AMBA Member Banks Provide Financial Products, Services and Education to Military and Veteran Communities
The Association of Military Banks of America (AMBA), established in 1959, is a not for profit association of banks operating on military installations, banks not located on military installations but serving military customers, and military banking facilities designated by the U. S. Treasury. The association’s membership includes both community banks and large multinational financial institutions, all of which are insured by the Federal Deposit Insurance Corporation.
AMBA’s member banks provide financial products, services, support and education through their branches, on and off the installation, online programs and more. Military banks have assisted military and veteran personnel and their families since before AMBA was formed. AMBA member banks understand military lifestyle, deployments, PCSing, overseas moves, transitioning to Veteran status, and myriad other financial challenges that the military communities face. These banks know their customers; on-installation, they know the command and leadership and take great pride in the support of their communities.
A number of AMBA Banks have recently deepened their commitment to serving veterans by joining the Veterans Benefits Banking Program (VBBP). The VBBP began in December 2019 as a partnership between AMBA and the Veterans Benefits Administration designed to encourage veterans receiving monetary benefits from the VA to open or use an existing a bank account to deposit their monthly benefits. Accounts at regulated and insured financial institutions provide safer and less expensive ways to access and manage VA benefits. The alternatives — prepaid cards or paper checks — often come with high fees and increased exposure to fraud. Our Veterans deserve better.
AMBA is also proud to present MILDOCS. MILDOCS is a financial preparedness kit designed for the modern military family to organize their financial lives. Please visit www.mildocs.org for more information on how to download the kit and use it for your family’s needs.