African american soldier using a laptop while deployed in a military base Credit/AdobeStock

When servicemembers are overseas, the government should have their backs. Whether it’s housing or medical care, our servicemembers deserve the highest level of support the U.S. can offer. Unfortunately, a recent NCUA decision leaves our deployed soldiers and their families vulnerable and without basic, decades-long financial protections.

After World War II, the Department of Defense (DoD) established the Overseas Military Banking Program (OMBP), also known as Community Bank, to provide financial services to servicemembers, their families and military commands at 60 overseas military installations. Despite its name, OMBP is not a bank. Rather, it is a DoD program that supports the unique financial needs of the overseas military: Local currency exchange, deposits, loans and cash for commissaries, other financial institutions and military efforts.

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