Armed Forces Financial Network

From Handwiki
Armed Forces Financial Network (AFFN)
Armed Forces Financial Network logo.png
Operating areaUnited States and international
ATMs±800,000
Founded1985 (1985)
OwnerDefense Credit Union Council and Association of Military Banks of America
Websitewww.affn.org

The Armed Forces Financial Network (AFFN) is an interbank network. It provides electronic financial transactions services to the military banking and defense credit union sector.[1] It connects approximately 346 banks and credit unions with over 800,000 ATMs and 2.3 million point-of-sale locations that are often in or near military bases both in the United States and overseas.[2][3] John M. Broda is the president and chief executive officer of the network.[4]

History

The Armed Forces Financial Network was founded in 1985 at the request of the United States Army to support the "Surepay" direct deposit initiative.[5] The AFFN's role in the Surepay initiative was to be one way U.S. military personnel could gain access to their money.

In 2017 the Armed Forces Financial Network launched a chip and pin travel card.[6]

References

  1. ↑ "Company Overview of Armed Forces Financial Network, LLC". Archived from the original on 19 January 2018. https://web.archive.org/web/20180119124820/https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=40329879. Retrieved 19 January 2018. 
  2. ↑ "Armed Forces Financial Network and Air Force FCU Donate "Thank You" Gift Cards to the Lackland Fish - Defense Credit Union Council" (in en). Archived from the original on 19 January 2018. https://web.archive.org/web/20180119120235/http://www.dcuc.org/news/278225/DCUC-Member-Credit-Union-Press-Releases-Armed-Forces-Financial-Network.htm. Retrieved 19 January 2018. 
  3. ↑ "Credit Union Joins Armed Forces Financial Network - CUInsight". Archived from the original on 19 January 2018. https://web.archive.org/web/20180119060628/https://www.cuinsight.com/press-release/credit-union-joins-armed-forces-financial-network. Retrieved 19 January 2018. 
  4. ↑ "Armed Forces Financial Network Announces New President/CEO - Association of Military Banks of America". 19 February 2014. Archived from the original on 19 January 2018. https://web.archive.org/web/20180119175431/http://www.ambahq.org/news-issues/news/armed-forces-financial-network-announces-new-president-ceo/. Retrieved 19 January 2018. 
  5. ↑ "About Us". Archived from the original on 19 January 2018. https://web.archive.org/web/20180119060705/http://www.affn.org/about-us. Retrieved 19 January 2018. 
  6. ↑ "Armed Forces Financial Network Launches Travel Card - Association of Military Banks of America". 6 August 2013. Archived from the original on 19 January 2018. https://web.archive.org/web/20180119175425/http://www.ambahq.org/members-section/armed-forces-financial-network-launches-travel-card/. Retrieved 19 January 2018. 




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Categories: [Interbank networks]

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