Fort Leonard Wood Finance

Fort Leonard Wood, Missouri, hosts a significant financial services operation dedicated to supporting soldiers, families, and civilian employees stationed at the installation. The primary organizations responsible for financial well-being are the Defense Finance and Accounting Service (DFAS) and the Army Community Service (ACS) Financial Readiness Program.

DFAS is the core financial engine for the Department of Defense, and its presence at Fort Leonard Wood ensures accurate and timely pay for active-duty soldiers, reservists, and civilian employees. This includes processing paychecks, managing allotments, handling travel reimbursements, and resolving pay-related inquiries. Soldiers can access DFAS services through designated finance offices on post, where they can speak with trained professionals about specific pay issues. Common questions involve understanding Leave and Earning Statements (LES), updating direct deposit information, and addressing discrepancies in pay.

Beyond routine pay processing, DFAS also plays a crucial role in financial readiness for soldiers preparing to deploy. They provide pre-deployment briefings covering topics such as managing finances while deployed, understanding combat zone tax exclusions, and setting up power of attorney. These briefings aim to minimize financial stress during deployments and ensure that soldiers’ financial affairs are handled efficiently in their absence.

Complementing DFAS’s services is the Army Community Service (ACS) Financial Readiness Program. This program focuses on providing financial education and counseling to empower soldiers and families to make informed financial decisions. Unlike DFAS, which primarily addresses pay-related issues, ACS tackles broader financial challenges such as budgeting, debt management, credit repair, and investment planning.

ACS offers a variety of free resources, including workshops, seminars, and one-on-one counseling sessions. These sessions cover topics like creating a budget, understanding credit scores, reducing debt, saving for retirement, and making informed investment choices. Financial counselors are available to help individuals develop personalized financial plans and address specific concerns.

Furthermore, ACS provides assistance with emergency financial situations. They can connect individuals with resources like Army Emergency Relief (AER), a non-profit organization that provides financial assistance to soldiers and their families in times of need. AER offers interest-free loans and grants to help cover unexpected expenses such as medical bills, vehicle repairs, and emergency travel.

The collaboration between DFAS and ACS creates a comprehensive financial support system at Fort Leonard Wood. DFAS ensures accurate and timely pay, while ACS provides the education and counseling necessary to manage finances effectively. Together, they contribute to the financial stability and well-being of the Fort Leonard Wood community, allowing soldiers to focus on their mission without the burden of financial worries. Soldiers and families are encouraged to utilize these resources to enhance their financial literacy and secure their financial future.