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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.
At that time, all Air Force financial management functions were consolidated under the Air Force Comptroller (a military position filled by a lieutenant general). The office of the Air Force Comptroller was disbanded on 1 July 1989 when the position of Assistant Secretary of the Air Force (Financial Management and Comptroller) was re-established.
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]
The Defense Finance and Accounting Service (DFAS) is an agency of the United States Department of Defense (DOD), headquartered in Indianapolis, Indiana.The DFAS was established in 1991 under the authority, direction, and control of the Under Secretary of Defense (Comptroller)/Chief Financial Officer to strengthen and reduce costs of financial management and operations within the DOD.
The Air Force selected Ellsworth Air Force Base as the site for its finance center from more than 80 candidate locations. [2] It was chosen because the base had existing facilities with 110,000 square feet (10,000 m 2) of available floor space as well as good force protection and communications infrastructure. In addition, the area's cost of ...
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Established in 1956 as the United States Air Force Security Service Federal Credit Union, the credit union first opened its doors at Kelly Air Force Base in San Antonio, Texas, with eight members and $25 in deposits. In 1968, the board of directors voted to shorten the credit union’s name to Security Service Federal Credit Union.
In 1953, it was operating from a one-room office on Lackland Air Force Base. On April 2, 2024, AFFCU changed its name to Soarion Credit Union. [5] In 2006, Soarion joined the Co-op Financial Services, allowing access to over 30,000 ATMs for no surcharge. In the summer of the following year, Soarion joined the Shared Branching Network.