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New York Army National Guard Activates a Finance Battalion

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New York Army National Guard Activates a Finance Battalion


WHITESTONE ARMORY, QUEENS, New York — The New York Army National Guard’s 27th Financial Management Support Unit became the 27th Finance Battalion during a Dec. 16, 2023, ceremony held at the Whitestone Armory in the New York City borough of Queens.

For many years, the 27th Financial Management Support Unit operated like a battalion and was federally ordered to transition into a finance battalion on October 1st, 2023, as part of the US Army’s force structure changes.

Lt. Col. Sara Mitchell, the incoming commander of the battalion, uncased the new colors with her senior enlisted advisor Command Sgt. Maj. Alfonso Villacres.

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As battalion commander, Mitchell said that she expects the companies to continue supporting stateside and overseas missions with a high operational tempo, so a main goal is to retain Soldiers and ensure they are properly trained while paying close attention to human resource and time challenges to prevent burnout.

Mitchell explained that prior to 17 years ago, their organization was a battalion and although it became a unit, the mission never really changed.

“Going back to being a battalion is the right structure for our type of unit and will, hopefully, allow us to grow and perform even better,” she said.

Activation changes included the reorganizing detachments into companies and the standing up of a headquarters and headquarters detachment (HHD), adding several new positions to the organization.

The battalion manages five units in total – The 4th, 7th, 14th, and 37th Finance Companies, and HHD 27th. Currently, there are 194 Soldiers in the battalion.

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On deployment, the finance battalion and its companies manage funds directly but stateside is responsible for all federal funds and property provided to the National Guard.

The 4th Finance Company is currently deployed in support of Operation Inherent Resolve and led by Capt. Matthew Lenzi and Sgt. 1st Class Vuthy In.

Stateside, the organization regularly supports domestic operations and emergency response to natural disasters, including hurricanes Irene and Sandy, as well as the COVID-19 pandemic, when called upon.

Maj. Miguel Rodriguez, the outgoing commander of the 27th FMSU, earned a meritorious service medal presented by Col. Patrick Clare, 369th Sustainment Brigade commander.

The unit transitioned to HHD with Capt. Schashuna Whyte and Sgt. 1st Class Byron Acuria as the new command team.

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Whyte said that the headquarters’ role is unique. They support three battalions within the 369th Sustainment Brigade and all subordinate companies within those battalions.

“It’s a big role to fill and the team is capable of fulfilling it,” she said.

As former executive officer of the 27th FMSU, Whyte saw firsthand how the commander functions.

“This role provided the opportunity to see the big picture of the battalion’s operations, and prepared me for command within the HHD,” Whyte said.

Whyte said that she was looking forward to working more closely with the USP&FO Comptroller’s Office to support the joint mission of readiness in terms of pay and entitlements for the Soldiers of New York state.

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USP&FO stands for United States Property and Fiscal Office of New York and is responsible for financial management, property accountability, federal contracting and internal review.

Additionally, they submit periodic reports concerning the use of these funds and equipment to the Secretary of the Army and Secretary of the Air Force.

The newly uncased battalion’s colors feature a spread eagle embedded with the finance crest, which has silver gray and golden yellow piping with a motto signifying the zeal of the battalion in pursuit of their mission, ‘FINANCE THE FIGHT.’

These colors have long been associated with the Finance Corps and are universal symbols of treasury and money matters.

The U.S. Army’s Finance Corps was born two days after the Continental Army began when the position of Army Paymaster General was established on June 16, 1775. Since then, the Army’s Finance Corps has been integral to winning our nation’s wars, funding, and sustaining the fight around the globe.

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Mitchell, who previously served as the 42nd Infantry Division’s finance staff officer said that her previous assignment was a needed break from command and allowed her to get back into the rhythm of staff work. She once served as commander of the 27th FMSU.

