USAA


United States Automobile Association (USAA) is a company specializing investing, banking, and insurance to members of the United States military and their families and dependents. As of 2010, the company had 8 million members enjoying its banking, investing and financial planning services, as well as casualty, property, and auto insurance products. In that same year, USAA saw total revenue close to $18 billion.

USAA’s services are offered to enlisted personal and officers, including active duty, retired, National Guard and Reserve as well as candidates in programs such as Academy, ROTC, and OCS/OTS. While some banking services, property and auto insurance are available only to those meeting the military requirement, the company’s investment products and deposit-only banking services are available to anyone.

USAA was founded in 1922 in San Antonio, Texas, where it maintains its current headquarters, when 25 US Army officers pooled their resources in order to offer each other auto insurance. Through the next two decades, despite the Great Depression, the company continues to expand its employees and membership. By 1936, over half of all eligible US military officers were members. In 1952 the company expanded internationally when it began writing policies in Europe, which lead to dramatic membership expansion.
The company formed the USAA Life Company in 1963 and they had nearly three-quarters of a million members by the end of the ‘60s. By the end of the 1970s, the company had nearly $1 billion in assets and in 1983 USAA Federal Savings Bank opened its doors. Today, USAA is a Fortune 500 company which typically ranks among the top for its customer service of all financial service companies including those not catering to non-military members.