LMI Support for Service Members, Veterans, and Spouses Through Financial Education
GoVA Foundation provides verified CRA community development programs serving military communities across South Carolina. Our initiatives connect financial institutions with LMI service members through documented Community Development activities eligible for CRA consideration.
South Carolina’s military community development opportunities span four major installations supporting 23,823 active-duty service members, with verified LMI populations creating distinct CRA assessment areas:
Major military locations and CRA assessment areas include:
Within the active-duty population, 9,529 verified LMI service members qualify for CRA community development programs. The military community includes 11,911 military spouses who significantly impact household LMI status verification. 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.
South Carolina’s CRA-eligible military community includes:
This verified military population of 421,974 South Carolinians presents substantial Community Development grant opportunities through documented LMI programs.
The state’s verified LMI Veteran population of 50,560 concentrates in key assessment areas:
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 South Carolina’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, is made available free of charge to LMI military community members through Community Development grant funding from bank sponsors.
Our CRA-qualified Edge platform serves over 120 active members across South Carolina, including 17% verified LMI households. Highest community development engagement in:
Military community members receive targeted financial education addressing:
Banks operating in South Carolina can leverage our established military CRA grant programs to meet CRA goals while making meaningful impact in military communities. We partner 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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