LMI Support for Service Members, Veterans, and Spouses Through Financial Education
GoVA Foundation provides CRA-qualified military financial education programs across Ohio’s military installations and Veteran communities. Through our initiatives, banks can connect with service members, Veterans, and military families seeking banking services and financial education resources through Community Development grants and CRA programs.
Ohio’s strategic military presence centers on Wright-Patterson Air Force Base, spanning Greene and Montgomery Counties and supporting 6,274 active-duty service members. This installation creates significant opportunities for military banking partnerships and financial education programs through CRA assessment areas.
Approximately 40% of active-duty military households qualify as low-to-moderate income (LMI), representing 2,509 service members who can benefit from targeted military banking services and financial education. Additionally, the state hosts an estimated 3,137 military spouses, calculated as 50% of the active-duty population. Military spouses face persistent employment barriers including frequent relocations, licensing challenges across state lines, and limited career opportunities near military installations. With an unemployment rate three times the national average and 32% underemployment rate, military spouse income challenges often qualify dual-income military households for LMI status even at higher pay grades.
The combined military community in Ohio represents a significant demographic presence:
This total military-connected population of 690,517 Ohioans represents a substantial opportunity for banks to expand their services while meeting CRA obligations. The concentration of these communities near military installations creates natural assessment areas where banks can make meaningful impact through targeted financial education and services.
Within Ohio’s Veteran population of over 681,000, approximately 67,956 Veterans qualify as LMI households. The highest concentrations of Veterans are found in:
These population centers create distinct opportunities for bank partnerships in these assessment areas through CRA-qualified programs and community development grants.
GoVA Foundation currently has verified-LMI members ready to sponsor in these counties. Complete the form at the bottom of the page for more details.
GoVA Foundation’s military financial education programs meet FDIC and OCC requirements for CRA compliance while serving Ohio’s military community. Our military banking initiatives satisfy key CRA requirements through:
2. Military Community Development Activities:
The Edge platform, GoVA Foundation’s digital military financial education hub, provides personalized financial resources to service members, Veterans, and military families through CRA-qualified community development grants from bank sponsors. The platform currently serves over 100 active members across Ohio, with 30% verified as LMI households. Our highest membership concentrations align with major military populations in:
Military community members receive targeted financial education addressing:
Banks operating in Ohio can leverage our established military CRA grant programs to meet CRA goals while making meaningful impact in military communities. GoVA Foundation partners with banks, who provide community development grants to sponsor financial literacy among the LMI military community. We provide complete documentation for CRA reporting, including:
Discover immediate opportunities to support LMI military households in your assessment area through our CRA-qualified programs. Our custom reports provide detailed analysis of military demographics, LMI verification, and potential Community Development grant impact through financial education programs.
Discover the impact potential for your bank’s Community Development initiatives. Our customized report reveals:
Simply share your assessment area, and we’ll prepare a custom report showing how your bank can support military financial wellness while meeting CRA objectives.
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GoVA Foundation is a 501(c)3 non-profit organization, EIN: 93-4855398
The appearance of U.S. Department of Defense visual information does not imply or constitute DOD endorsement.
At GoVA, we’re proud to partner with a lender that delivers peace of mind to those who have served and continue to serve our county. Together, GoVA and TowneBank Mortgage are committed to helping our military service members achieve their dreams of homeownership, as well as providing them with valuable resources along the way. As experienced lenders, TowneBank Mortgage understands the need for a quick and easy mortgage process, especially during life’s transitional moments. Headquartered in Norfolk, just miles from the world’s largest naval base, TowneBank Mortgage has had the honor of helping thousands of military families through their VA loan offerings. Their team is knowledgeable about VA products and the local market, and in-house operations allow them to respond to questions and concerns in a timely manner. Together, we can get you to closing in 30 days or less. Trust TowneBank Mortgage and GoVA loans to get you home.
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