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Helping Veterans Take Control of Their Finances
BALTIMORE — Helping veterans feel secure in their finances can have a huge impact on their mental health. The treatment program for homeless veterans, The Baltimore Station, is getting them back on their feet.
Veterans scattered around the classroom at the Baltimore station. Eager and ready to learn how to get your finances in order.
Baltimore Station is a residential treatment program for homeless veterans recovering from substance abuse.
In a partnership with M&T Bank, veterans receive money management training as they transition to a stable future.
“We’re older men, we may have started off really well and then took a little detour, but now it’s time to come back and hopefully progress,” said Allen Young, who is an Army veteran.
Young served in the Army. Struggling with homelessness, he is working with The Baltimore Station to recover. Taking this type of class is directing you on the right path. A way to recharge his energy, he said he has learned a lot so far.
“A way to be a little more organized financially in terms of what comes in and what goes out, in terms of keeping up with my debts and not defaulting on payments,” Young said.
M&T Bank has been in this partnership for almost 20 years. Each month teaching veterans a new perspective on financial literacy.
“There are many steps you can take to start building that credit,” said Natalie Arteen, Community Events Coordinator at M&T Bank.
Arteen teaches classes and said many veterans come back ready to learn the next steps.
“Each class is definitely focused on different areas. There’s budgeting, there’s banking basics, there’s credit scoring and reporting. We also talk about mortgages. I always come with an expert and make sure I have the right people in place,” said Arteen .
“We’ve really seen the ‘aha’ moment with men when things work out,” said Kim Callari, Executive Director of Baltimore Station.
Callari said all programs are linked to recovery. From the moment men enter the program, they begin working on financial skills. Whether it’s something as simple as opening a checking account or learning how to pay your rent.
“I see these men when they come off the street broken, struggling and then I get to see them blossom here at the station and then see what they really are like when they graduate. It’s an incredible change and metamorphosis, for sure,” said Callari.
M&T also hosts one-on-one sessions and connects them with counselors who may be needed for more in-depth services.
Callari said a veteran can join the program within 24 hours. For more informations, Click here.