USAA Educational Foundation gifts $500,000 to Texas A&M Foundation to support military financial readiness.
A Department of Agricultural Economics endowed professorship will focus on financial skills for future military leaders.
The Texas A&M Foundation has received a gift of $500,000 from the USAA Educational Foundation, to endow an academic professorship and support other efforts to help enhance financial skills of Texas A&M University students on the path to becoming military officers.
Residing in the Texas A&M College of Agriculture and Life Sciences Department of Agricultural Economics, the professorship will empower current members of the Texas A&M Corps of Cadets with the ability to understand basic financial concepts and military financial programs. This will allow them to better lead their subordinates while serving in military leadership positions.
A continuing collaboration on financial readiness
“The Texas A&M culture and support of military service made our initial partnership in 2016 a natural, purpose-driven fit,” said Ameesh Vakharia, chairman of the USAA Educational Foundation board of governors. “Formalizing our program through this endowment is a commitment of both organizations’ long-standing mission to serve the military community.”
Jennifer Ann Scasta, Ph.D., assistant vice president for development for the Texas A&M Foundation said the Texas A&M Foundation continues to drive partnerships that best serve the mission of the university.
“This opportunity to grow our partnership with one of the leading military nonprofits in a sustainable and impactful program solidifies this already strong relationship,” she said.
The importance of military financial readiness
Nathan Harness, Ph.D., director of the Financial Planning Program within the Department of Agricultural Economics, said military financial readiness efforts will help future military leaders avoid financial difficulties, stress and distractions often associated with money management challenges. He said the partnership will continue to allow these future leaders to successfully navigate not only their own finances, but also share vital money management knowledge and skills with others.
As a result of the ongoing collaboration between the USAA Educational Foundation and Texas A&M, a Command Your Finances course has been offered since 2017. This course, which uses a novel learn-act-lead model, seeks to set the standard for military financial readiness in educational institutions across the country.
What the partnership means
Jeffrey W. Savell, Ph.D., vice chancellor and dean of Agriculture and Life Sciences, said this endowed professorship is an impactful stride toward cultivating more financially savvy leaders in the military community.
“This partnership will greatly benefit our students and contribute to enhancing financial literacy and preparedness nationwide,” Savell said. “We are incredibly thankful of the support of the USAA Educational Foundation, and we look forward to a brighter future for our military personnel because of it.”
About the Texas A&M Corps of Cadets
The Corps of Cadets provides students with hands-on leadership experience within a world-class educational environment. It gives them the opportunity to learn, practice and develop critical leadership skills that will serve them during their military career and the rest of their lives.
“Part of that leadership education is financial literacy and management — preparing our students to successfully navigate the financial challenges they could encounter in their careers,” said Meredith Simpson, chief of staff in the Office of the Commandant. “The partnership between the USAA Educational Foundation and Texas A&M plays a key role in that education by instilling a greater confidence in cadets when it comes to navigating financial situations.”
About the USAA Educational Foundation
Since 1986, The USAA Educational Foundation, headquartered in San Antonio, has served the military community by helping service members and their families become informed financial decision-makers through every life stage. The free, simple-to-navigate financial education available on their website, is tailored for the military community, enabling service members and their families to understand essential financial concepts through a library of educational videos, interactive calculators, and downloadable worksheets.
