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History of USARV Finance

The United States Army Republic of Vietnam (USARV) Finance unit was established to provide comprehensive financial support and services for U.S. Army personnel and operations in Vietnam during the Vietnam War. Activated in 1966 under USARV headquarters, the unit was responsible for payroll, disbursement of funds, currency exchange, and financial management for both soldiers and military operations. USARV Finance played a crucial logistical role, ensuring timely payment and supporting the economic stability of U.S. forces during a complex and rapidly changing conflict. The unit continued its operations until the drawdown of U.S. forces, ceasing activities as the United States completed its withdrawal from Vietnam in 1973.

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ABOUT USARV Finance

  • Establishment: USARV Finance (United States Army, Vietnam Finance Section) was established to provide financial services for all Army personnel serving in Vietnam, handling everything from payroll to currency exchange.
  • Key Role in Payroll: At its peak, USARV Finance processed the pay for over 400,000 American soldiers and civilian employees in Vietnam, ensuring troops were paid accurately and on time.
  • Currency Exchange Operations: USARV Finance managed massive currency exchange operations, converting U.S. dollars to Military Payment Certificates (MPCs) to prevent black market activities.
  • MPC Exchanges: The unit orchestrated surprise "C-day" (Conversion Day) events, where all MPCs in circulation were swapped for new series to thwart black marketeers and enemy agents.
  • Combat Zone Payroll: Finance teams sometimes traveled by helicopter or convoy to remote firebases and forward operating bases to deliver payroll, often under hostile conditions.
  • Banking Services: Besides payroll, USARV Finance provided check cashing, savings deposit programs, and money orders so soldiers could send money home safely.
  • Financial Counseling: The unit also offered financial counseling, helping soldiers manage their pay, avoid scams, and plan for their financial futures post-service.
  • Innovative Technology: USARV Finance was one of the first military finance units to use IBM punch card systems and early computers to streamline payroll and accounting in a combat zone.
  • Women in Finance: The unit included members of the Women’s Army Corps (WACs), who served in critical administrative and finance roles.
  • Legacy: After the Vietnam War, the experiences and innovations of USARV Finance influenced how military finance operations are conducted in subsequent conflicts, emphasizing mobility, security, and technology.

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