News Release
May 19, 2008    Contact: Heidi Audette
360-725-2154 heidia@dva.wa.gov

WASHINGTON VETERANS and Their Families IN NEED
to be helped by:
VETERANS FAMILY FUND CERTIFICATE OF DEPOSIT

Grassroots Organization Gives Businesses, Organizations and Individuals Innovative Way to Invest,
Respond to Growing Community Challenge.

Spokane, Wash.—Veterans Family Fund of America, a grassroots organization responding to the unmet needs of veterans and
their families, will introduce the Veterans Family Fund Certificate of Deposit in Spokane County at a public event at 1:00 pm on
May 22 at Greater Spokane Incorporated at 801 W. Riverside, Suite 100 in Spokane.
Veterans Family Fund provides a way for anyone to help servicemen and women in Washington state by purchasing an insured
six-month CD that directs half of its earned interest to benefit veterans and their families. Investors receive the other half of the
interest and a tax deduction for their contribution.
The Spokane County Banks and Credit Unions participating in the May 22 event include: Banner Bank, Global Credit Union, Inland
Northwest Bank, and Washington State Employees Credit Union.
“While our country is divided over the conflicts in Iraq and Afghanistan, we are united in our support of those who serve,” said
Jane Jacobsen, executive director of the Confluence Project and co-founder of Veterans Family Fund of America. “Veterans
Family Fund gives each of us the chance to make a difference in helping veterans and their families face overwhelming
challenges here at home.”
Veterans Family Fund is an independent nongovernmental organization created by local citizens to help all Washington state
veterans, particularly those who have served in the current conflicts in Afghanistan and Iraq, and their families. While the
benefits the federal government provides for veterans are among the best in the world, the current level of demand is
unprecedented.
“In Iraq, 16 soldiers are injured for every one killed, a ratio more than five times higher than in Korea and Vietnam,” said John
Lee, director, Washington State Department of Veterans Affairs and board member of the Veterans Family Fund. “Many return
home catastrophically disabled, needing lifelong care and unable to resume their normal lives. Others leave behind families
struggling with the financial consequences of the loss or injury of their loved one. Veterans Family Fund aims to help close the
gap between what the federal or state government can provide and what our veterans and their families need,” he said.  
Veterans Family Fund has selected the Washington State Department of Veterans Affairs (WDVA) to identify veterans and
families in need. The WDVA’s Veterans Innovations Program will disburse funds based on the recommendations of the WDVA.
All veterans of U.S. military services residing in Washington state and their families are eligible for support.
A minimum investment of $100 is required to open a Veterans Family Fund CD. There is no maximum.
“The Veterans Family Fund CD takes a simple approach to a difficult problem that we all have a responsibility to address,” said
Michael Worthy, CEO of Bank of Clark County and co-founder of Veterans Family Fund of America. “Collectively, we can make an
enormous impact. If the program draws $300 million in deposits at today’s interest rates, it would generate $6 million annually
for Washington veterans and their families,” he said.
Veterans and their families will receive nearly 100 percent of donated funds. Participating financial institutions and public and
private grants will underwrite the program’s administrative costs.
“The response from financial institutions, businesses, community organizations and people around the state has been
overwhelmingly supportive,” said Jacobsen. “Everyone is ready to do their part to help those who have selflessly served our
country.”
Veterans Family Fund of America is led by a steering committee of business, governmental and community leaders.  Jane
Jacobsen of the VFFA steering committee will be joined by First Gentleman Mike Gregoire, WDVA Director John Lee, and
members of the local community at the Spokane County introduction of the Veterans Family Fund CD.  

Colleen Gilbert, Community and Public Relations
Washington State Department of Veterans Affairs
PO Box 41150
Olympia WA  98504-1150
360-725-2180
www.dva.wa.gov
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