The headquarters deployed as a battalion to Kuwait, in 2008, in support of Operation Iraqi Freedom. In 2013 they deployed again in support of Operation Enduring Freedom recognized as a company, and in 2019 to Afghanistan in support of Operation Freedom’s Sentinel, recognized as a unit.

Capt. Daniel Jacobson and 1st Sgt. Daniel London lead the 7th Finance Company.

Capt. Jason Kim and 1st Sgt. Kenneth Geib lead the 14th Finance Company.

Capt. Sea Na and 1st Sgt. Orin Gall lead the 37th Finance Company.

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Completion of all US Army Finance Corps reorganization efforts are expected by the end of Fiscal Year 2025.

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Date Taken: 12.16.2023
Date Posted: 01.31.2024 04:49
Story ID: 462788
Location: NEW YORK, NY, US
Hometown: WHITESTONE/QUEENS/NEW YORK, NY, US

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Finance

Where in California are people feeling the most financial distress?

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Where in California are people feeling the most financial distress?

Inland California’s relative affordability cannot always relieve financial stress.

My spreadsheet reviewed a WalletHub ranking of financial distress for the residents of 100 U.S. cities, including 17 in California. The analysis compared local credit scores, late bill payments, bankruptcy filings and online searches for debt or loans to quantify where individuals had the largest money challenges.

When California cities were divided into three geographic regions – Southern California, the Bay Area, and anything inland – the most challenges were often found far from the coast.

The average national ranking of the six inland cities was 39th worst for distress, the most troubled grade among the state’s slices.

Bakersfield received the inland region’s worst score, ranking No. 24 highest nationally for financial distress. That was followed by Sacramento (30th), San Bernardino (39th), Stockton (43rd), Fresno (45th), and Riverside (52nd).

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Southern California’s seven cities overall fared better, with an average national ranking of 56th largest financial problems.

However, Los Angeles had the state’s ugliest grade, ranking fifth-worst nationally for monetary distress. Then came San Diego at 22nd-worst, then Long Beach (48th), Irvine (70th), Anaheim (71st), Santa Ana (85th), and Chula Vista (89th).

Monetary challenges were limited in the Bay Area. Its four cities average rank was 69th worst nationally.

San Jose had the region’s most distressed finances, with a No. 50 worst ranking. That was followed by Oakland (69th), San Francisco (72nd), and Fremont (83rd).

The results remind us that inland California’s affordability – it’s home to the state’s cheapest housing, for example – doesn’t fully compensate for wages that typically decline the farther one works from the Pacific Ocean.

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A peek inside the scorecard’s grades shows where trouble exists within California.

Credit scores were the lowest inland, with little difference elsewhere. Late payments were also more common inland. Tardy bills were most difficult to find in Northern California.

Bankruptcy problems also were bubbling inland, but grew the slowest in Southern California. And worrisome online searches were more frequent inland, while varying only slightly closer to the Pacific.

Note: Across the state’s 17 cities in the study, the No. 53 average rank is a middle-of-the-pack grade on the 100-city national scale for monetary woes.

Jonathan Lansner is the business columnist for the Southern California News Group. He can be reached at jlansner@scng.com

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Why Chime Financial Stock Surged Nearly 14% Higher Today | The Motley Fool

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Why Chime Financial Stock Surged Nearly 14% Higher Today | The Motley Fool

The up-and-coming fintech scored a pair of fourth-quarter beats.

Diversified fintech Chime Financial (CHYM +12.88%) was playing a satisfying tune to investors on Thursday. The company’s stock flew almost 14% higher that trading session, thanks mostly to a fourth quarter that featured notably higher-than-expected revenue guidance.

Sweet music

Chime published its fourth-quarter and full-year 2025 results just after market close on Wednesday. For the former period, the company’s revenue was $596 million, bettering the same quarter of 2024 by 25%. The company’s strongest revenue stream, payments, rose 17% to $396 million. Its take from platform-related activity rose more precipitously, advancing 47% to $200 million.

Image source: Getty Images.

