Thank you for your question @R (Ron A). Net proceeds from this transaction will be used to further benefit the membership. For example, USAA will invest appropriately to improve the competitiveness of its banking and insurance products, as well as look to distribute an appropriate amount in the annual member distribution process. Thank you for your membership and for any additional Subscriber Account questions, please reach out to our chat or phone insurance specialists to further assist you. ~Marco
Interesting. USAA will invest the proceeds 'appropriately'??? There is no where in this country to invest appropriately these days. The economy is collapsing if you haven't noticed. 30 million people are out of work. 30% of mortgagees aren't going to pay their mortgage. 30% of renters did not pay their rent in April. I'd say that 'investing' in this great depression will end up being the same as investing in 1929. Not good. Unless you know something i don't know...in which case I would hope you'd share it with me...
I have no inside information but the actions that USAA has taken over the last couple of months are the actions of a company that is under severe financial stress. 1) stealing stimulus checks from the most vunerable among us 2) blowing up your business model of one stop shopping, in return for immediate cash 3) Reducing dramatically, without warning, the credit limits of your credit card customers. 4) Less and less customer service and more and more automation and talking to computers. Makes one go hmmmmmmm. In reality, I don't feel safe here with my money any more.