On 07 June 1940, congress passed Commonwealth ACT NR 569 creating Finance Service as a distinct branch of service of the Armed Forces of the Philippines. Simultaneously, on the date of its creation, the Office of the Chief of Finance (OTCF), AFP was also created.
The Office of the Chief of Finance, AFP originally held office in the old general depot building at Numanca, Muelle dela Industria in Binondo, Manila with COL MIGUEL S AGUILAR FS as the first (1st) Chief Finance, AFP moved to Mariveles, Bataan then on 1945 to Camp Olivas, Pampanga. In the following years, the OTCF, AFP occupied the Malacañang Annex Building in Grace Park, Caloocan. Finally on April, 1958, the OTCF found a permanent office at the Technical Services building at Camp General Emilio Aguinaldo, Quezon City.
On 07 May 1973, the positions of Chief Finance Service, AFP and the Chief Finance, AFP was merged and as the result of the merger the activation of the AFP Finance Center (AFPFC) pursuant to General Order Nr 203, General Headquarters, AFP.