Andrews Federal has met the needs of military members for decades, and we’re ready to help you and your family with your finances before, during, and after deployment. Below is a list of products and services to help you in your transaction.
Contact the base legal office with questions about your personal situation – including access to your account while you’re gone and the disposition of your assets should the unexpected happen. The legal office can also assist you with:
Andrews Federal Credit Union has served military families for decades, so we understand the issues of a PCS move. We can help with your finances during your move and throughout your life regardless of where you live.
You can remain a member of Andrews Federal no matter where your military career takes you, as well as after your service has ended. It’s easy, too, because with our remote services, you can enjoy all the benefits of membership even if there’s no branch nearby. Here is a list of items to keep in mind before you make that transition.
A move overseas requires more preparation than a domestic move, including updating your will, shipping privately owned vehicles, getting a safe deposit box, and opening necessary Andrews Federal accounts. You should also consider the following when making your move:
Wherever your military service takes you, bring along your Andrews Federal membership. We’re ready to serve you wherever you go.
Andrews Federal Credit Union has been serving members for decades, so we understand the changes you go through when you leave the military.
For an easier transition, take your membership with you wherever you live or work because we have products and services to last a lifetime — within the military or out. Maintain your Andrews Federal accounts during a transition, it’s best to stay with a trusted partner. Our financial services will meet your needs no matter where you live or travel.
Separation pay. The type of separation and conditions under which you leave determine whether you qualify for separation pay. Consider using that money to:
Before you separate and begin your career search, attend a transition workshop at your current duty station to learn about resume preparation, job counseling, interviewing, relocation, and veteran’s benefits. Check with your local Family Readiness Center or Army Community Service Center for information.
You may qualify for the Montgomery GI Bill or other financial aid. Contact your installation’s Education Office, local Department of Veterans Affairs, or www.gibill.va.gov for GI Bill information.
You can also check your state’s financial aid policies: contact college/university financial aid offices or the nearest VA office, or talk to a college counselor to see if you can substitute military training for college credit.
Moving to a new location. Your Relocation Assistance Program (RAP) office can help with your final military move with needs assessment, information on communities worldwide, developing a relocation plan, and workshops for relocation stress. You can transition more smoothly if you take advantage of available resources—RAP, libraries, bookstores, the Internet and chamber of commerce offices.
Andrews Federal is committed to helping you reach your financial goals. That means not only providing the products and services you need to get there, but the tools to help you plan ahead as well. Check out our Financial Tools page for educational articles, e learning courses, a financial blog and more!Our partner, GreenPath Financial Wellness, offers free financial assistance as well as confidential counseling. To learn more about GreenPath’s free financial resources, click through to the topic below. Or call 877-337-3399 to speak with a GreenPath counselor today to get back on the path to financial stability.
Andrews Federal Credit Union offers a variety of services to make your transition to civilian life easier. Once a member of Andrews Federal, you can stay a member for life, even after you leave the service. With our remote-access services, you can enjoy the benefits of membership even if there’s no branch nearby, no matter where you ever live or work.
Take advantage of the following products and services to help manage and grow your money.
Retirement may also mean adjustments in your income.
The military offers three retirement pay plans, based on when you entered active duty. It’s important to understand which plan you qualify for because it can affect your quality of life for years. The Defense Department’s website, Military Compensation, can help you determine your retirement pay.
Knowing how your benefits change after retirement is also critical for a smooth transition to civilian life. Consider these four areas:
Retiring from the military can reduce your quality of life if you’re ill prepared. Establish a new budget to help you adjust to your new lifestyle. After assessing day-to-day spending, create a plan to meet other financial goals, such as your second retirement and college tuition for your children.
Pay off credit cards, cut back unnecessary spending, and consolidate debts to reduce monthly expenses. Keep your finances aligned with your goals: review and adjust your budget every 3 months.
As you prepare to retire, money management may seem overwhelming. The Balance Financial Fitness Plan has Certified Financial Counselors to help you with a money management plan, prioritizing expenses, and an action plan to help you adjust to retirement. To speak with a counselor, call 888.456.2227 Mon.–Thur., 5am–8pm; Fri., 5am–5pm; and Sat., 8am–5pm PT, or email email@example.com. Members outside of the U.S. can call 0.800.187.5305.
Our Online Education Center section has calculators to help you budget, as well as other interactive tools to give you a basic understanding of budgeting, buying a home, buying a car, and using credit wisely.
Arranging your final PCS
Visit the Relocation Assistance Program (RAP) office at your Family Support Center for:
Put the equity in your home to work with one of our home equity loans. Borrow for vacation, a new addition, education, or bill consolidation at a rate that’s typically lower than other consumer loans. And, when you borrow against the equity in your home, the interest you pay may be 100% tax deductible. (Consult your tax advisor regarding the deductibility of interest.)