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USAA Federal Savings Bank

USAA Federal Savings Bank

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USAA Federal Savings Bank

History, Work Environment, Services and Educational Foundation












USAA History

USAA was founded in 1922 by a group of U.S. Army officers to self-insure each other when they were unable to secure auto insurance due to the perception that they were a high-risk group. USAA has since expanded to serve officers, NCOs, enlisted, and their families with property & casualty insurance, banking, life insurance, investment and financial planning products and services.

The organization was originally called the United States Army Automobile Association. In 1924, the name was changed to United Services Automobile Association, when members of other military services became eligible for membership. The company opened offices in Frankfurt, Germany and London, England, early in its history.


USAA Federal Savings Bank is promoted to be one of the most satisfing work environments in the country!


USAA was one of the pioneers of direct marketing and most of its business is conducted over the Internet or telephone using employees instead of agents. Until the 1960s the bulk of its business was conducted via mail. In the late 1960s USAA began a transition from mail to phone based sales and service. A toll-free number was launched in 1978, and Internet sales and service was launched in 1999 via USAA.COM.

The organization started offering homeowner’s and life insurance in the 1960s, and brokerage and banking services in the 1980s.In 1996, eligibility was extended to enlisted personnel.



USAA is headquartered in San Antonio, Texas, occupying 286 acres (a former horse farm) with one of the largest single-occupancy buildings in the United States, rivaling the Sears Tower and The Pentagon.



USAA Federal Savings Bank Lines of Business

Banking services and credit cards are provided by the USAA Federal Savings Bank. The bank was established on December 30, 1983. According to the FDIC, as of September 2008, the bank held over $27.5 billion in deposits with more than 3.8 million accounts. The bank has only one physical location in San Antonio, Texas. Services can be accessed in person, by mail, by phone, or through the internet.


USAA Federal Savings Banking

The bank provides the ability to deposit checks from home (remote deposit), ATM fee rebates, free standard checks for the life of the account, free online bill pay, and bank-by-mail services. USAA was one of the few major banks to begin offering American Express cards in 2006 in addition to their traditional offering of Mastercard.


USAA Federal Savings Bank – Investing and financial planning

USAA provides a limited discount brokerage service and a family of no-load mutual funds. Mutual funds established by other companies can also be purchased and held in USAA investing accounts. USAA also offers limited free Financial Planning advice, as well as a more thorough flat-fee or hourly-rate financial planning service.


USAA Property, Casualty, and Life Insurance

USAA offers a wide range of personal property and casualty (P&C) insurance including automobile insurance, homeowner insurance, renters insurance, and valuable personal property insurance. In addition to P&C insurance, USAA provides whole life insurance, term life insurance, and annuities. USAA’s life insurance policies, while not completely unique in the industry, are different than most offerings since they do not include a war-exclusion clause (also known as a “war clause”).



USAA Supports the San Antonio Spurs and Many Youth Organizations in San Antonio.


The USAA Educational Foundation

The USAA Educational Foundation (the “Foundation”) is a nonprofit organization sponsored by USAA. The mission of the Foundation is to help individuals make informed decisions by providing information on financial management, safety concerns, and significant life events. Its publications are available to the general public free of charge. The Foundation does not endorse or promote any commercial supplier, product or service.



USAA Federal Savings Bank also supports the educational advancements of their employees.


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Thank you for Visiting USAA Federal Savings Bank


Comments ( 2 )
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Tylene
Comment By: Tylene
Votes:0Good   Poor
Date: Mar 19, 2009 10:07:11
Nice site, lots of good information here!
yavanna
Comment By: yavanna
Votes:0Good   Poor
Date: Jan 25, 2009 23:58:43
Hope you enjoyed the site! Visit the Soda Shop, Thanks  
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