Armed Forces Bank Honored by Consumer Federation of America for Commitment to Veterans' Financial Well-Being

Armed Forces Bank Earned Sole "Community Impact Award" as well as "Designation of Savings Excellence" from Veteran Saves

Banking innovation and leadership at Armed Forces Bank reflect commitment to meeting unique needs of military service members and their families

LEAVENWORTH, Kan., Feb. 19, 2025 /PRNewswire/ -- The nonprofit Consumer Federation of America (CFA) has awarded Armed Forces Bank – a full-service military bank committed to serving those who serve since 1907 – with high honors recognizing the bank's commitment to the financial well-being of veterans. Armed Forces Bank received the esteemed Veteran Saves Week "Community Impact" and "Designation of Savings Excellence" Awards.

Veteran Saves is a program under the America Saves umbrella and is coordinated by the CFA. The campaign encourages veterans to take the Veteran Saves Pledge and organizations to promote savings year-round. Through financial education, community resources, behavioral economics and support, Veteran Saves aims to help veterans improve their financial well-being and achieve long-term financial goals.

Community Impact Award
The Veteran Saves Week "Community Impact Award" recognizes the organization that best leveraged the Veteran Saves pledge to encourage savings goals for their community during the annual Veteran Saves Week campaign.

Armed Forces Bank was the sole recipient of this distinction out of more than 887 participating organizations. By empowering individuals with a clear plan, the CFA said Armed Forces Bank helped double the chances of successful saving among those who took the pledge due to a well-recognized concept that individuals with a saving plan are twice as likely to make their intentions a reality.

Designation of Savings Excellence Award
The CFA also awards the Veteran Saves Week "Designation of Savings Excellence Award" to financial institutions that created measurable impact and displayed exceptional achievement during the annual Veteran Saves Week campaign, which took place in November 2024.

Armed Forces Bank is one of only four banks and three credit unions honored with this distinction.

"We're proud to present the Community Impact Award to Armed Forces Bank for their outstanding use of the Veteran Saves Pledge and their dedication to helping veterans set and achieve savings goals," said Krystel Spell, program manager at Veteran Saves. "The outstanding efforts of Armed Forces Bank – as well as all the financial institutions awarded the Designation of Savings Excellence – made a significant impact on the veteran community."

The work of all of the Veteran Saves Week Award winners and participating organizations contributed to an impressive collective result. During the four-day timeframe following Veterans Day – November 12-15, 2024 – these institutions reached over 4.1 million individuals and encouraged nearly $1.7 million worth of deposits into new and existing savings accounts. Additionally, veterans pledged $418,000 toward savings goals for the remainder of 2024.

"These awards honor us and our steadfast commitment to meeting the unique needs of military service members and their families," said Tom McLean, SVP and regional military executive for Armed Forces Bank. "No matter where they are stationed or deployed around the world, we find ways to provide them with better banking solutions and valuable financial advice."

Innovating to Better Serve
With a constant focus on innovation to help military clients effectively manage their finances, Armed Forces Bank offers services designed specifically to meet the needs of military personnel and their families:

• Stretching Budgets – Access Rewards Checking helps military families stretch their budgets with distinctive rewards, local and national discounts, and cash-back online shopping rewards. Identity theft and credit monitoring provide additional security to protect those who protect our country.
• Putting Down Roots – As an approved VA lender, Armed Forces Bank eliminates the need for veterans and active service members to coordinate with the VA. The dedicated VA lending experts at Armed Forces Bank handle every step with the white-glove service to the military and to veterans that is ingrained in the bank's culture.
• Building Credit - An Armed Forces Bank Credit Builder Secured Visa Credit Card can help establish or rebuild credit on everyday purchases. Card holders deposit an amount from $300 up to $3,000 into a Credit Builder Savings Account to set their credit limit. By making on-time payments and keeping balances low, service members can improve credit.
• Sage Financial Advice – Armed Forces Bank offers insightful 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.

"It's truly a privilege to serve our military customers, and we're proud of the tools we provide to help them improve their financial success," said Paul Holewinski, CEO of Armed Forces Bank and Dickinson Financial Corporation. "All of our products and services are designed with their unique needs in mind. We appreciate the recognition from the CFA, but the best rewards come from clients achieving their financial goals."

About Armed Forces Bank
Armed Forces Bank, 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 $1.4 billion in assets and is a wholly owned subsidiary of Dickinson Financial Corporation, a $4.3 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 www.afbank.com and follow us on LinkedIn, Facebook and Instagram. 

Member FDIC.

SOURCE Armed Forces Bank