Financial Assistance

Whidbey Island has a relatively high cost of living, with the price of rentals sometimes higher than the housing allowances. When combined with the required first and sometimes last month's rental deposits, plus additional deposits for pets, this can create a severe financial hardship for new families to Whidbey, especially if it is unexpected. The key is advanced planning and research to minimize the financial impact of relocating to Whidbey Island. The information below is provided to help with some of this planning and research.

Temporary Lodging Expense -- A maximum of 14 days of TLE is authorized for this area. It is best to make temporary lodging arrangements as soon as possible due to limited availability, especially during high seasonal tourist events. Reservations at the Navy Lodge can be made up to one year in advance with orders and currently cost $95-140 per night, depending on the time of year. Navy Gateway Inns and Suites, located on the main base, is available to all incoming personnel and costs $83-103 per night, depending on the room type. The cost for a hotel in Oak Harbor can range from $92-250, depending on room size and the time of year. Note: Maximum authorized lodging reimbursement is $98 per night.

Housing Costs -- The average cost to rent on the island can range from $1,100-4,000 per month, depending on size, type (apartment, condo or house) and location. The median cost of purchasing a single-family house starts at $450,000 for a typical three-bedroom, 2.5-bathroom house. Those with a water view cost $850,000 or more.

Utility Costs -- Average monthly utility payments can range from $110-250 for electricity and $50-100 for natural gas. Electricity and gas costs are higher in the winter than the summer as most homes on Whidbey Island do not have nor require air conditioning. Some rentals include water, sewage and garbage as part of the rental payment; however, some do not and the minimum monthly service through the City of Oak Harbor ranges from $177-212 depending on garbage can selected plus a tiered water consumption rate; this does not include an optional yard waste container.

Car Insurance -- The minimum car insurance requirement for Washington State is liability with the following limits: $25,000/$50,000/$10,000. Review your current insurance to ensure coverage is valid in Washington State. Due to the weather, roadside assistance is strongly encouraged.

Advance Pay -- If you are considering advance pay (which is taxed), an alternative may be advance basic allowance for housing (which is not taxed). Always remember: Repayments will be automatically deducted from the service member's pay each month. Advance planning and savings prior to a transfer will eliminate the possibility of future financial hardship.

Banking and ATMs-- The Navy Federal Credit Union, a full service credit union, is located on base in Building 100, also known as the Post Office Building, which is across the street from Wendy's. There are many ATMs available both on and off base. Alaska USA Federal Credit Union services all on-base locations: Navy exchanges, the commissary and the Naval Health Clinic Oak Harbor. Both the commissary and NEX allow members to write checks for cash back up to $150 over the amount of your purchase. There are a variety of financial institutions in the community: Alaska USA Federal Credit Union, Navy Federal Credit Union, Wells Fargo, Heritage Bank (aka Whidbey Island Bank) and U.S. Bank, to name a few.

There are numerous financial assistance programs designed to help with budget counseling, debt and credit management, plus training and education programs.

Fleet and Family Support Center

The Fleet and Family Support Center provides confidential financial consultations for active duty, retired, reserves and their family members. The FFSC hosts two main financial courses each quarter: Command Financial Specialist and Million Dollar Sailor. The CFS course is a five-day program designed to train senior sailors, E-5 and above, to provide financial counseling and education at their command. The Million Dollar Sailor program is a two-and-a-half-day course designed for all ranks and ages, including family members, providing financial education and tools for a variety of financial situations such as insurance, credit/debt management, spending plans, saving and investing, consumer awareness/identity theft, car and home buying, and retirement planning.

The FFSC offers an array of classes available for individual commands and family readiness groups, upon request. Subjects include car buying, home buying, home selling, saving and investing, credit management and retirement planning. FFSC also offers classes that cover the mandatory Touch Point trainings to include First Duty Station, Permanent Change of Station, Promotion, Vesting in the Thrift Savings Plan, Entitlement to Continuation Pay, Marriage, Welcoming Your First Child, Preparing for Divorce, Disabling Sickness or Condition, Leadership Training, Pre-Deployment and Post-Deployment. Call 360-257-NAVY or 360-257-6289 for the current course list.

It is highly recommended you visit your local FFSC or CFS prior to relocating and complete a financial planning worksheet to compare the differences in pay and allowances as well as the differences in living expenses from your current duty station to your new duty station. This may prevent any financial surprises and ensure you receive all your relocation entitlements. For more information about additional services the FFSC can provide, call 360-257-NAVY (6289) or 360-257-2271.