Bank for U.S. military members
Armed Forces Bank (AFB ) is a bank servicing members of the United States Armed Forces and their family members.
History
Armed Forces Bank was founded in 1907 in Fort Leavenworth, Kansas , where it is currently headquartered.[1] [2] AFB and its sister bank, Academy Bank , are owned by Dickinson Financial Corporation (DFC), which is headquartered in Kansas City, Missouri .[3] [4]
Military connections
Armed Forces Bank operates the most locations on military bases in the United States, including 23 locations on 17 bases.[5]
Much of the Bank's retail team is also composed of people with direct connections to the U.S. military , including veterans, reservists , and military dependents .[2]
In July 2022, the Bank launched a podcast titled "Militarily Speaking", which discusses finances and overall life for the military community.[1]
AFB and DFC also support some philanthropy organizations, including Fisher House Foundation and the Armed Services YMCA .[2]
Criticism
As of 2021,[update] AFB relies on overdraft fees for over half its net income , leading to calls for consequences from bank regulators.[6]
References
^ a b Boudreau, Elaina (July 7, 2022). "Armed Forces Bank Launches "Militarily Speaking" Podcast Series Dedicated to Helping the Military Community Navigate Finances and Military Life" (Press release). Fort Leavenworth, Kansas: Armed Forces Bank. Retrieved December 19, 2022 – via PRWeb .
^ a b c "Business for a Better World: Armed Forces Bank" . Daily Herald . Arlington Heights, Illinois: Paddock Publications. October 20, 2022. Retrieved December 19, 2022 .
^ "About Us" . Armed Forces Bank . November 30, 2017. Retrieved December 19, 2022 . Our parent company, Dickinson Financial Corporation (DFC), is family owned and headquartered in downtown Kansas City, Missouri.
^ Wallace, Joe (December 16, 2022). "Armed Forces Bank" . Veteran.com . Three Creeks Media. Retrieved December 19, 2022 . Owned by Dickinson Financial Corporation and headquartered in Kansas City, Missouri, there are Armed Forces Bank branches in many states from California to New Jersey.
^ "Academy Bank and Armed Forces Bank make customer experience investment with SMG" (Press release). Kansas City, Missouri: SMG. Armed Forces Bank serves active and retired military and civilian clients globally with the most on-base locations (23 locations on 17 installations) of any military bank in the country.
^ Klein, Aaron (March 1, 2021). "A few small banks have become overdraft giants" . Brookings Institution . Retrieved December 20, 2022 .
External links