<p>I’m new to this place and this is my first post. I have a few questions.<br>
What are the pros and cons of the Air Academy Federal Credit Union vs the Armed Forces Bank? </p>
<p>2) Are there any financial investment services offered at USAFA?</p>
<p>3) What is the Instructions to Appointees booklet refering to when it talks about “Share Draft Accounts”?</p>
<p>4) Is there any way that I can contact the Cross Country and Track coaches before I arrive at USAFA? Does anyone know how hard it is to get onto those teams?</p>
<p>The armed forces bank appears to have more fees (like for an ATM card if you don't have multiple accounts) and for other things but I suggest checking out their websites. I can tell you that the credit union is owned by the depositers (not that that really matters too much) and is insured by the National Credit Union Administration. That entity, versus the FDIC, provides a full faith guarantee from the US govt. so it's just as good as the FDIC (which insures the AFB). </p>
<p>A share draft account is the credit unions version of a checking account. "share drafts" are actually checks. Remember in a credit uion you are the owner so you don't get interest, you get dividends on your share draft account. There is no practical difference (both are taxed as ordinary income for you :( ) and it looks, smells and tastes like a checking account. It's an old fashioned terms meant to connote ownership vs a checking account which technically grants you certain rights as a depositor but not ownership.</p>
<p>Many also use USAA, Checking is free and the rebate $20 amonth in ATM fees. Web bill paying is free. The debit card offers a rebate and small amount of interest on deposits. They even provide free postage for deposits.</p>
<p>Also I believe that cadet car loans are offered through them. </p>
<p>The offer car and HHG insurance. For $6 a month they insure your stuff. </p>
<p>It is bank that you keep after you graduate. They really understand military issues.</p>
<p>Up until last year I used Air Academy Bank as they have more than 1 ATM in the cadet area (meaning no fees) and they have an office in the cadet area too. Last year after getting my cadet loan I switched to USAA as direct deposit into one of their accounts was a requirement for the loan. They do offer tons of other things besides banking and one thing I really like is that any ATM fees end up being refunded by them. I don't have first-hand experience with any of the others.</p>
<p>Regarding the boots, I'll let one of your future classmates answer that since I am unaware of what kind your class is getting.</p>
<p>Thanks for the advice. I'm thinking I'll go with USAA. Anyone know how to contact the athletic coaches? UNcynical...that's a good name. I hear that the majority of USAFA cadets are pretty cynical about the place. Obviously I haven't had the Academy experience yet, but I am cautiously optimistic that it will be a good one for me.</p>
<p>Unless it's changed, I don't think they give you the option of USAA in BCT - but you can always switch later if you want to.</p>
<p>As for my name, honestly, this place is what you make of it. There's good and there's bad, but after nearly four years here I can defintiely say it's worth it and would not have wanted to go anywhere else. Contrary to what some people say, cynicism is a choice. Not being cynical does make things seem a whole lot better. :)</p>
<p>The Instructions to Appointees booklet says "Cadets can select any financial institution to recieve their cadet pay by direct deposit. Cadets...must submit a completed direct deposit sign-up form to Finance prior to in-processing." </p>
<p>I think that means it's changed. Maybe I'll contact my ALO or the Cadet Pay office just to be sure.</p>