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BANKING - Europe
Military personnel in Europe have stateside-like banking services at their disposal. Services of the Community Bank and the various Credit Unions include checking and savings accounts, ATM access, loans, credit and debit cards, online banking, automatic bill payments, 24-hour telephone access, bank-by-mail and currency conversion.
Community Bank - Making a Difference in Our Communities
Community Bank is proud to be part of the military communities we serve - not just as bankers, but as citizens as well. The shared experience of living and serving with our military abroad gives us a common perspective with our account holders and unique insight into their financial needs.
How do we express the pride we feel serving our overseas military communities? We begin by providing the highest possible level of banking service to our account holders. Then we make available, free of charge, to all qualified individuals (not just account holders), key localized services such as check cashing, currency exchange, wire transfers, and local bill payments. We continue by providing a comprehensive program of financial education on our website, in our banking centers and local schools, and through outreach to our communities.
ONGOING FINANCIAL EDUCATION
Like most Americans, members of the military, in general, do not save enough for retirement. In fact, rather than save, many service members struggle just to pay off high-interest debt. The problem is so acute that the Pentagon has characterized it as a threat to our nation's military readiness. To help address this concern, we are committed to providing service members with essential information about managing their personal finances.
Online Resources
Increasingly, the internet is an important medium for communicating and conducting business. This is especially true for service members who often are geographically removed from family, friends, and everyday retail services. In order to better serve the growing number of our account holders who bank online, as well as all visitors to our website, we offer an extensive range of educational resources and interactive tools. These include information that helps service members avoid credit traps and make better choices when borrowing money. Other resources include information on budgeting, paying down debt, saving money, setting financial goals, and investing. We also make available useful tools, such as financial calculators and checklists, and link visitors to other trusted websites and organizations that also are committed to helping service members and their families.
Banking Center Help
In our banking centers, we offer financial readiness guides and toolkits that account holders can work with on their own and associates can use as a basis for instruction when counseling account holders. Several major financial readiness campaigns that reinforce the importance of saving message run during the year in the banking centers.
Partnering in the Community
On-base, we partner with base commands and local schools to present key personal finance information to a variety of groups that include service members, general audiences, and students. Moreover, we work closely with educators to develop lesson plans that introduce students to important financial life skills, and we offer tools and materials that help parents engage with children on important themes, such as budgeting and saving for future needs.
BANKING SERVICES
Stateside-Style Services Abroad
We are proud to provide the men and women of our military stationed abroad with the same level of financial services that Americans back home enjoy. Where possible, we've customized these services to address the unique needs of service members. One example is a Standing Payment Order,* which pays recurring monthly bills, such as rent, utilities, and insurance. Not only are bills paid automatically, the U. S. Dollars in the customer's account are automatically converted to the payee's local currency, saving time and money for the account holder. As another example, we offer wire transfers to stateside accounts and extensive online banking services that are especially useful for those who are deployed or otherwise unable to bank in person.
Online Services
Through our website, applying for a loan is quick and easy. In most cases, we can even provide applicants with an instant decision. While online, account holders can also view their current account statement, as well as the previous six months of account activity. Our Go Paperless option saves time and money, and enhances security by foregoing mailed statements and instead notifying account holders by email when their new monthly account statement is available for viewing online. Our Payment Imaging feature allows account holders to view images of both checks and deposit slips in the current and two previous statement periods.
Non-retail Services
In addition to providing banking services to individuals, we also provide a host of non-retail services to the military that include financial logistics in support of operations, as well as currency conversion and disbursement to other on-base financial and retail outlets.
USING TECHNOLOGY TO MEET THE NEEDS OF OUR TROOPS
Easing Transfers
Military life is marked by periodic moves. Military families routinely relocate every one to three years and the call to deploy can come at any time. For these reasons, service members are often not able to bank in person. We've responded by making many banking services available online or by phone. Online, these services include greater access to account information, including past and current statements, the ability to view deposit slips and cancelled checks, pay bills, and transfer money to stateside accounts. The online experience can be personalized to provide account holders with helpful information about their specific banking center, such as locations and banking hours.
Streamlining Operations
In addition to providing our customers with an unprecedented level of service, we are using technology to make our operations more efficient. Our consolidated banking system connects all of our banking centers, regardless of country. Not only does this help us operate with greater efficiency, it allows our customers to keep their same account when they relocate to a new country.
