Benefits | Banking

Various banking services, options, loans and accounts abound for not only the men and women in the military, but their family members as well. Who can take advantage of military banking services? Plenty! Those persons include:

• Active duty personnel
• Those in the National Guard or Reserve
• ROTC college students
• Veterans of honorably discharged status
• New military enlistees

An added benefit of military banking is the Servicemembers Civil Relief Act. This Act, called the SCRA, becomes effective once an Army Reserve or National Guard member is called to duty and on active status. Part of this law dictates that companies must lower their interest rates to six percent on credit card debt, reduce monthly interest rates for mortgages, protect families in the event an eviction occurs and rent is less than or up to $1,200 a month, and put a hold on any court activities (divorce, foreclosure or bankruptcy).

Those in the military can have access to a complete spectrum of services. Not only are you open to checking and savings accounts like other civilians, you also are open to the following:

• Home insurance
• Various loans
• Mortgages
• Secure online banking
• Investment accounts and services
• Direct deposit capabilities
• Online bill pay
• Bank check cards
• Military credit card with special rates
• Overdraft protection

Banks often offer special rates, services and deals to their military customers. They know you served the country; and that now is their chance to serve you. You can get a loan on an automobile, a home equity loan or line or credit, or something else altogether. Some banking loans available to those in the military can include the following great and hassle-free benefits:

• Payment options with flexibility
• Loan pre-approval availability
• Possible 100 percent financing terms
• No application fees
• No cancellation fees

Check with national as well as local banks to compare banking options available for you. You deserve a bank that will treat you right and acknowledge your time served in the military and nothing less!