Shopping the Exchange Pays Dividends
MEDIA CONTACT: Chris Ward
MEDIA ADVISORY: 11-037
RELEASE DATE: July 18, 2011
Shopping the Exchange Pays Dividends
DALLAS – The Army & Air Force Exchange Service is paying dividends in more ways than one as troops exercising their benefit by dining at and shopping at Exchange facilities last year generated a dividend of $261.1M. These funds are critical to Army, Air Force, National Guard, Marine Corps and Navy Morale, Welfare and Recreation efforts.
“The Exchange’s dual mission is to provide goods and services at competitively low prices and generate earnings to support MWR programs,” said the Exchange’s Senior Enlisted Advisor Chief Master Sgt. Jeffry Helm. “As a result, the dollars that troops and their families use to shop the Exchange or make a purchase from a catalog generates a healthy return by directly improving quality of life efforts.”
This dual benefit goes far beyond clothes, electronics or consumables. In fact, worldwide purchases made in the past 10 years have provided more than $2.4 billion to military morale, welfare and recreation programs such as Youth Services, post functions and aquatic centers.
Historically, roughly two-thirds of Exchange earnings are paid to quality of life programs. In addition to funding these efforts, Exchange earnings are used to build new stores or renovate existing facilities without expense to the Federal government. Funds to contract these new or replacement facilities also come entirely from sales of merchandise and services.
Exchange support to the military in FY 2010 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 2010 dividend of $261.1 million was distributed as follows:
Army: $158.1M
Air Force: $90.6M
Marines: $11.4M
Navy: $1.0M
TOTAL: $261.1M
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The Army & Air Force Exchange Service is a joint command 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 articles of merchandiseand services and generating non-appropriated fund earnings as a supplemental source of funding for military Family and Morale, Welfare and Recreation (FMWR) 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].