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Manage Your Big Life Events With an Armed Forces Bank Military Access Loan

a military family welcomes a new baby into the family

Life is full of surprises, and life in the military is no different -- in fact, being a member of the military or a military family often demands a greater level of flexibility.  Big life events, whether they’re planned or not, can unfortunately lead to stress.  A Military Access Loan from Armed Forces Bank could help alleviate some of the pinch when it comes to your finances.

Learn more about common life events in the military and how our Access Loan, which is a type of Military Personal Loan, can help.

Purchasing Your Uniform

Whether you’re purchasing your uniform for the first time or keeping it up-to-date, military members are expected to pay. New recruits can expect to shell out about $1,600 to $2,400.

While the Army, Navy, Marine Corps, and Air Force do provide a clothing allowance, it doesn’t necessarily cover all required uniform items. That means that service members are expected to pick up the cost of some items -- and what’s covered can depend on branch of service, gender, rank, and other factors.

Birth of a Child 

Most of us know that having a baby is not cheap. If it’s your first child or you have a large age gap between your children, there are the expenses related to purchasing necessities, such as car seats, cribs, diapers, strollers, clothing, and more.

Additionally, the experience of giving birth in a hospital in the U.S. can set families back $5,000 to about $15,000, assuming there are no complications. While the military provides a parental leave program, a civilian spouse may not have the same opportunity at their job, meaning money could be tight for a while if they stay home with the baby.

PCS Moves 

Permanent Changes of Station are never easy. And they’re also never free. You can expect to be making many upfront payments as part of the moving process until DLA (dislocation allowance) kicks in. And it’s also true that, no matter how well you plan, there will likely be expenses that DLA just won’t cover.

While a VA Loan could help you buy your new home, a Military Access Loan may be a better choice for the incidental moving expenses that pop up. 

Transitioning to Civilian Life 

The transition from military life to civilian life is a big one. And a lot of financial topics look much different for those who are living the civilian life -- such as taxes, retirement planning, insurance planning, housing planning, and more. Even finding the right civilian job for you could take some time, so keep this in mind when planning for your financial future. 

With all this in mind, it’s important to re-evaluate what your future finances will look like. Be sure to plan ahead and adjust your budget accordingly in order to avoid any surprises.

Learn more about making the financial transition from military to civilian life.

Unexpected Life Events 

No matter how much we may try to plan, unexpected events are always going to pop up. Maybe it’s a surprise pregnancy, the loss of a job or loved one, or a medical emergency. Each of these life events comes with its own emotions -- whether happy or sad -- and they all definitely come with a price tag. 

An emergency fund -- or a “peace of mind” account, as we like to call them at Armed Forces Bank -- can help in many of these situations. But we understand that sometimes it’s hard to get around to saving for emergencies when life’s everyday expenses are more pressing.

For those moments when you need funds, whether planned or unplanned, a Military Access Loan from Armed Forces Bank can help.

Learn About Armed Forces Bank’s Military Access Loans 

At Armed Forces Bank, we are committed to serving those who serve. OurAccess Loan* gives our military community access to the funding you need with a fast and easy approval process. 

Funds can be used for each of the situations listed above: uniform purchase, the birth of a child, PCS moves, transitioning to civilian life, and unexpected life events. But they can also be used for other expenses, such as education or taking a vacation.  An Armed Forces Bank Military Access Loan puts you in the driver’s seat.

This personal military loan has flexible credit options for Armed Forces Bank clients as well as active duty or retired military borrowers with less than perfect credit.

Features of the Armed Forces Bank Access Loan include:

  • Expanded credit options for existing Armed Forces Bank clients
  • Credit options for borrowers with little or no credit history
  • Fixed terms and monthly payments to simplify your budget
  • Automated payments so you'll never miss one

How does the Access Loan work?

1.  Apply online in just minutes 

2.  See instant-approval status 

3.  Receive and accept the loan offer 

4.  Get quick access to the money in an Armed Forces Bank account 

If you are already an Armed Forces Bank client your loan will be deposited directly to your account. If you are new to Armed Forces Bank, a new Access checking account will be set up first and then your loan proceeds will be deposited there.

Whatever Life Brings, Armed Forces Bank Is Here 

No matter what events pop up in your life, Armed Forces Bank is working hard to help you manage your finances. And that’s why we are proud to offer our Access Loan to those who have served our country.


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*Subject to credit approval.  Restrictions apply.  Annual Percentage Rate is based on credit score. Only one personal loan allowed to any borrower at any time. Loan terms are based on the loan amount.  Origination fee applies.  Demand deposit relationship required.  Refinance applicants must qualify for a minimum of $250 in additional cash for approval.