Shopping the Exchange Pays $224 Million in Dividends
MEDIA CONTACT: Chris Ward
MEDIA ADVISORY: 13-071
RELEASE DATE: Oct. 17, 2013
DALLAS – The Army & Air Force Exchange Service Board of Directors announced that the Exchange paid a dividend of $224 million in 2012. 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 Services’ morale, welfare and recreation programs with the other third used to build new stores or renovate existing facilities,” said the Exchange’s Senior Enlisted Advisor Chief Master Sgt. Tony Pearson. “This structure means that authorized customers are, essentially, ‘investors.’ Fortunately, thrifty shoppers rediscovering the value the Exchange offers allowed for a healthy return on their investment.”
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.
Customers who shop the Exchange’s brick and mortar stores or online at www.shopmyexchange.com 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 2012 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 2012 dividend of $224 million was distributed as follows:
Army: $127.8M
Air Force: $74.7M
Marines: $18.8M
Navy: $2.7M
TOTAL: $224M
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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].
