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Contributor

Where oh where have the $2 BILLION proceeds for the sale of Mutual fund enterprise and Brokerage enterprise gone.  I have asked a few times after waiting.  The last of the brokerage accounts will transfer in 13 days.  About the only official notice of these VAST proceeds is a note at the bottom of the 2019 Financial report that $280 million was added to dividends.  FAR Short.

2 REPLIES

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@Abacus Repair, thank you for voicing your concerns. Net proceeds from these transactions 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. ~DC

Rest assured that part of it will go to Mr. Peacock's $5,000,000.00/year salary and his 20-25% raise I am sure he will receive this year.  Think about this when you get your next semi-annual auto insurance premium increase.