Troops’ Investment in the Exchange Pays Off for Entire Military Community
MEDIA CONTACT: Chris Ward
MEDIA ADVISORY: 12-064
RELEASE DATE: Oct. 18, 2012
DALLAS – The Army & Air Force Exchange Service is paying dividends in more ways than one as Troops and their families exercising their benefit by dining at and shopping at Exchange facilities last year generated a dividend of $203.3M. These funds are critical to Army, Air Force, National Guard, Marine Corps and Navy morale, welfare and recreation efforts.
“Historically, roughly two-thirds of Exchange earnings are paid to the four Services’ morale, welfare and recreation programs with the other third used to build new stores or renovate existing facilities,” said the Exchange’s Chief of Staff Col. Thomas Ockenfels. “As a result, authorized shoppers are essentially investing in a benefit that generates a healthy return.”
With a mission to provide quality goods and services at competitively low prices and generate earnings to support quality of life efforts, the dual benefit the Exchange provides military families goes far beyond the clothes, electronics and snacks on shelves.
Shoppers who take advantage of their benefit at the Exchange, online at www.shopmyexchange.com or over the phone through the Exchange Catalog actually help make the military community a better place to live and work. In fact, purchases made in the past 10 years have provided more than $2.4 billion to military programs such as Youth Services, post functions, gyms and aquatic centers.
Exchange support to the military in FY 2011 was not limited to Soldiers and Airmen. Because the Exchange operates at Marine and Navy locations, funds were also returned to Marines and Sailors. The FY 2011 dividend of $203.3 million was distributed as follows:
Army: $121.3M
Air Force: $68.8M
Marines: $12.1M
Navy: $1.1M
TOTAL: $203.3M
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The Army & Air Force Exchange Service is a joint non-appropriated fund instrumentality of the Department of Defense and is directed by a Board of Directors which is responsible to the Secretaries of the Army and the Air Force through the Service Chiefs of Staff. The Exchange has the dual mission of providing authorized patrons with quality merchandise and services at competitively low prices and generating non-appropriated fund earnings as a supplemental source of funding for military morale, welfare and recreation programs. To find out more about the Exchange history and mission or to view recent press releases please visit our Web site at http://www.shopmyexchange.com.
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Media Notes:
For more information or to schedule an interview with an Exchange representative please contact Chris Ward, 214-312-2714 or [email protected].