Frequent Contributor

Amonth has gone by since USAA shamefully closed all of my family's accounts.  Still no apology and still no reason provided for the cancellation of my credit card or the closing of my savings account, checking account and investment accounts.

 

USAA chose to end their business relationship with my family and terminated all of my accounts, my wife's accounts, and even our 6 month old's youth savings account.  No reason given.

 

I am a retired Vet and current US Dept of State employee.  My family and I are posted abroad.  We are curently serving the USG...USAA's actions are shameful. 

 

My wife and I both have 800+ credit scores, have plenty of $ and are never late with payments.  USAA has made a mistake and won't own up to it for fear of being sued.

 

I've urged fellow State Dept employees and members of my reserve unit to pull their $ out of USAA and save / invest elsewhere.  

 

Be warned - USAA can terminate your accounts without warning at anytime - even if you are deployed or serving the USG abroad.  This can saddle you with tax implications and a host of financial problems that you'll have to deal with - this can be especially difficult if you are posted overseas when USAA decides to drop you.

 

Move your hard earned $ out of USAA on your terms, or you may be forced to do it on USAA's terms.

 

Mark Petzolt