Washington Trust Joins Veterans Benefits Banking Program

WESTERLY, R.I. — The Washington Trust Company (Washington Trust) has joined the Veterans Benefits Banking Program, a partnership between the U.S. Department of Veterans Affairs and the Association of Military Banks of America that helps veterans, beneficiaries, caregivers and survivors access safe, reliable banking services. 

The Veterans Benefits Banking Program was created to connect veterans and other eligible recipients of VA monetary benefits with participating financial institutions that can help them securely receive and manage those benefits through direct deposit. The program also provides access to financial education resources and free financial counseling.

Washington Trust is one of only two community banks with branches in Rhode Island participating in the Veterans Benefits Banking Program, providing veterans and their families access to local bankers and in-person financial guidance close to home.

“The veterans who have served our country deserve access to affordable banking services and a safe way to receive their benefits,” said Washington Trust Chairman and CEO Ned Handy. “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.” 

One of the requirements for participation in the Veterans Benefits Banking Program is the availability of a low- or no-cost checking account. Washington Trust's qualifying account is its Simply Free Checking account. In addition to deposit services, Washington Trust offers financial wellness resources, VA loan programs and a full range of personal banking services designed to support veterans and their families.

The Veterans Benefits Banking Program was established in part to help veterans avoid fraud and gain access to the safety and security of federally insured financial institutions. Participating banks have committed to helping veterans access banking services and receive their VA benefits through direct deposit, a safer alternative to paper checks and prepaid cards.

For more information, visit Washington Trust’s Better Banking for Veterans website. 

ABOUT THE WASHINGTON TRUST COMPANY

Founded in 1800, The Washington Trust Company (“Washington Trust”) is recognized as the oldest community bank in the nation, the largest state-chartered bank headquartered in Rhode Island and one of New England’s premier financial services companies. In 2025, Washington Trust reached a milestone of 225 years in operation, marking its commitment to helping the people, businesses, and organizations of New England improve their financial lives. The Bank offers a wide range of commercial banking, mortgage banking, personal banking and wealth management services through its offices in Rhode Island, Connecticut and Massachusetts and a full suite of convenient digital tools. Washington Trust is a member of the FDIC and an equal housing lender. Washington Trust is a subsidiary of Washington Trust Bancorp, Inc., a publicly-owned holding company which trades on NASDAQ: WASH. For more information, visit the Bank's website at www.washtrust.com or the Corporation's website at ir.washtrust.com.