Armed Forces Financial Network

Short description: Interbank network

Armed Forces Financial Network (AFFN)

Operating area| United States and international
ATMs| ±800,000
Founded| 1985 (1985)
Owner| Defense Credit Union Council and Association of Military Banks of America
Website| www.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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