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Supporting Veterans Beyond Service: VyStar’s commitment to military families

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By Petra Nelken, Senior Impact Evaluation Associate, CNote
December 16, 2024

Military personnel and veterans choose to dedicate themselves to the service of others, a commitment that brings unique responsibilities and sacrifices. These experiences shape their lives both during and after their time in uniform. While their service is a source of pride, it can also present challenges, particularly when transitioning to civilian life. Many veterans face financial difficulties, from accessing credit to managing day-to-day expenses, complicating their reintegration into society.

Pew Research shows that veterans often encounter higher rates of financial instability, with difficulty finding stable employment and managing personal finances. The Wounded Warrior Project reports that many veterans struggle with financial management, whether it’s budgeting for everyday life or planning for the future.

VyStar Credit Union, founded in 1952 at Naval Air Station Jacksonville, was created to meet the financial needs of military members and their families. Over the decades, VyStar has expanded its reach, becoming the second-largest credit union in Florida. Through responsive and innovative products, it has maintained its commitment to the military community. Today, VyStar serves 1 million members, including active-duty military personnel, veterans, and their families. VyStar is also a Community Development Financial Institution (CDFI) and a Low-Income Designated (LID) credit union, reflecting its mission to support underserved communities.

As part of this commitment, VyStar partners with CNote through the Impact Cash® program. This collaboration channels deposits from corporate and institutional investors into mission-driven financial institutions like VyStar, allowing the credit union to enhance its liquidity while continuing to serve military members, veterans, and underserved communities through critical financial products and services.

VyStar forms strategic partnerships with organizations that support our military, working with numerous nonprofit that support military members and engaging in more than a dozen military‐focused events, charities, and initiatives. A few examples include:

  • The VyStar Veterans Memorial Arena (“VVMA”) offers concession, ticket, and parking discounts at every event when military personnel use their VyStar card and/or show a veteran ID. Arena patrons are presented with the option to donate to an approved veteran program, which we match annually.
  • The VyStar‐sponsored Military Appreciation Luncheons hosted by the Clay County, Gainesville and JAX Chambers of Commerce honor and celebrate local active duty and retired military personnel.
  • The NAS Jax Air Show has been sponsored by VyStar since 1991.
  • VyStar’s 2021 donation to the Cecil Field POW/MIA National Memorial and matching campaign pledged an additional $150,000 in support by matching donations up to $150,000 through year-end.

VyStar’s commitment extends beyond financial services. In November 2022, VyStar partnered with the U.S. Army’s Partnership for Your Success (PaYS) Program, which guarantees interviews and possible employment for soldiers transitioning into civilian life. This initiative aligns with VyStar’s values, recognizing the leadership veterans bring to the workforce and offering meaningful career opportunities. As a Military Friendly® Employers, VyStar actively recruits veterans and military spouses, helping them transition smoothly into civilian careers.

VyStar remains a dedicated partner for military personnel and veterans. Its broad range of services helps veterans address financial and career challenges while honoring their service to the country.

Connect with CNote to learn more.

Petra Nelken, senior impact evaluation associate at CNote, works on the impact evaluation team at CNote, a certified B Corp driving financial inclusion through mission-driven investments. With a focus on sustainable finance and economic empowerment, Petra uses data and storytelling to connect impact investors with authentic community investments that uplift underserved communities, ensuring that capital flows where it's needed most.

About CNote

CNote’s community investment technology connects credit unions to non-member deposit opportunities. A women-led social enterprise on a mission to close the wealth gap in the United States, CNote has made it easier for individuals and large institutions like Mastercard, PayPal and Sierra Club to move deposits into mission-aligned credit unions. 

Learn more about CNote