'EagleCash' Helps OIF-Deployed Troops Manage Money

By Gerry J. Gilmore
American Forces Press Service

July 24, 2007 - Thousands of servicemembers deployed overseas in support of Operation Iraqi Freedom have found it easy and convenient to use "EagleCash" cards when making financial transactions, officials said. Also known as stored-value cards, EagleCash cards are issued at no charge to servicemembers before deployment for use at overseas military exchange stores, postal facilities and vendor concessions, officials said. The cards are electronically-linked to users' stateside banking accounts.

"The EagleCash card is better than cash," Army Col. Stephen J. Riviere, commander of the 13th Finance Group, said in a recent news release. The Army is encouraging Middle East-deployed soldiers to use EagleCash, since use of the card precludes their not having to wait in long lines to cash their paper paychecks.

EagleCash recently celebrated its one-year anniversary in the Operation Iraqi Freedom theater-of-operations. More than 300,000 EagleCash transactions have been made in the past 12 months.

EagleCash is a cooperative effort between the U.S. Army's Finance Command and the U.S. Department of the Treasury's financial management service. Officials said use of the cards reduces the amount of U.S. currency in circulation overseas and also cuts the number of military financial specialists deployed in theater. This frees up servicemembers for other duties.

Card users can access specially-equipped kiosks to check their balances, transfer funds or access cash.

There are now more than 100 EagleCash kiosks and 1,200 sales transaction points across Multinational Corps Iraq's area-of-operations, Army Lt. Gen. Raymond T. Odierno stated in a recent announcement to MNC-I troops.

Odierno requested that servicemembers, government civilians and contractors assigned to his command who use Army finance office services obtain EagleCash cards by August 1.

Thanks to EagleCash, "the military finance office is no longer the only location where individuals can access their funds to meet their financial needs," Odierno said.

"I ask leaders at every level to ensure our servicemembers and civilians are properly educated on all the benefits and capabilities of the EagleCash SVC program," he said.