Page 19 - FCA Diamond Point Sept 2022_Edits

FROM THE FIELD

US Army Financial Management Command

(USAFMCOM) Corner
Army Banking Program serves Soldiers, builds readiness: (Cont’d)

With the right people and talent, the Army Banking Program provides for Army’s banking needs in
coordination with four types of financial institutions.

These include commercial banks and credit unions on installations in the Continental United
States; geographically aligned credit unions on installations outside CONUS; military baking
facilities on OCONUS installations; and foreign banks, particularly in contingency theaters.

CONUS installations: Commercial financial institutions
All banks and credit unions on CONUS Army installations operate under the authority of an
operating agreement and lease. Installation banking liaison officers oversee day-to-day operations
under the oversight of USAFMCOM’s Army banking officer, who provides both policy and technical
guidance.

OCONUS installations: Geographically aligned credit unions
The program also has oversight of all credit unions operating overseas on Army installations.
Where permitted by the status of forces agreements or host-country law, federal credit unions or
federally insured state charter credit unions may operate on overseas Army Installations. These
credit unions generally support all eligible personnel with retail like services to aid with the local
economy requirements and foreign currency needs.

OCONUS installations: Military banking facilities

Currently, the Overseas Military Banking Program has oversight over all of the military banking
facilities. Central to the OMBP is Community Bank, a Department of Defense-owned bank, and its
bank branches are the MBFs.

OMBP is administratively managed by a commercial bank with a DoD-awarded contract. Each
service – the Army, Navy and Air Force – is responsible for funding a portion of the contract.
Currently, the Army funds 52 percent of the program based on overall required services, footprint
and number of locations and facilities required by the Army.

The Army’s active theater operations rely on support provided by MBFs, to include ‘jingle’ runs to
Germany that replenish currency downrange.

Additionally, OMBP supports the exported U.S. dollar economy oversees with nearly a half million
monthly ATM transactions and more than 66,000 deposit accounts.

Supporting retail banking, OMBP provides banking services to military and other authorized
personnel with a strategic focus on financial needs while serving overseas.

And, OMBP also supports DoD operations and disbursing office mission support with deposits for
credit to the U.S. Treasury as well as U.S. and local currency needs, to include limited depository
accounts.

Foreign banks, particularly in contingency theaters
Army banking officers and NCOs have the responsibility to advice commanders on the ground on
the feasibility of host nation banking support.

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