About AAFES FCU

AAFES Federal Credit Union was founded in 1967 by employees of the Army Air Force Exchange Service Headquarters in Dallas, Texas as a financial cooperative to help members manage their financial resources.

Today, we are a full service financial institution that exists for one reason ... to serve the financial needs of our members by providing a host of financial products and services. We constantly strive to improve both the quantity and quality of these products and services in order to meet our members' growing needs.

We are proud of our tradition of excellence and reputation of integrity in all that we do.   

AMERICA’S CREDIT UNIONS ARE SECURE AND STRONG

Is my deposit safe at the Credit Union?  The answer is YES.  Over the past several days and weeks this topic has been mentioned many times.  Now, with the Office of Thrift Supervision taking over IndyMac Bank in California, more people are wondering just how safe their deposits are.   “Not one penny of insured savings has ever been lost by a member of a federally insured credit union” according to Deborah Spearing, National Credit Union Administration Insurance Analyst, “In these uncertain economic times, credit union members are looking for a safe, sound place to invest their hard-earned money.  And the credit union is just that place.”

Credit Unions are a safe harbor for consumer savings.  The member deposits at all federally chartered credit unions are insured up to $100,000 by the National Credit Union Share Insurance Fund, an agency of the federal government.  This insurance is backed by the full faith and credit of the United States Government just like the FDIC program for banks.  The NCUSIF also insures certain retirement accounts up to $250,000.  Click here to read the latest NCUA Press Release on share insurance.

Credit Unions, on average, have higher reserves than banks.  And Credit Unions are member owned so they are not pressured into earning high profits for stockholders.  The mortgage crisis has created a lot of doubt in the banking system.  The Credit Union system is strong and financially safe.  Credit Unions do not make a practice of offering high-risk loans.  Credit Unions are not part of the sub-prime mortgage crisis.  Credit Unions are still lending responsibly.

If you have questions about the National Credit Union Share Insurance Fund, check out their web address at www.ncua.gov and click on Share Insurance.

NBC NEWS:   CONSIDER A CU IN SEARCH FOR BANK      Consumers should not rule out credit unions when looking for a place to bank, according to a financial editor appearing on the NBC News show "Sunday Today."
Stephanie Auwerter, editor of Smartmoney.com, discussed the economy, the failure of IndyMac Bank in California, and banking issues during the show.      When Auwerter was asked if consumers are better off with bigger banks as opposed to smaller banks, she responded:  "When you're looking for a bank, don't discount the small guys and your local credit union. You might find that the fees are lower and their interest rates are higher. They may be willing to work a little harder to get your dollars."  (NBC News, Sunday Today, July 20, 2008)