The Distinguished Bank of the Year award recognizes on-base financial institutions that provided exceptional service to the community during the preceding calendar year. Armed Forces Bank was recognized for its leadership in serving military service members and their families with a vast array of banking services, installation support and financial education.
“As protectors of our nation, the financial stability of our military families is a major factor in military readiness,” said Kia McCallister-Young, director of America Saves. “Our current economy—with inflation, workplace shifts, and housing crises—has caused a compounded financial strain on the military community at-large. Having financial institutions committed to providing practical strategies, tips, and resources that move people to action is essential in the strength of our Armed Forces.”
Military Saves Designation of Savings Excellence & Community Impact Award
In addition, Armed Forces Bank received the 2023 Military Saves “Designation of Savings Excellence” (DOSE) and was honored with the inaugural “Community Impact Award,” at the AMBA Workshop this week.
Armed Forces Bank is fortunate to have been honored with the DOSE designation for 10 of the last 11 years. The coveted DOSE honor highlights banks and credit unions that make an extraordinary effort to promote positive saving behaviors and take actions to improve the financial stability of those in their community.
The Community Impact Award recognizes organizations who use the Military Saves pledge to promote setting a savings goal and making a plan to reach it. This award builds on the well-recognized concept that individuals with a saving plan are twice as likely to save successfully.
The Military Saves award program is coordinated by the non-profit Consumer Federation of America and is designed to help service members and their families save money, reduce debt and build wealth. It is the nation’s only award focused on helping Americans improve their financial stability.
Tom McLean, SVP and Regional Military Executive for Armed Forces Bank, accepted the awards at the AMBA Workshop.
“We are honored to have received these awards over the course of many years, which reflect our steadfast commitment to meeting the distinct needs of military service members and their families,” said McLean. “No matter where they are stationed or deployed around the world, Armed Forces Bank strives to provide the best banking solutions and financial advice.”
Innovating to Better Serve
With a constant focus on innovation to help military clients effectively manage their finances, Armed Forces Bank now offers Access Rewards Checking designed specifically to meet the needs of military personnel and their families. This and other programs listed below offer advantageous and accessible services for military personnel:
- New Access Rewards Checking helps military families stretch their budgets with distinctive rewards, local and national discounts, and online shopping rewards with cash back. Identity theft and credit monitoring provide additional security to protect those who protect our country.
- New Armed Forces mobile-friendly website to launch in October 2023 with improved look and feel, more robust functionality, and easy navigation to help military personnel find what they need quickly. It’s Armed Forces Bank’s duty to respect the time, as well as provide convenience and the latest banking resources to military personnel.
- An enhanced account opening solution is coming in September 2023 designed to make it faster, easier and safer for new and existing clients to open accounts. This is designed to ensure military clients get the services they need whenever and wherever they are stationed around the world.
- Armed Forces Bank offers sage financial advice on its “Militarily Speaking” podcast, which shares success stories and insights about financial practices, as well as strategies to help service members get ahead.
“As our military customers’ unique needs evolve, we are continuously working to stay on the leading edge of providing accessible, convenient and effective service,” said Paul Holewinski, CEO of Armed Forces Bank and Dickinson Financial Corporation. “We consider it an honor to serve active and retired military service members and their families, all of whom are dedicated to serving our country.”
One of Kansas City’s Top Five Strongest Banks
At a time when the banking industry’s financial soundness is increasingly in focus, Armed Forces Bank was recently honored as one of the top five strongest banks in the Kansas City area. The bank ranked number three in financial strength among banks with $1 billion or more in assets by the Kansas City Business Journal. The widely respected business publication recognized Armed Forces Bank for its healthy 71.41% loan-to-deposit ratio and “exceptionally strong” core-capital ratio of 14.23%. The Business Journal also noted that 86.52% of Armed Forces Bank deposits are covered by the FDIC.
About Armed Forces Bank
Armed Forces Bank (AFB), founded and headquartered in Fort Leavenworth, Kansas, is a full-service military bank committed to serving those who serve since 1907. Armed Forces Bank provides affordable, personal and convenient banking and financial services to both active and retired military, as well as civilian clients in all 50 states and around the world. Approximately 75% of Armed Forces Bank associates have some type of military affiliation either by spouse, retired themselves or their children.
Armed Forces Bank has $1.2 billion in assets and is a wholly owned subsidiary of Dickinson Financial Corporation, a $3.6 billion bank holding company headquartered in Kansas City, Missouri. Armed Forces Bank’s sister bank, Academy Bank, is a full-service community bank with over 70 branch locations in Arizona, Colorado, Kansas and Missouri. For more information, visit http://www.afbank.com and follow us on LinkedIn, Facebook and Instagram.
Elaina Boudreau, BELA Communications, (913) 660-0548, [email protected]
SOURCE Armed Forces Bank