As part of a historic commitment by USAA’s Military Family Relief Initiative, Syracuse University’s Institute for Veterans and Military Families (IVMF) received $1.3 million to assist military and their families during these challenging economic times. The gift was given to support the Institute’s mission to further empower military service members, veterans and their families through actionable research, innovative programs and successful analytics.
“USAA is one of our longest and largest funders; and we are honored to continue building upon this relationship as USAA once again answers the call to address the needs of those who have worn our nation’s uniform,” said Maureen Casey, IVMF Chief Operating Officer. “We share USAA’s passion and dedication to this community, especially in these unique and challenging times, and are grateful for their continued support, commitment and collaboration in this important arena.”
The COVID-19 pandemic has had a significant and negative financial impact on military members and their families. According to research from the COVID-19 Military Support Initiative, 25 percent of active military families have been separated from their servicemember due to deployment or pandemic-supporting activations. Thirty percent of military spouses are expected to experience unemployment, nearly four times the level of their civilian peers.
“For nearly a century, USAA’s mission has been to help our members be financially secure and to support them no matter what they face,” USAA President and CEO Wayne Peacock said. “Providing this contribution to organizations such as IVMF that share our mission to care for military families does double duty. It helps meet the needs of today’s military families and veterans. And it gives these organizations momentum to keep serving as a lifeline for the military community.”
Gift dollars from USAA will support new curriculum and learning pathways within IVMF’s career preparation and employment program, Onward to Opportunity; aid in the development of an Employment Research & Insights Hub to assist philanthropy, non-profits, elected officials and local and national leaders in understanding current and future trends in order to make more informed decisions with regard to the veteran and military spouse employment; and support virtual courses, training and resources for IVMF alumni whose businesses have been hit as a result of COVID-19.
For more information about USAA COVID-19 relief efforts, including more than $30 million in donations to organizations serving military and veteran families, visit usaa.com/coronavirus.
USAA
Founded in 1922 by a group of military officers, USAA is among the leading providers of insurance, banking and investment and retirement solutions to nearly 13 million members of the U.S. military, veterans who have honorably served and their families. Headquartered in San Antonio, Tex., USAA has offices in seven U.S. cities and three overseas locations and employs more than 35,000 people worldwide. Each year, the company contributes to national and local nonprofits in support of military families and communities where employees live and work. For more information about USAA, follow us on Facebook or Twitter (@USAA), or visit usaa.com.