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by | Mar 16, 2018 | Hosta

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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". Bloomberg News. Archived from the original on 19 January 2018. 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". www.dcuc.org. Archived from the original on 19 January 2018. Retrieved 19 January 2018.
  3. ^ "Credit Union Joins Armed Forces Financial Network - CUInsight". CUInsight. Archived from the original on 19 January 2018. Retrieved 19 January 2018.
  4. ^ "Armed Forces Financial Network Announces New President/CEO - Association of Military Banks of America". Association of Military Banks of America. 19 February 2014. Archived from the original on 19 January 2018. Retrieved 19 January 2018.
  5. ^ "About Us". www.affn.org. Archived from the original on 19 January 2018. Retrieved 19 January 2018.
  6. ^ "Armed Forces Financial Network Launches Travel Card - Association of Military Banks of America". Association of Military Banks of America. 6 August 2013. Archived from the original on 19 January 2018. Retrieved 19 January 2018.


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