Meanwhile, Chime’s net loss under generally accepted accounting principles (GAAP) more than doubled. It was $45 million, or $0.12 per share, compared with a fourth-quarter 2024 deficit of $19.6 million.

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On average, analysts tracking the stock were modeling revenue below $578 million and a deeper bottom-line loss of $0.20 per share.

In its earnings release, Chime pointed to the take-up of its Chime Card as a particular catalyst for growth. Regarding the product, the company said, “Among new member cohorts, over half are adopting Chime Card, and those members are putting over 70% of their Chime spend on the product, which earns materially higher take rates compared to debit.”

Chime Financial Stock Quote

Today’s Change

(12.88%) $2.72

Current Price

$23.83

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Double-digit growth expected

Chime management proffered revenue and non-GAAP (adjusted) earnings before interest, taxes, depreciation, and amortization (EBITDA) guidance for full-year 2026. The company expects to post a top line of $627 million to $637 million, which would represent at least 21% growth over the 2024 result. Adjusted EBITDA should be $380 million to $400 million. No net income forecasts were provided in the earnings release.

It isn’t easy to find a niche in the financial industry, which is crowded with companies offering every imaginable type of service to clients. Yet Chime seems to be achieving that, as the Chime Card is clearly a hit among the company’s target demographic of clientele underserved by mainstream banks. This growth stock is definitely worth considering as a buy.

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Finance

How young athletes are learning to manage money from name, image, likeness deals

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How young athletes are learning to manage money from name, image, likeness deals

ROCHESTER, N.Y. — Student athletes are now earning real money thanks to name, image, likeness deals — but with that opportunity comes the need for financial preparation.

Noah Collins Howard and Dayshawn Preston are two high school juniors with Division I offers on the table. Both are chasing their dreams on the field, and both are navigating something brand new off of it — their finances.

“When it comes to NIL, some people just want the money, and they just spend it immediately. Well, you’ve got to know how to take care of your money. And again, you need to know how to grow it because you don’t want to just spend it,” said Collins Howard.


What You Need To Know

  • High school athletes with Division I prospects are learning to manage NIL money before they even reach college
  • Glory2Glory Sports Agency and Advantage Federal Credit Union have partnered to give young athletes access to financial literacy tools and credit-building resources
  • Financial experts warn that starting money habits early is key to long-term stability for student athletes entering the NIL era


Preston said the experience has already been eye-opening.

“It’s very important. Especially my first time having my own card and bank account — so that’s super exciting,” Preston said.

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For many young athletes, the money comes before the knowledge. That’s where Glory2Glory Sports Agency in Rochester comes in — helping athletes prepare for life outside of sports.

“College sports is now pro sports. These kids are going from one extreme to the other financially, and it’s important for them to have the tools necessary to navigate that massive shift,” said Antoine Hyman, CEO of Glory2Glory Sports Agency.

Through their Students for Change program, athletes get access to student checking accounts, financial literacy courses and credit-building tools — all through a partnership with Advantage Federal Credit Union.

“It’s never too early to start. We have youth accounts, student checking accounts — they were all designed specifically for students and the youth,” said Diane Miller, VP of marketing and PR at Advantage Federal Credit Union.

The goal goes beyond what’s in their pocket today. It’s about building habits that will protect them for life.

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“If you don’t start young, you’re always catching up. The younger you start them, the better off they’re going to be on that financial path,” added Nihada Donohew, executive vice president of Advantage Federal Credit Union.

For these athletes, having the right support system makes all the difference.

“It’s really great to have a support system around you. Help you get local deals with the local shops,” Preston added.

Collins-Howard said the program has given him a broader perspective beyond just the game.

“It gives me a better understanding of how to take care of myself and prepare myself for the future of giving back to the community,” Collins-Howard said.

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“These high school kids need someone to legitimately advocate their skills, their character and help them pick the right space. Everything has changed now,” Hyman added.

NIL opened the door. Programs like this one make sure these athletes walk through it — with a plan.

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