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IMMEDIATE RELEASE

Release No: 622-96
November 04, 1996

DEPARTMENT ANNOUNCES NEW COMMUNITY BANKING PROGRAM

The Department of Defense today announced a change in procedures for its Overseas Military Banking Program.

The Department of Defense has made arrangements to use unique DoD identification numbers on checks and automated teller machine cards, instead of checks and ATM cards provided by the contractor for the banking program. Overseas customers will soon receive checks and ATM cards bearing the name of the DoD Overseas Military Banking Program Community Bank. This new arrangement stabilizes banking services for the customers and eliminates the need to change payroll information and reissue checks and automated teller machine cards each time a new contractor is selected for the program.

The Office of the Under Secretary of Defense (Comptroller) administers the Overseas Military Banking Program which provides banking and other financial services for Department of Defense personnel and their families assigned outside the United States. NationsBank of San Antonio, Texas currently operates the banking program for the Department of Defense and will continue to provide services for the Community Bank concept.

The new Community Bank accounts can be used throughout the system. With these new arrangements, Department of Defense personnel will be able to conduct banking business more readily at any one of the 118 overseas banking facilities located in Germany, Holland, the United Kingdom, Iceland, Panama, Korea, Diego Garcia and Japan, including Okinawa.

New Community Bank checks and automated teller machine cards are expected to be issued to customers in Germany, the United Kingdom, Iceland and Holland during November. Customers should continue using their old checks and ATM cards until they receive new ones. Customers in the remaining locations will receive checks and ATM cards at a later date.

These banking changes are expected to result in a more efficient and cost effective operation, while maintaining a high standard of quality and providing a significant benefit to American military personnel and their families stationed overseas.

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