STRATEGIC PARTNERS
March 21, 2002
Net.B@nk recently joined the Armed Forces Financial Network (AFFN) to provide financial services to U.S. military personnel around the world.
Members of Net.B@nk will have access to AFFN's 30,000 ATMs nationwide with no added fees. Net.B@nk specializes in online banking services. NetB@nk is targeting the military because there is a disproportionately higher number of military personnel who are computer literate compared to the general population, said LeRoy Collins Jr., head of AFFN.
D.R. Grimes, CEO of NetB@nk, said that the Internet banking services that will be provided will benefit military personnel "who frequently transfer from one base to another or are deployed on active duty for extended periods of time and would enjoy the stability of keeping the same bank account and having access to it no matter where in the world they may be stationed."
Formed in 1985, AFFN is a non-profit corporation owned by the Association of Military Banks of America and the Defense Credit Union Council. The network formed to provide U.S. military personnel immediate access to their funds through ATM and POS terminals located at or near U.S. military bases.
