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Helping veterans take control of their finances

Veteran's Finance
Veteran's Finance
Veteran's Finance
Posted at 4:05 PM, Jun 18, 2024

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 putting them back on their feet.

Veterans spread throughout the classroom at The Baltimore Station. Eager and ready to learn about getting their finances in line.

The Baltimore Station is a residential treatment program for homeless veterans recovering from substance abuse.

In a partnership with M&T Bank, veterans are educated on money management as they transition to a stable future.

"We're older men, we might have started out great and then took a little detour but now it's time to get back on and hopefully progress,” said Allen Young, who is an Army veteran.

Young served in the Army. Struggling with homelessness, he's working with The Baltimore Station to get back on his feet. Taking these kinds of classes is directing him in the right path. A way to recharge, he said he's learned a lot so far.

"A way to be a little more financially organized of what's coming in and what's going out as far as keeping up with my debt and not being delinquent on payments,” said Young.

M&T Bank has been in this partnership for almost 20 years. Each month teaching a new perspective of financial literacy to the veterans.

"There are many steps you can take to start building that credit,” said Natalie Arteen, Community Events Coordinator for M&T Bank.

Arteen teaches the class and said many veterans return ready to learn the next steps.

"Each class is definitely focused on different areas. There is budgeting, there is banking basics, there’s the credit scores and reporting. We also talk about mortgage. I come in with a specialist every time and make sure I have the right people in place,” said Arteen.

"We really have seen the 'aha' moment with men when things click" said Kim Callari, Executive Director of The Baltimore Station.

Callari said all programs tie back to recovery. From the moment the men enter the program, they start working on the financial skills. Whether it's something as simple as setting up a checking account to learning how to pay rent.

"I see these men when they come in off the street broken, struggling and then I get to watch them flourish here at the station and then to see how they actually are when they graduate. It’s an incredible change and metamorphosis for sure," said Callari.

M&T also sets up one on one session and connects them with counselors that might be needed for more in depth services.

Callari said a veteran can get into the program within 24 hours. For more information, click here.