In this episode of “Militarily Speaking,” Tom, Jodi, and guest Andia Dinesen discuss the Association of Military Banks of America (AMBA) and the services they provide for military members, veterans, and their families. They also dive into the plethora of services that exist to help military members and veterans achieve good financial health
Welcome to the "Militarily Speaking" podcast with Tom McLean and Jodi Vickery.
In this episode of “Militarily Speaking,” Tom, Jodi, and guest Andia Dinesen discuss the Association of Military Banks of America (AMBA) and the services they provide for military members, veterans, and their families. They also dive into the plethora of services that exist to help military members and veterans achieve good financial health.
“Militarily Speaking” is a podcast produced by Armed Forces Bank that is dedicated to the military lifestyle and all the things that makes military community who they are.
Ep. 12 — A Talk with Andia Dinesen from AMBA (Association of Military Banks of America)
Introducing Andia Dinesen from the Association of Military Banks of America
Jodi introduces Andia Dinesen, the Executive VP of Communications and Operations at the Association of Military Banks of America (AMBA).
- Jodi continues to list off the awards and recognitions, as well as her affiliation with the military.
- Tom discusses more aspects of Andia’s personal life, and works his way into a joke.
Jodi asks Andia to explain what AMBA does and how it helps banking institutions.
- AMBA is a non-profit trade organization for military banks, both on and off installations.
- She notes that AMBA also acts as consultants those organizations on the military financial challenges and culture.
- Tom notes that Andia has a history with the Airman Family Readiness Center in her career.
- Andia adds that those partnerships are vital to getting public / private partnerships.
AMBA Memberships and Programs
Tom asks how people or organizations can become a member at AMBA.
- Andia notes that “military banks” is a general term, as their members can be anyone that has a focus on military and veterans customers.
- The banks who physically support the community by having banking centers or ATM services (or both) on a military installation are considered Regular Members.
- Andia then dives into the details of an Associate Member, which is those outside the walls of a military installment, as well as Corporate Memberships and Individual Memberships.
- She adds that all of the information around those memberships can be found on AMBA’s website: https://ambahq.org/
Jodi asks her to discuss the Veteran’s Benefit Banking Program (VBBP).
- Andia and AMBA helped develop the program alongside the VA because more than 250,000 veterans who were identified as unbanked or underbanked.
- The participating financial institutions committed to providing a free checking account with no minimum balance to veterans who bring a qualified monthly deposit to the bank or credit union.
- This program now includes more than 40 banks, with more being added.
- AMBA then partnered with other organizations to add financial and credit counseling and financial education called Vet Cents.
- Veterans can access these services by going to: https://veteransbenefitsbanking.org/
Tom notes that while she’s touched on it already, if there are other places she knows where veterans or military members can find services and financial education.
- Andia brings up the free VBBP programs with certified credit and financial counselors, as well as Vet Cents is another easy recommendation.
- She adds that banks and financial institutions that are on military installations, as well as the family readiness centers offer financial education classes.
- Military One Source, she says, is a great go to place if you are not near a military installation.
- Andia then discusses https://finred.usalearning.gov/ that has a plethora of resources, and the Armed Forces Financial Guide which is available on the AMBA website.
AMBA Partnerships and Military Spouse Employment
Tom then asks Andia to discuss AMBA’s partnership with other organizations, such as the FINRA Foundation Military Spouse Fellowship Program.
- Andia discusses how this fellowship program launched her career, and details about the program.
- She says that you can get board certified through the program, and because applicants have knowledge of the military community and culture, and can give back to the military community.
Jodi asks what affiliation Andia has with military spouse employment associations, including MSEP.
- Andia discusses the Military Spouse Employment Partnership program, which has partners with both small local branches and large national chains.
- She notes that Armed Forces Bank is an originating member of MSEP, starting back in 2010.
- Andia also brings up the Hiring Our Heroes programs.
- Tom discusses a partnership with Military Saves as well, which AFB did a podcast with not too long ago.
Jodi introduces the Military Minute segment of the show, beginning by closing out last episode’s Military Minute.
- Last episode’s Military Minute: What year was Park University founded?
- Answer: 1875
- This week’s Military Minute question: Which insect assisted in the aerodynamics of the F-117 fighter jet?
- Watch for Facebook and Instagram posts about this episode.
- Answer with the correct answer and you plus a charity of your choice can each win $50.
Tom closes the episode by asking listeners to out to www.afbank.com and subscribe to the show, as well as leave a rating and comment on your favorite podcast platform such as Apple Podcasts or Spotify.
Join us to hear how to better navigate your finances, military life, and the crossroads of the two.