Watch: Stressors for military households

The latest CUNA Economic Update takes a deep dive into the financial stressors military households experience, and how credit unions make a difference in their lives.

In this video, Mike Schenk, CUNA chief economist and deputy chief advocacy officer, cites several reasons many military families struggle:

• Age and lack of experience.
• Frequent relocations, which make it difficult to establish stable roots. This results in potential housing losses and associated costs.
• Deployments and separations, which can strain relationships and cause emotional stress, impacting financial decisions.

• Lower base pay for enlisted personnel and difficulties finding civilian employment for military spouses. This can lead to limited income sources.
• High health-care expenses, especially for injuries sustained during service.
• The transition to civilian life. This can be financially challenging, as veterans may struggle to adapt their skills to the job market.

Watch now:

This article is part of A Salute to Veterans, CUNA News' special focus on military veterans in the credit union movement, sponsored by FHLBanks. Search for the hashtag #SaluteToVeterans to follow the conversation on social media.