#United States #Financial Services #Washington Trust #Westerly #Veterans Benefits

Washington Trust Joins Veterans Benefits Banking Program

In a significant move aimed at supporting U.S. veterans, the Washington Trust Company has officially joined the Veterans Benefits Banking Program. This initiative is a collaborative effort between the U.S. Department of Veterans Affairs and the Association of Military Banks of America. The program aims to provide veterans, beneficiaries, caregivers, and survivors with safer and more reliable access to banking services.

The Veterans Benefits Banking Program serves as a crucial link connecting eligible recipients of VA monetary benefits directly with trustworthy financial institutions. By facilitating secure options for managing benefits through direct deposit, the program helps veterans avoid the risks associated with paper checks and unsecured prepaid cards. Moreover, it offers valuable financial education resources and free financial counseling to help veterans navigate their financial journeys.

Washington Trust is proud to be one of only two community banks in Rhode Island participating in this program. This affiliation empowers veterans and their families with access to local banking resources and personalized financial guidance, right in their communities. According to Ned Handy, Chairman and CEO of Washington Trust, “The veterans who have served our country deserve access to affordable banking services and a safe way to receive their benefits. We’re proud to join the Veterans Benefits Banking Program and be part of the effort to help more veterans build a strong financial future.”

A key aspect of participation in this program is ensuring the presence of a low- or no-cost checking account option. Washington Trust’s offering, the Simply Free Checking account, fulfills this requirement, highlighting the bank's commitment to affordability. In addition to offering deposit services, Washington Trust provides various financial wellness resources, VA loan programs, and a comprehensive array of personal banking services tailored to the needs of veterans and their families.

The creation of the Veterans Benefits Banking Program responds to the urgent need for veterans to avoid financial fraud while accessing essential banking services. By partnering with participating financial institutions, the program ensures that veterans can safely and securely receive their benefits, thereby contributing to their financial well-being. With this initiative, veterans are encouraged to use direct deposit – a method that significantly reduces the risks associated with traditional paper-based banking.

Do you want to learn more about the resources available? Visit Washington Trust's dedicated page for veterans, called Better Banking for Veterans, to discover how you can benefit from this initiative.

About Washington Trust Company

Founded in 1800, the Washington Trust Company is recognized as the oldest community bank in the United States. It holds the distinction of being the largest state-chartered bank headquartered in Rhode Island and is celebrated as one of New England's foremost financial service providers. The bank marked a significant milestone in 2025, celebrating 225 years of dedicated service in enhancing the financial lives of individuals, businesses, and organizations throughout New England.

Washington Trust offers a diverse selection of financial services, including commercial banking, mortgage banking, personal banking, and wealth management solutions, all conveniently accessible through physical branches in Rhode Island, Connecticut, and Massachusetts. The bank is also committed to incorporating modern digital tools to elevate the banking experience.

A member of the FDIC and an equal housing lender, Washington Trust remains committed to its core mission of serving communities while providing innovations in financial services. As a subsidiary of Washington Trust Bancorp, Inc., the bank is publicly traded under the NASDAQ symbol WASH. For more information, interested individuals can visit their official website or the dedicated investor relations page.