OneMain Financial has announced a commitment of $50 million to support minority depository institutions (MDIs) and military veterans.

The commitment is to be managed through two J.P. Morgan Asset Management programs. The first $25 million, deposited in the Empower money market share class, will benefit two MDIs that provide financial services in underserved communities: Sunstate Bank in Florida and First Independence Bank in Michigan. The remaining $25 million, deposited in the Academy money market share class—a partnership with Academy Securities, a disabled veteran-owned and -operated investment bank—to support job training, placement, and transition services for veterans.

“OneMain is focused on aligning our cash management strategy with our mission to improve the financial well-being of hardworking Americans, particularly those in underserved communities,” said OneMain chair and CEO of Doug Shulman. “Our recent commitments in support of minority depository institutions and military veterans are designed to help communities become more financially secure and build stronger economic futures.”

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