Armed Forces Bank
 | |
| Industry | Banking |
|---|---|
| Founded | 1907 |
| Headquarters | , U.S. |
| Parent | Dickinson Financial Corporation |
| Website | afbank |
Armed Forces Bank (AFB) is a bank servicing members of the United States Armed Forces and their family members.
History
[edit]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
[edit]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]
Community
[edit]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
[edit]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
[edit]- ^ 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.
