Association of Military Banks of America

The Association of Military Banks (AMBA) is the only trade association representing banking institutions specializing in providing banking services for military personnel and their families around the world. AMBA has a long history of partnering with the Department of Defense for the benefit of military members and their dependents. AMBA’s membership includes large and small national and state-chartered banks, most operating on military installations and all insured by the Federal Deposit Insurance Corporation (FDIC). AMBA represents the interests of banking institutions serving the military. AMBA serves as a liaison with DoD, Defense Finance and Accounting Service (DFAS), Military Services, Treasury, FDIC, Office of the Comptroller of the Currency (OCC), Consumer Financial Protection Bureau (CFPB), and its Office of Servicemember Affairs (OSA).

Our Mission

Our mission is to continue the close working relationship with the nation’s major banking trade associations, including the American Bankers Association and the Independent Community Bankers of America, and the federal banking regulators.

AMBA works closely with the Defense Finance and Accounting Service (DFAS) which administers the overseas worldwide military banking program through a contract with Bank of America, one of AMBA’s member banks. AMBA helps the commercial banking industry maintain regulatory compliance with the Department of Defense.

AMBA sustains partnerships and relationships with many government and non-profit organizations that support military families, including the Consumer Financial Protection Bureau – Office of Servicemember Affairs, Department of Justice, Federal Deposit Insurance Corporation, Federal Trade Commission, National Military Family Association, Military Spouse Employment Partnership, Military Officer’s Association of America, the Consumer Federation of America’s Military Saves Campaign, BBB Military Line, and the Financial Industry Regulatory Authority (FINRA) Investor Education Foundation.

Benefits of an On-Base Bank

1

Passion

Military banks are full-service financial institutions with experience in and a passion for serving the unique needs of military personnel and their families.

2

Full Service

Military banks do not limit their services to their customers; they provide services to customers and non-customers in the military communities they serve.

3

Partnership

On-base banks partner with the commands and the military communities they serve by providing financial services and sponsoring community activities and programs.

4

Financial Education

Military banks are committed in their operating agreements to provide financial education to all base personnel and family members. This benefit is particularly important as Congress redefines military compensation and retirement benefits.

5

Responsible Lending

On-base banks engage in responsible lending by helping qualified service members and their families bridge occasional gaps between paychecks. As alternatives to predatory lending often available outside the installation’s main gate, military banks offer loans at reasonable prices and employ lending practices designed to improve borrower credit.

6

Choice

All on-base banks provide military members, civilian employees, and their families a choice of financial service providers without requiring them to leave the base. This choice results in a healthy competition through increased availability of products and services, improved delivery methods, and more favorable prices for members of the military community.

7

Command Support

Most military banks are participants in the Treasury General Account program, through which they provide financial services to federal entities on the installation. These banks also store cash, thereby eliminating the need for on-base entities to transport their funds off-base.

8

Convenience

Some military banks are located inside Military Exchanges and offer financial services during Exchange operating hours. Most on-base banks manage ATM machines that provide access to cash 24 hours a day, 7 days a week.

9

Support to the mission

Commercial, nonprofit, and other on-base accounts can be maintained at military banks. Alternatives such as personnel traveling off-base to perform these financial tasks potentially adversely impact their unit’s mission.

10

Expeditionary

Military banks serve where our military serves. Whether through on-base banks in the United States or abroad or through electronic bank networks like the Armed Forces Financial Network (AFFN), military banks provide military members access to their money wherever they are assigned or deployed.

Armed Forces Financial Network (AFFN) and the Association of Military Banks of America (AMBA)

The Armed Forces Financial Network®  (AFFN®) is an electronic transfer network (EFT) providing network access to the U.S. military, veteran, and civilian communities with ready access to their funds through ATM and POS terminals located at or near U.S. military bases worldwide. For more than 35 years, The Armed Forces Financial Network (AFFN) has provided service to the Association of Military Banks of America (AMBA) Banks and the Defense Credit Union Council (DCUC) Credit Unions in support of those who serve.

To learn more about AFFN, please visit www.AFFN.org

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AMBA Staff


AMBA Communications Support Staff


Board of Directors


AMBA Services Inc. Board