Shopping the Exchange Pays $208 Million in Dividends
DALLAS – The Army & Air Force Exchange Service announced it paid a dividend of $208 million in 2013 to morale, welfare and recreation efforts for the Army, Air Force, Marine Corps and Navy. Over the past 10 years, the Exchange has provided more than $2.4 billion in dividends to military programs.
“Roughly two-thirds of Exchange earnings are paid to the Services’ morale, welfare and recreation programs, while the other third is used to build new stores or renovate facilities,” said Exchange Senior Enlisted Advisor Chief Master Sgt. Tony Pearson. “For example, in 2013 we built new main stores at Fort Belvoir and Kirtland Air Force Base. The Exchange also constructed new Expresses at Fort Wainwright, Edwards Air Force Base and Fort Bliss and six other locations around the world last year.”
Exchange support to the military goes beyond Soldiers and Airmen. Because the Exchange operates at Marine and Navy locations, funds are also returned to Marines and Sailors. The FY 2013 dividend of $208 million was distributed as follows:
Army: $116.5M
Air Force: $ 69.4M
Marines: $ 19.2M
Navy: $ 3.2M
Total: $208.3M
The Exchange’s mission of providing quality goods and services at competitively low prices while generating earnings to support quality-of-life efforts means that the Exchange benefit is more than finding a good price on merchandise. This structure ensures that shoppers who take advantage of their Exchange benefit at brick-and-mortar stores or online at www.shopmyexchange.com are working to better their communities.
“When customers shop and dine at the Exchange, they are investing in their own community, making it a better place to live and work,” Ockenfels said. “100 percent of Exchange earnings serve Soldiers, Airmen and their families.”
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The Army & Air Force Exchange Service is a joint nonappropriated 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 Julie Mitchell, 214-312-3327 or [email protected].
