Washington Trust Joins Veterans Benefits Banking Program
The Washington Trust Company has officially joined the Veterans Benefits Banking Program, a collaborative initiative between the U.S. Department of Veterans Affairs and the Association of Military Banks of America. This program is designed to provide veterans, caregivers, and survivors with secure, reliable access to banking services, specifically facilitating the direct deposit of VA monetary benefits to reduce fraud risks associated with paper checks. As one of only two community banks in Rhode Island participating in this program, Washington Trust will offer its 'Simply Free Checking' account to meet the program's low-cost requirement. The partnership aims to provide veterans with localized financial guidance and access to specialized resources, including VA loan programs and financial counseling services.
Topics: Banking Services Community Banking Financial Inclusion Veterans Benefits Banking Program