Search
 

On Site Coverage: Tight Military Budget Fueled AAFES/JPMorgan Chase Deal

SAN DIEGO, Calif. -- The Army and Air Force Exchange Service partnership with JPMorgan Chase to offer a co-branded MasterCard was driven by military budget shortfalls, said Michael A. Bilbrey, senior accounting officer in the Pentagon's financial management office.

By Heather Anderson | Updated on July 09, 2008

SAN DIEGO, Calif. — The Army and Air Force Exchange Service partnership with JPMorgan Chase to offer a co-branded MasterCard was driven by military budget shortfalls, said Michael A. Bilbrey, senior accounting officer in the Pentagon’s financial management office. Bilbrey addressed an audience of about 50 Defense Credit Union Summit attendees this morning, presented as part of NAFCU’s 41st Annual Conference and Exhibition.

“Reduced funding is a driving factor in the military’s willingness to enter into these agreements,” Bilbrey said. “A portion of the fees go back to the military, and it will pay for recreation and other services. To the military, this solves some bottom line concerns and enhances life for our enlisted men and women.”

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.