The 25th Annual CRA & Fair Lending Colloquium Was Held November 16 & 17
LEAVENWORTH, Kans. (November 30, 2021) – Armed Forces Bank was honored with the “2021 Community Impact Award” presented at the 25th annual CRA & Fair Lending Colloquium held virtually November 16 & 17, 2021. Armed Forces Bank is a full-service military bank committed to serving those who serve since 1907.
Wolters Kluwer Compliance Solutions, host of the Colloquium, recognized Armed Forces Bank for the breadth and innovation of its Access Loan Program to benefit military families.
Armed Forces Bank launched its Access Loan Program in early 2021. It provides a closed-end, fixed payment installment loan to cover the variable expense needs common to many military families. The Access Loan program is fully digital; it features a highly automated, online application process available 24/7. The process can often be completed in fewer than five minutes.
Since its launch, 4,300 clients have benefited from the Access Loan Program in the military community globally. The strong response rate validates the need for a responsible credit product for military families who face credit access challenges unique to a military lifestyle.
“Part of military life is being transferred from one duty station to another, at times with very limited notice. Military relocations are never free, and military families are often far from family, so going home for visits or emergencies can be costly. In addition, it is often difficult for military spouses to have consistent employment due to military relocations. All of these things combined create financial needs that are unique to a military family,” says Jodi Vickery, executive vice president, director of Military Consumer Lending, Armed Forces Bank.
“Armed Forces Bank’s Access Loan Program is providing the kinds of on-the-go interaction methods – mobile/online/chat/text – that allow new and current clients alike to access this program at a time and manner of their choosing.”
About Armed Forces Bank’s Access Loans
New Access Loan clients receive an Access Checking Account, which provides early access to U.S military DFAS payment services, lower fees, and access to 30,000+ ATMs. Clients can also add cash to their debit cards at more than 4,000 Walmart locations with a Cash2Debit service.
“The kind of positive influence a program such as this is having is truly remarkable and an inspiration to the broader banking industry, demonstrating how banks can positively affect communities where they operate in very meaningful ways,” says Steve Meirink, executive vice president and general manager, Wolters Kluwer Compliance Solutions. “We are honored to recognize the ingenuity of Armed Forces Bank in creating this successful program, and to acknowledge their ongoing care and commitment to those they serve.”
Armed Forces Bank Awards
In addition, Armed Forces Bank was recently honored as “Distinguished Bank of the Year” for the ninth consecutive year by at least one military branch of service (Army, Air Force and/or Navy).This award was given at the 2021 Association of Military Banks of America (AMBA) Annual Workshop held virtually August 23 and 24, 2021.
“Armed Forces Bank strives to provide the best banking solutions and financial advice no matter where our clients are stationed or deployed around the world,” adds Vickery. “It is an honor to serve the active and retired military service members and their families who are dedicated to serving our country.”
Armed Forces Bank has branches on 17 military installations throughout the United States. With 114 years experience, Armed Forces Bank provides a first class standard of care for military, government personnel and their families across all installations to uphold a consistent customer experience – regardless of location.
About Armed Forces Bank
Armed Forces Bank, headquartered in Fort Leavenworth, Kansas, is a full-service military bank. Committed since 1907 to serving those who serve, its mission is to provide quality financial products and services tailored for active and retired Department of Defense personnel – both military and civilian – and their families in all 50 states and around the world.
Armed Forces Bank has more on-base locations than any military bank in the country and over $1.2 billion in assets. Armed Forces Bank is a wholly owned subsidiary of Dickinson Financial Corporation, a $3.5 billion bank holding company headquartered in Kansas City, Mo.
Armed Forces Bank’s sister bank, Academy Bank, is a full-service community bank with over 80 branch locations in Arizona, Colorado, Kansas and Missouri. For more, visit www.afbank.com. Member FDIC.
About Wolters Kluwer Compliance Solutions
Wolters Kluwer Compliance Solutions is a market leader and trusted provider of risk management and regulatory compliance solutions and services to U.S. banks and credit unions, insurers and securities firms. The business, which sits within Wolters Kluwer’s Governance, Risk & Compliance (GRC) division, helps these financial institutions efficiently manage risk and regulatory compliance obligations, and gain the insights needed to focus on better serving their customers and growing their business.
Compliance Solutions’ CRA Wiz and Fair Lending Wiz help financial institutions manage cost and risks while managing their CRA and fair lending compliance obligations.
About Wolters Kluwer Governance, Risk & Compliance
Governance, Risk & Compliance is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to help ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes. GRC offers a portfolio of technology-enabled expert services and solutions focused on legal entity compliance, legal operations management, banking product compliance, and banking regulatory compliance.
Wolters Kluwer (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2020 annual revenues of €4.6 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,200 people worldwide.