RICHMOND — The State Corporation Commission (SCC) encourages military members and their families to take control of their financial future and avoid potential investing landmines during Military Saves Week February 19-26, 2012.

“Readiness is crucial when it comes to keeping our service members, their families, and their personal finances out of harm’s way,” said Ron Thomas, director of the SCC’s Division of Securities and Retail Franchising. He cautions military families to be on guard against fraudulent offers from persons who claim to have ties to the military community. “Virginia’s securities regulators stand ready to help the men and women who serve our country protect their hard-earned dollars,” he said.

Thomas urges all investors to carefully research any investment opportunity and the person and company offering it. Obtain written information that fully explains the investment before you hand over your money. Understand the investment product being offered and make sure it meets your personal investment goals. “Contact the SCC’s Securities Division before you invest to find out if both the investment and the person recommending it are properly registered in Virginia,” he said.

The Securities Division offers a variety of resources that can help military families learn how to protect their financial well-being and make informed investing decisions. In addition to specially-trained staff who can assist service members with their questions and complaints, the division offers outreach programs to the military and other groups, as well as numerous consumer publications, investor alerts, and interactive online quizzes and calculators. It supplies investor education publications on an ongoing basis to a number of military installations throughout Virginia. Since 2010, the division also has been conducting Investor University on Base at military bases statewide. This program consists of several sessions covering such topics as setting financial goals, developing a budget, weighing risk and return, comparing various types of investments, planning for retirement, and avoiding investment fraud.

For more information, contact the SCC’s Securities Division in Richmond at (804) 371-9051 or toll-free (in Virginia) at 1-800-552-7945. You may also visit the division’s website at www.scc.virginia.gov/srf or visit the North American Securities Administrators Association’s website at www.nasaa.org.

The Military Saves Campaign is a year-long effort that provides financial education to active duty service members, as well as National Guard and Reserve. It is designed to provide our service members and their families with information about reducing debt, saving money, and avoiding investment fraud. For more information on this campaign, visit www.militarysaves.org.

Military Saves Week, part of the larger nationwide America Saves campaign, is a national public awareness effort led by the Consumer Federation of America to motivate people to start saving for their financial future. To learn more about America Saves Week, visit www.americasaves.org.

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