Dayton Warfle graduated from the United States Naval Academy with an engineering degree and was deployed to Japan, Korea and the Philippines as a naval flight officer. He then returned to pilot training, flying aircraft carrier operations in Europe, Libya and the western Mediterranean. After 23 years of dedicated service, he retired from the military and joined Bank of America.
Today he is putting his military training to good use as an operational risk executive, charged with helping the bank manage its risks. But his other calling — as head of Bank of America’s Military Support and Assistance Group — is working with veterans and employees in the military. Warfle recently got involved as a financial coach for the first Wounded Warrior Project (WWP) Economic Empowerment session held in Jacksonville, Fla. WWP, founded in 2003, serves more than 25,000 wounded warriors and caregivers. The goal of the nonprofit is to help service members make the transition back into civilian life.
With support from Bank of America, WWP developed a financial workshop, delivered by volunteers from the bank, designed to assist wounded warriors and their families. It covers topics ranging from Traumatic Servicemembers Group Life Insurance to preparing a tax return and creating a monthly budget. Military members are also eligible for one-on-one financial coaching. “It was a valuable effort for the veterans and their families,” Warfle said at the end of the first workshop, “This was especially true when we talked with the participants about the financial stresses of the holiday season. I also think the discussions on debt and credit cards, along with APR fees and credit scores, helped ease their anxiety and gave them the tools they needed to plan ahead.”
Says Lewis Runnion, one of the directors of the Military Affairs Advisory Group: “A service member who has returned from active duty with an injury has very specific financial considerations, from filing for their government insurance payments to managing their finances for the long haul. The program, including the one-on-one coaching, is focused on addressing their needs very directly. ”
The Wounded Warrior financial education workshop program will be held in additional locations in 2013.
Some of the featured participants are not employees of U.S. Trust. The opinions and conclusions expressed are not necessarily those of U.S. Trust or its personnel.