Virginia CRA Programs: Community Development for the Military

LMI Support for Service Members, Veterans, and Spouses Through Financial Education

GoVA Foundation provides CRA-qualified military financial education programs across Virginia’s extensive network of military bases and Veteran communities. From Northern Virginia to Hampton Roads, our initiatives connect financial institutions with service members, Veterans, and military families seeking banking services and financial education resources.

Virginia Military Bases & Service Member Population

Virginia’s strategic military presence includes ten major military bases supporting over 244,000 active-duty service members and their families. These military installations create significant opportunities for military banking partnerships and financial education programs:

Fort Belvoir (Fairfax County) – 111,000 active duty
Naval Station Norfolk (Norfolk) – 47,368 active duty
Fort Gregg-Adams (Prince George County) – 29,000 active duty
Joint Base Langley-Eustis (Newport News) – 15,000 active duty
Joint Expeditionary Base Little Creek-Fort Story (Virginia Beach) – 14,170 active duty
Naval Air Station Oceana (Virginia Beach) – 10,500 active duty
Joint Base Myer-Henderson Hall (Arlington) – 9,800 active duty
Marine Corps Base Quantico (Prince William County) – 6,173 active duty
Naval Support Activity Hampton Roads (Norfolk) – 825 active duty
Naval Support Activity South Potomac (Dahlgren) – 400 active duty

Among Virginia’s military population, approximately 40% qualify as low-to-moderate income (LMI) households, representing 97,694 service members who can benefit from targeted military banking services and financial education. The state’s military community also includes 122,118 military spouses, many facing employment challenges that affect household financial stability.

Military Financial Education Impact & Assessment Areas

The Edge platform, GoVA Foundation’s digital military financial education hub, delivers customized financial resources to service members, veterans, and military families across Virginia. Developed through military banking partnerships and funded by CRA-qualified community development grants, The Edge provides free financial education specifically designed for military life challenges.

Virginia’s total military-connected population includes:

244,236 active-duty service members
122,118 military spouses
684,043 Veterans

This combined military community of 1,050,397 Virginians presents significant opportunities for banks to expand military banking services while fulfilling CRA requirements through assessment areas near military installations.

Supporting Virginia Veterans Through Community Development

Within Virginia’s Veteran population, approximately 136,808 veterans qualify for LMI military banking services. The highest concentrations of Veterans seeking financial services are located in:

Fairfax County – 71,974 Veterans
Virginia Beach (City) – 61,970 Veterans
Prince William County – 39,881 Veterans
Norfolk (City) – 31,637 Veterans
Chesapeake (City) – 27,905 Veterans
Chesterfield County – 24,448 Veterans
Newport News (City) – 23,901 Veterans
Loudoun County – 22,080 Veterans
Hampton (City) – 20,765 Veterans
Stafford County – 18,533 Veterans

These population centers create strategic military banking assessment areas for CRA activities and financial education programs.

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.

Military CRA Compliance & Banking Partnerships

GoVA Foundation’s military financial education programs meet FDIC and OCC requirements for CRA compliance while serving Virginia’s military community. Our military banking initiatives satisfy key CRA requirements through:

Geographic Assessment Area Qualification:

Verified LMI census tracts
Documented military banking service areas
Military assessment area mapping

2. Military Community Development Activities:

Military-specific financial education programs
Veteran transition banking services
Military entrepreneur development
VA home loan education

Financial Education Impact in Virginia Military Communities

The Edge currently serves over 160 active military and Veteran members across Virginia, with 16% verified as LMI households. Our military banking education programs show highest engagement in:

Virginia Beach
Prince William County
Chesterfield County
Chesapeake
Stafford County

Military community members receive targeted financial education covering:

Military transition financial planning
Military spouse financial resources
VA home loan guidance
Veteran business development
Military credit building programs
Military retirement planning
Emergency savings strategies
PCS financial preparation

Military Community Development Partnership Opportunities in Virginia

Financial institutions operating in Virginia can leverage our established military banking programs to meet CRA goals. Discover immediate opportunities to support military LMI households in your assessment area.

We provide comprehensive documentation including:

Military LMI verification
LMI community impact metrics
Quarterly grant program reports
Annual community impact assessments

Request a custom military assessment area report analyzing local military demographics, LMI verification, and potential Community Development impact through financial education programs.

Explore CRA Opportunities

Discover the impact potential for your bank’s Community Development initiatives. Our customized report reveals:

Number of military households in your assessment area
Financial education needs assessment
Specific opportunities for LMI community investment

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.