USAA Membership

USAA is a financial services company that provides banking, insurance, investments, and more. Its perks include mortgages with competitive rates, credit cards, auto insurance, and a rewards network. It also offers a car-buying service and financial advice for families. Its employees and members are a valuable part of the community. Its employees, retirees, and their family members are also volunteers for nonprofit organizations and provide free financial educational materials to help active military personnel and their families make informed choices about finances.

Eligibility

USAA Membership eligibility is based on military and family status and the individual’s relationship to current or former military members. Generally, members are active or former military with an honorable discharge. Family members may include spouses, children, and grandchildren of military members. USAA also accepts cadets and midshipmen at U.S. service academies, or who are in advanced ROTC or on an ROTC scholarship, and officer candidates within 24 months of commissioning.

However, it is important to note that membership is not passed on horizontally, such as between parents and siblings. It is only passed vertically — from one parent to the next (spouses, then children) and down to grandchildren. USAA has changed its property insurance policy to help members cover the cost of caring for elderly relatives. This change will help military families save money and plan for the future.

Fees

Despite being a member-owned company, USAA is not free. There are fees associated with the different services they offer, but these fees are usually well below those charged by other providers. Their banking service, for instance, has no overdraft fees and no monthly maintenance fee. The bank also does not charge for ATM withdrawals and will refund up to $15 in other banks’ fees each month.

Benefits

Founded in 1922 in San Antonio, USAA is a military-focused financial services company that provides auto insurance, credit cards, retirement services, home solutions, and more. The company is also known for its generous discounts on travel, retail, and insurance products and services. The company offers auto insurance rates that are often lower than those offered by other companies and competitive mortgage rates.

The company’s unique position as a member-owned business allows it to focus on its members and the military community. This model also enables it to keep its costs low and pass the savings on to its customers. USAA offers many perks for its members, including discounts on car rentals, shopping rewards, and home security from ADT.

Another benefit of membership is access to USAA Home Circle, which connects home buyers and sellers with local real estate agents who have experience working with military families. The company also offers a discount on shipping and moving services. USAA also supports the community with their philanthropic efforts. In 2020 alone, they donated $87 million to nonprofit organizations and made a three-year, $50 million commitment to advance racial equality.

Customer Service

USAA offers a full range of financial services to its members. Its insurance policies are less expensive than the national average, and its customer service is accessible 24/7. USAA has a high score from third-party reviewers, and its policies are easy to access online. However, the company receives a lot of complaints on online forums.

Despite these complaints, many customers report that they are satisfied with USAA’s banking and insurance services. Some people experience issues when trying to contact a representative on the phone, but others have no problems at all. The company’s phone-based support system asks users for their USAA or their Social Security number, so it’s important to have this information before calling.

In addition to telephone support, USAA also has brick-and-mortar financial centers near military bases. These centers provide a more personal approach to solving financial problems and offer an alternative to contacting a phone-based representative.