Online Loans
Our online loan application system significantly reduces the need for paperwork and can usually provide customers with an instant loan decision.** Customers can apply for a Community Bank loan 24/7 online. Just one more way we're using technology to bring extra service to our customers and efficiency to our operations.
Website
For further information visit our website at DoDCommunityBank.com.
*Not available at all locations.
**Credit subject to approval. Normal credit standards apply.
Credit Unions
Credit Unions are another part of the military banking structure. They are not-for-profit financial cooperatives owned by their members. All members of a credit union have equal voting rights, regardless of their deposit balance, and profits are returned to members in the form of such things as higher savings rates and lower loan rates. There are presently four Credit Unions serving the military in Europe. Two of them have branches on Army installations.
- Andrews Federal Credit Union - www.andrewsfcu.org - has branches in Brussels, Chievres, Schinnen, Schweinfurt, Wiesbaden.
- Service Credit Union - www.servicecu.org - has Branches in Ansbach, Bamberg, Baumholder, Garmisch, Grafenwöhr, Heidelberg, Hohenfels, Mannheim, Panzer, Stuttgart, Vilseck and Vogelweh.
Authorized customers of the Credit Unions are pretty much the same as those for the Community Bank. One difference, until recently, was that Europe-based retirees could also use the Credit Unions. This has been changed and retirees can no longer open new accounts at the Credit Unions, though retirees who already had accounts may keep them.
Retirees denied access to the military financial institutions do, however, have the advantage of the Defense Department's International Direct Deposit program.
For more information, with a list of participating countries, go to: www.dod.mil/dfas/
Banking - KMC
Military personnel in Europe have stateside-like banking services at their disposal. Services of the Community Bank and the various Federal Credit Unions include checking and savings accounts, ATM access, loans, credit and debit cards, online banking, automatic bill payments, 24-hour telephone access, bank-by-mail and currency conversion.
Community Bank is operated through a contract between a commercial financial institution and the Department of Defense. Currently, the contractor is Bank of America. Authorized customers include active duty U.S. military personnel, DOD U.S. civilian employees, U.S. employees of all other U.S. government departments and NAFs, plus their sponsored family members. Community Bank centers in the KMC are at Vogelweh, Kleber, Miesau, Landstuhl, Ramstein North, Ramstein South and Sembach.
Then there are the Credit Unions, not-for-profit financial cooperatives owned by their members. All members of a credit union have equal voting rights, regardless of their deposit balance, and profits are returned to members in the form of such things as higher savings rates and lower loan rates.
Service Credit Union has KMC branches at Vogelweh (Unit 8190, APO AE 09094, Tel: 0631-535-6500 or DSN 489-6335/6336, Fax: 631-535-6529, and Ramstein South (Unit 3450, APO AE 09094, Tel: 06371-463-9600 or DSN 480-2425/5556, Fax: 06371-463-9650.
Authorized customers of the Credit Unions are pretty much the same as those for the Community Bank. One difference, until recently, was that Europe-based retirees could also use the Credit Unions. This has been changed and retirees can no longer open new accounts at the Credit Unions, though retirees who already had accounts may keep them.
Retirees denied access to the military financial institutions do, however, have the advantage of the Defense Department's new International Direct Deposit program (IDD). Under it the Defense Finance and Accounting Service sends their monthly payments, electronically and in the local currency, to the recipient's bank account in certain countries, including Germany.
For more information, including a list of participating countries, go to: www.dod.mil/dfas.
These financial institutions move with the times and offer the utmost in modern banking. They have automated teller machines, and customers can usually access their accounts not only at the ATMs of their own military financial institution but also at the ATMs of all the other military financial institutions. To use them you need an ATM card and a Personal Identification Number (PIN) supplied by the bank or credit union. They also offer 24-hour telephone service. You access this by punching in or telling them your account and PIN numbers.
Probably the biggest modern breakthrough, though, is online banking. With this Internet-based service you can view your account balances, transfer funds, receive and pay bills, send service requests and more. To get started, you need a checking or savings account at the Community Bank or Credit Union, a PC, a modem, access to the Internet and a browser. Once you have the website on screen, you feed it your account and PIN numbers and follow the instructions that appear.