Air Force

March 26, 2012

New policy means faster access to emergency funds

Written by: Staff
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The Air Force Aid Society released a new policy that can help some Airmen needing cash for emergencies.

As of March 1 the AFAS Falcon Loan policy allows active-duty Air Force members to borrow up to $750 for emergency needs for authorized purposes. The repayment period will continue to be three to 10 months. The maximum number of Falcon Loans has been increased to four in a career.

The Falcon Loan is a streamlined process for receiving AFAS emergency assistance. The emergency criteria are the same for the Falcon Loan as that of standard AFAS assistance. Falcon Loans are available to active-duty members stationed at an Air Force installation with an AFAS section, where they can apply for this type of loan.

To apply, eligible members complete the Falcon Loan application and submit it to the Airman and Family Readiness Center where it is reviewed by an AFAS representative. Once approved, the loan is provided to the service member in the same way as a standard emergency assistance loan, with the difference being the check may be made payable to the member rather than to the vendor.

Falcon Loans are not free money. With the relaxed loan application process it is hoped that Airmen will feel less threatened to come forward for help. If subsequent help is needed after getting a Falcon Loan, hopefully, Airmen will feel a relationship that draws them back in to the A&FRC to discuss their financial situation and seek assistance.

Dispelling the notion that this is some kind of giveaway program requires all leaders to keep the program in proper perspective and not allow others to distort the purpose of the emergency assistance loan.

AFSA is the official charity of the U.S. Air Force and is in the business of providing emergency assistance, sponsoring education assistance programs and offering an array of base community enhancement programs that improve quality of life for Airmen and their families.

For more information, call A&FRC at (623) 856-6550.

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