Armed Forces Bank
| Company type | Private |
|---|---|
| Industry | Banking, Financial services |
| Founded | 1907 in Fort Leavenworth, Kansas, United States |
| Headquarters | Fort Leavenworth , United States |
Area served | United States (military bases) |
| Owner | Dickinson Financial Corporation |
| Parent | Dickinson Financial Corporation |
Armed Forces Bank (AFB) is a bank dedicated to serving members of the United States Armed Forces along with their families.
History
Established in 1907 at Fort Leavenworth, Kansas, where its main office is still located, AFB functions in conjunction with its affiliate institution, Academy Bank. Both banks are owned by Dickinson Financial Corporation (DFC), which is headquartered in Kansas City, Missouri.
Military connections
With 23 branches situated on 17 different military bases throughout the United States, Armed Forces Bank holds the most extensive footprint on military installations nationwide. Its retail staff comprises veterans, reservists, and military dependents, underscoring its commitment to the military population.
Community
In July 2022, the bank introduced the Militarily Speaking podcast, which centers on financial topics and lifestyle issues relevant to military personnel.
Additionally, AFB and DFC contribute to charitable groups including the Fisher House Foundation and the Armed Services YMCA.
Criticism
By 2021, more than fifty percent of AFB's net income was derived from overdraft fees, leading to demands for increased regulatory oversight.