Taking the First ‘STEP’ to Financial Independence

Welcome to the "Militarily Speaking" podcast with Tom McLean and Jodi Vickery. In this episode of “Militarily Speaking,” Tom and Jodi sit down with Tony Teravainen, CEO and co-founder of Support the Enlisted Project (STEP), to discuss the crucial work being done to assist young military families and transitioning veterans. Tony shares his extensive background and the journey of STEP since its inception in 2012, highlighting its mission to create financial wellness through counseling, education, and financial support.“Militarily Speaking” is a podcast produced by Armed Forces Bank that is dedicated to the military lifestyle and all the things that makes the military community who they are. Ep. 79 – Taking the First ‘STEP’ to Financial Independence Support the Enlisted Project (STEP) is a beacon of hope for military families across the United States. The organization was born out of the recognition that many existing services were merely helping military families survive rather than thrive. From its inception in 2012, STEP sought to fill this gap by focusing on financial wellness, using financial counseling as a tool to empower families to make their financial crises their last. Tony and his team emphasize behavioral change as the key to sustainable financial independence. Innovative Programs and Results At the heart of STEP's success is its robust Emergency Financial Assistance Program (EFA), which boasts a 90% effectiveness rate. This program goes beyond merely providing financial aid; it focuses on changing financial behaviors through intensive counseling, allowing families to turn their crises into pivotal moments of change. Each program is tailored specifically to the needs and histories of the families involved, ensuring personalized support that addresses unique challenges faced by military communities. Not only does STEP help families avoid evictions or maintain utilities, but it also restores hope and instills a sense of possibility for a better future. The focus is on teaching financial independence and resolving behavioral roadblocks to achieve healthier financial habits. Building a Supportive Community STEP's reach and effectiveness have been made possible by building a community of support from various. stakeholders. Through impressive partnerships with community organizations, corporations, and individual volunteers, STEP has been able to expand its programs and impact. Programs like the Back-to-School and holiday drives serve as entry points for community engagement, allowing STEP to connect with more military families and spread its message of empowerment and financial literacy The Impact of Leadership A defining feature of STEP's success is its dynamic leadership. Tony Teravainen shares insights into his strategic, process-oriented approach, intertwining it with his personal experiences as a child of a military family himself. His leadership style emphasizes facilitating his team's success, fostering a culture of respect and support that extends outward to the families STEP serves. This culture not only strengthens the organization internally but also builds trust externally, making families feel valued and supported. Future Plans and How to Help Looking ahead, STEP aims to expand nationally, scaling its services to address financial wellness challenges across the United States. Their Vision 2032 outlines this ambitious expansion, aiming to offer their unique services to more military communities, including those geographically isolated. Interested individuals and organizations can get involved in STEP's mission by visiting their website at teamstepusa.org. There, supporters can learn more about volunteer opportunities, donate, and help spread awareness of STEP's mission. Businesses and individuals alike are invited to explore ways to collaborate and lend their support to this impactful cause.  With a focus on behavioral change and financial education, STEP continues to lead the way in creating lasting solutions for families in financial crises. Through community involvement and strategic leadership, STEP is poised to make an even greater national impact, ensuring that military families receive the support they need to succeed and thrive long-term. Military MinuteJodi introduces the Military Minute segment of the show, beginning by closing out last episode’s Military Minute. ●     Last episode’s Military Minute: What is the average number of troops deployed at any given time?●     Answer: 150,000●     This week’s Military Minute question: o     Which musical group sings the song Step by Step? o      Which musical group sings the song Gimme Three Steps? o      Which musical artist sings the song One, Two, Step?●     Watch for Facebook and Instagram posts about this episode.●     Answer with the correct answer and you plus a charity of your choice can each win $50.●     After a winning selection, Military Minute participants are eligible for another selection after 12 months. Tom closes the episode by asking listeners to go to www.afbank.com and subscribe to the show, as well as leave a rating and comment on your favorite podcast platform such as Apple Podcasts or Spotify. Join us to hear how to better navigate your finances, military life, and the crossroads of the two. Visit www.afbank.com