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OPNAVINST 1740.5A
(30 JAN 2002)
PERSONAL FINANCIAL MANAGEMENT EDUCATION, TRAINING, AND COUSELING PROGRAM
WHAT FINANCIAL ISSUES HAVE A DIRECT IMPACT ON READINESS AND RETENTION OF THE NAVY?
1)HIGH COST OF LIVING
2)PREVALENCE OF EASY CREDIT
3)HIGH PRESSURE SALES TACTICS
4)CLEVER AVERTISING TECHNICQUES
5)UNDISCIPLINED BUYING
6)CONSUMER RIP-OFFS
WHO HAS RESPONSIBILITY TO ENCOURAGE FINANCIAL RESPONSIBILITY AND SOUND FINANCIAL PLANNING?
COMMANDING OFFICER (C0)
WHAT 3 MAJOR ELEMENTS CREATE PERSONAL FINANCIAL MANAGEMENT (PFM)?
1)FINANCIAL EDUCATION AND TRAINING
2)FINANCIAL INFORMATION AND REFERRAL
3)FINANCIAL COUNSELING
THE THREE ELEMENTS OF THE PERSONAL FINANCIAL MANAGEMENT PROGRAM UNDER WHOSE CONTROL?
UNDER A TRAINED COMMAND FINANCIAL SPECIALIST (CFS)
WHAT IS THE RATIO OF COMMAND FINANCIAL SPECIALISTS (CFS)TO PERSONAL ATTACHED TO THE COMMAND?
1 CFS TO EVERY 75 ACTIVE DUTY MEMBERS INCLUDING THOSE ASSIGNED TAD, TAD UNDER INSTRUCTION, AND MEMBERS FROM OTHER SERVICES.
WHAT IS THE POLICY REGARDING PERSONAL FINANCIAL MANAGEMENT?
NAVY SHALL PROMOTE OPERATIONAL READINESS, PERSONAL RESPONSIBILITY, RELIABLILITY, AND MORAL, BY PROVIDING KNOWLEDGE, SKILLS AND ACOUNSELIGN TO ITS MEMBERS REGARDING SOUND PFM.
WHEN DOES EDUCATION AND TRAINING REGARDING FINANCIAL MANAGEMENT START?
RECRUIT TRAINING
WHAT IS THE PURPOSE OF INFORMATION AND REFERRALS?
TO RAISE AWARENESS, AND KEEP MEMBERS ADVISED OF THE LATEST CONCERNS AND ASSISTANCE AVAILIBLE.
WHO CAN COUNSEL A NAVY MEMBERS?
A QUALIFIED COMMAND FINANCIAL SPECIALIST (CFS) EXPERIENCING FINANCIAL DIFFICULTIES OR SEEKING INFORMATION ON PERSONAL FINANCIAL MANAGEMENT CONCERNS.
WHO IS REQUIRED TO BE FAMILIAR WITH PERSONAL FINANCIAL MANAGEMENT (PFM) PROGRAMS POLICIES, OBJECTIVES, AND ASSISTANCE RESOURCES?
ALL NAVY MEMBERS SHALL SUPPORT THEIR SHIPMATES BY SHARING THIS INFORMATION WITH THOSE WHO NEED IT.
WHAT PAYGRADE CAN BE APPOINTED COMMAND FINANCIAL SPECIALIST (CFS)?
MINIMUM PAYGRADE OF E6 FOR ENLISTED AND W2/01 FOR OFFICERS
WHAT IS THE MINIMUM LENGTH OF DUTY FOR A COMMAND FINANCIAL SPECIALIST (CFS)?
MUST HAVE AT LEAST ONE(1) REMAINING AT THE COMMAND AT TIME OF CFS COURSE COMPLETION.
HOW OFTEN MUST REFRESHER TRAINING BE COMPLETED FOR COMMAND FINANCIAL SPECIALISTS (CFS)?
AT LEAST EVERY THREE YEARS.
WHERE DO MEMBERS WITH SERIOUS FINANCIAL PROBLEMS GET REFERED TO?
FLEET AND FAMILY SUPPORT CENTER, NMCRS, FEDERAL CREDIT UNIONS, NON-PROFIT CONSOLIDATED CREDIT COUNSELING SERVICES.
HOW OFTEN DOES THE COMMAND FINANCIAL SPECIALIST (CFS) REPORT TO THE COMMANDING OFFICER?
REPORTS QUARTERLY REGARDING EDUCATIONAL AND COUSELING CONDUCTED. ALSO REPORTS QUARTERLY TO THE CFS REPORTING WEBSITE(SEE ENCLOSURE-1, 1740.5A)
WHO IS THE PROGRAM SPONSER OF PERSONAL FINANCIAL MANAGEMENT PROGRAM POLICY?
DEPUTY CHIEF OF NAVAL OPERATIONS (MANPOWER AND PERSONNEL)(DCNO (MP))(N1)
WHO SHALL IMPLEMENT AND COORDINATE THE PERSONAL FINANCIAL MANAGEMENT PROGRAM?
COMMANDER, NAVY PERONNEL COMMAND THROUGH ASSISTANC COMMANDER NAVY PERSONNEL COMMAND FOR PERSONAL READINESS AND COMMUNITY SUPPROT AS PROGRAM MANAGER.
UNIT COMMANDERS, COs, AND OICs SHALL APPOINT HOW MANY COMMAND FINANCIAL SPECIALISTS (CFS) FOR THEIR COMMAND?
MINIMUM OF ONE COMMAND MEMBER PER 75 ACTIVE DUTY MILIATRY PERSONNEL. (ENCLOSURE-1 PROVIDES QUALIFICATIONS CRITERIA)
WHO IS REQUIRED TO ATTEND MANDATORY PERSONAL FINANCIAL MANAGEMENT (PFM) COUNSELING?
ANY MEMBER THAT IS SUBJECT OF A BAD CHECK REPORT OR LETTER OF INDEBTEDNESS.
WHAT TYPE OF DUTY CORRESPONDS TO BEING ASSIGNED A COMMAND FINANCIAL SPECIALIST (CFS)?
COLLATERAL DUTY ONLY
WHAT TSERVICES DOES A COMMAND FINANCIAL SPECIALIST (CFS) PROVIDE?
FINANCIAL EDUCATION, COUNSELING, TRAINING, AND INFORMATION AND REFERRALS.
HOW OFTEN DOES THE FLEET AND FAMILY SUPPORT CENTER(FFSC) /MOBILE TRAINING TEAM(MTT) PROVIDE TRAINING?
MINIMUM OF OEN(1) CLASS PER QUARTER AND 25 STUDENT QUOTAS PER CLASS, USING NAVPERS 15608C, CFS INSTRUCOR GUIDE AND CFS TRAINING MANUAL.
WHAT REFERENCE COVERS COMMAND FINANCIAL SPECIALIST (CFS) RESPONSIBILITIES?
OPNAVINST 1740.5A
IS A DESIGNATION LETTER REQUIRED TO BE APPOINTED A COMMAND FINANCIAL SPECIALIST (CFS)?
YES, REQUIRED TO INPUTTED IN MEMBERS SERVICE RECORD, ALONG WITH COPY FORWARDED TO SERVICING FLEET AND FAMILY SUPPORT VRNYRT.