| Tuesday, July 18, 2006
Nancy Condon (202) 728-8379
Sarah Bohn (202) 728-8464
NASD Investor Education Foundation Brings Military Financial Education Program To Navy Region Southwest with Six Events in California
Washington, DC — Financial preparedness is a key component of our military's readiness. To help servicemembers and their families understand the basic principles of saving and investing and give them the confidence they need to take control of their financial futures, the NASD Investor Education Foundation will conduct six free financial forums at military installations in California as part of its recently launched Military Financial Education Program.
The forums are scheduled to take place at Naval Air Station Lemoore (July 24), Naval Air Weapons Station China Lake (July 25), Port Hueneme at the Naval Station Ventura County (July 26), Naval Base Coronado (July 27), Naval Base San Diego (July 28) and on-board the amphibious assault ship USS TARAWA, currently docked in San Diego (July 27).
"A lack of understanding of personal finances and money management can contribute to serious financial difficulties," said John Gannon, Executive Director of the NASD Investor Education Foundation. "Those difficulties can lead to a loss of security clearance or possible discharge for servicemembers. Our forums recognize the unique challenges faced by our nation's military personnel and their families and aim to provide them with the tools they need to manage their money with confidence."
Events are open to active duty servicemembers, reservists, National Guard members, military retirees, Department of Defense and Department of Homeland Security civilian employees, and their spouses. For more information about the forums, including detailed event agendas, visit www.SaveAndInvest.org.
Recent forums in Hawaii, Georgia, Japan and on-board the USS RONALD REAGAN, then on a tour of duty in the Arabian Sea, have reached more than 3,000 servicemembers and their spouses with information and tips on avoiding the predatory loan trap, saving for a child's college tuition and planning for retirement. Additional events are scheduled for the coming months at installations around the country.
The educational events are part of a comprehensive financial education campaign. In coordination with program partners including the U.S. Department of Defense, the U.S. Securities and Exchange Commission and the National Military Family Association (NMFA), the Military Financial Education Program puts print and Web-based financial tools and resources into the hands of servicemembers and their families, improves available financial counseling on and near bases and encourages saving.
Research conducted in June 2005 found that only 29 percent of military personnel who currently invest received a passing grade on a quiz about basic financial knowledge. However, 58 percent of survey respondents said that it was very important to them that they become more knowledgeable about saving and investing. The free, online resource center - www.SaveAndInvest.org - serves as a centralized, trusted source for unbiased information on saving and investing, including original content, interactive tools and games, partner resources and frequently asked questions that can be accessed from anywhere in the world.
Public service announcements that direct military personnel and their families to the tools and resources available at SaveAndInvest.org are currently airing on the American Forces Radio and Television Service and in general market media in areas of the country with large military audiences.
The NASD Investor Education Foundation, established in 2003, supports innovative research and educational projects that give investors the tools they need to better understand the markets and the basic principles of financial planning. The Foundation has awarded more than $4.5 million in total to organizations for educational programs and research projects targeting the underserved segments of the population. For details about grant programs and other new initiatives of the Foundation, visit www.nasdfoundation.org.
NASD is the leading private sector provider of financial regulatory services, dedicated to investor protection and market integrity through effective and efficient regulation and complementary compliance and technology-based services. More than 5,100 brokerage firms, roughly 116,000 branch offices and more than 650,000 registered securities representatives come under NASD's jurisdiction. NASD touches virtually every aspect of the securities business-from registering and educating all industry participants, to examining securities firms, enforcing both NASD rules and the federal securities laws and administering the largest dispute resolution forum for investors and securities firms. For more information, please visit our Web site at www.nasd.com.