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 $203.3 million.
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 fiscal year 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 fiscal 2011 dividend of $203.3 million was distributed as follows:
- Army: $121.3 million
- Air Force: $68.8 million
- Marines: $12.1 million
- Navy: $1.1 million
- TOTAL: $203.3 million