Armed Forces Financial Network

{{Short description|Interbank network}}

{{Infobox Interbank Network

| name = Armed Forces Financial Network (AFFN)

| logo = Armed Forces Financial Network logo.png

| area = United States and international

| foundation = {{start date |1985}}

| cardholders = ±93,000,000

| atm = ±800,000

| point of sale locations = ±2,300,000

| website = {{url |https://www.affn.org/}}

| owner = Defense Credit Union Council and Association of Military Banks of America

}}

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.{{cite web|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=40329879|title=Company Overview of Armed Forces Financial Network, LLC |website=Bloomberg News |accessdate=19 January 2018 |url-status=live|archiveurl=https://web.archive.org/web/20180119124820/https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=40329879|archivedate=19 January 2018}} 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.{{cite web|title=Armed Forces Financial Network and Air Force FCU Donate "Thank You" Gift Cards to the Lackland Fish - Defense Credit Union Council|url=http://www.dcuc.org/news/278225/DCUC-Member-Credit-Union-Press-Releases-Armed-Forces-Financial-Network.htm|website=www.dcuc.org|accessdate=19 January 2018|language=en|url-status=live|archiveurl=https://web.archive.org/web/20180119120235/http://www.dcuc.org/news/278225/DCUC-Member-Credit-Union-Press-Releases-Armed-Forces-Financial-Network.htm|archivedate=19 January 2018}}{{cite web|title=Credit Union Joins Armed Forces Financial Network - CUInsight|url=https://www.cuinsight.com/press-release/credit-union-joins-armed-forces-financial-network|website=CUInsight|accessdate=19 January 2018|url-status=live|archiveurl=https://web.archive.org/web/20180119060628/https://www.cuinsight.com/press-release/credit-union-joins-armed-forces-financial-network|archivedate=19 January 2018}} John M. Broda is the president and chief executive officer of the network.{{cite web|title=Armed Forces Financial Network Announces New President/CEO - Association of Military Banks of America|url=http://www.ambahq.org/news-issues/news/armed-forces-financial-network-announces-new-president-ceo/|website=Association of Military Banks of America|accessdate=19 January 2018|date=19 February 2014|url-status=live|archiveurl=https://web.archive.org/web/20180119175431/http://www.ambahq.org/news-issues/news/armed-forces-financial-network-announces-new-president-ceo/|archivedate=19 January 2018}}

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.{{cite web|title=About Us|url=http://www.affn.org/about-us|website=www.affn.org|accessdate=19 January 2018|url-status=live|archiveurl=https://web.archive.org/web/20180119060705/http://www.affn.org/about-us|archivedate=19 January 2018}} 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.{{cite web|title=Armed Forces Financial Network Launches Travel Card - Association of Military Banks of America|url=http://www.ambahq.org/members-section/armed-forces-financial-network-launches-travel-card/|website=Association of Military Banks of America|accessdate=19 January 2018|date=6 August 2013|url-status=live|archiveurl=https://web.archive.org/web/20180119175425/http://www.ambahq.org/members-section/armed-forces-financial-network-launches-travel-card/|archivedate=19 January 2018}}

References