
The analysis part of the initiative will kick off in January 2022 and proceed by way of 2024. Results from the analysis can be launched at key factors over the subsequent three years, which can assist to direct and inform the subsequent part of labor to assist shut vital gaps in packages and assets in help of navy partner employment. This effort will construct upon initiatives that the three corporations, respectively, have supported, engaged with, and led to assist take away vital limitations to navy partner hiring.
More data on the initiative could be discovered at https://bluestarfam.org/careers/
About Navy Federal Credit Union
Established in 1933 with solely seven members, Navy Federal now has the distinct honor of serving over 10 million members globally and is the world’s largest credit union. As a member-owned and not-for-profit group, Navy Federal at all times places the monetary wants of its members first. Membership is open to all branches of the armed forces and their households. Dedicated to its mission of service, Navy Federal employs a workforce if over 19,000 and has a worldwide community of 347 branches. For extra details about Navy Federal Credit Union, go to navyfederal.org. Federally insured by NCUA. Equal Opportunity Employer.
About Pentagon Federal Credit Union
Established in 1935, Pentagon Federal Credit Union (PenFed) is America’s second-largest federal credit union, serving 2.4 million members worldwide with $30 billion in property. PenFed Credit Union gives market-leading certificates, checking, credit playing cards, private loans, mortgages, auto loans, student loans, and a variety of different monetary companies. Our mission is to empower members of our neighborhood to realize their monetary well-being. To study extra, go to www.penfed.org.
Founded in 1922 by a bunch of navy officers, USAA is among the many main suppliers of insurance, banking and funding and retirement options to 13 million members of the U.S. navy, veterans who’ve honorably served and their households. Headquartered in San Antonio, USAA has places of work in seven U.S. cities and three abroad areas and employs greater than 36,000 individuals worldwide. Each yr, the corporate contributes to nationwide and native nonprofits in help of navy households and communities the place staff reside and work. For extra details about USAA, comply with us on Facebook or Twitter (@USAA), or go to usaa.com.
About Blue Star Families
Blue Star Families is the nation’s largest grass-roots navy household help group, with a mission to help navy households to enhance navy readiness. Its distinctive strategy builds stronger communities round navy households by way of data and packages that tackle the distinctive wants of those that serve. Blue Star Families’ nationally acknowledged surveys and evaluation give navy households an vital voice that informs policymakers and its navy household packages. It makes use of the facility of its collective assets and cross-sector collaborations to make a distinction within the lives of a whole lot of hundreds of members of navy households to strengthen the troops, their households, and our nation as an entire. For extra data, go to bluestarfam.org.
View unique content material to obtain multimedia:https://www.prnewswire.com/news-releases/navy-federal-credit-union-penfed-credit-union-and-usaa-launch-military-spouse-employment-initiative-301413524.html