When I came out of Afghanistan I didn't expect to hold on for long. To make it easier for my heirs I consolidated all my assets at USAA based on my almost 40 years (at the time) experience with USAA. That was a colossal mistake: one; I've lasted much longer than expected (now a 50+ year member), two; the bloated downhill slide of USAA and three; the betrayal of my trust in USAA as custodian of my hard earned (if meager by management standards) assets. USAA has sold off significant portions of the company with probable large bonuses for management. The members however face an E-blizzard (over 30 pages) of confusion, sometimes contradicting information, that appears to have been written by lawyers, accountants and advertising agencies. It is hard enough to read the information on a computer screen so I pity members with access only on smart phones, (which USAA has been pushing). Struggling through the blizzard without snowshoes it seems that my money is somewhere between FSB, USAA brokerage, Fidelity, NFS, Victory Capital and Schwab. My once simple account is now (or soon will be) scattered among several accounts, complicating money management in a period of market instability. The information provided in the various e-mails is complicated by "links" to more information that has to be scrolled through, discovering it is duplication, marketing and marred with new terms.
It would seem that with 35,000 employees you should be able to find one or two that could boil down all the information into a single easy to follow PDF document that could provide guidance to aging, poor dumb, hillbilly grunts.
It's going to be **** trying to guide my technophobic wife's accounts through the transition when I'm not sure myself.


Thank you for your 50 plus years of USAA membership and allowing us to serve you and your family's financial needs.  I have forwarded your experience to a Subject Matter Expert to help review and address your concerns.  ~Marco

Yes...My brokerage account is now being turfed over to Charles Schawb..fortunately, I already have an account with them so consolidation will be easier....I posted a reply earlier to another member r/t Dropped Auto Insurance....I have No Idea were USAA is headed into the future....Next yr I may move my Home Owners policy to my wife's employment   Auto/Home Insurance carrier MetLife..better rates, better coverage, and much better customer service.



I'm in the same boat, agree that this is going to complicate my life and wish it weren't happening.  With the added irony that I moved all of my investments to USAA sometime in the 90s because I was unhappy with -- Schwab.


I am going to really miss having everything in one place and on one familiar system.  Maybe that goes with being old.



I don't recall ever being asked how we felt about this move to Schwab.  I believe that I was notififed that it WAS going to occur in the near future.  Fortunately, 6 years  I moved all but a small of my portfolio from USAA Management to a local private Financial Advisor in my area who deals soley with the older investors.  USAA told me at the time that I would be returning to USAA within 2 years.  I did not. Now I have a Financial Advisor who works for me (for less money than USAA) and my portfolio has increased steadliy ever since with guaranteed income for the rest of my life and my wifes.  We need not worry now.

USAA had a great Investment Management Program until a few years ago when it expanded the membership.  They now have more than they can handle and the service quality has proceeded downhill.  I think most of our DIRECTORS have done we old timers a disservice.  Now USAA is telling us that they are doing us a real services during this Covid-19 crisis by giving us a 20% credit on two (2) months Auto Insurance Preminum.  For me this will amount to a grand total of $25.12 on my one Automobile, but USAA claims to be giving it's members a $520 million dollar credit!


60 years membership! and not getting any happier about it.


I agree with you guys on their service. Seems like they are more worried about spending our money advertising and not willing to help its customers! If they really wanted to help they would release some of our subscribers account cash. But what do i know. I’ve only been a member for 15ish years and things have gone way downhill.

Concurred with ALL!!!  Almost 5 years now and after comparing cost, I moved all my investment to Vanguard due to zero commissioned, lower expense ratio, better selection of funds/ETFs, better customer services, knowledgeable agents, etc...etc...I am much happier as a DIY investor.  USAA limited investment products cost 3 to 4 times more; just try to compare a simple fund like S&P 500 or Target Date Retirement Funds from USAA with Vanguard, Schwab, Fidelity and/or TD Ameritrade and you will see.  What disappointed me the most is about how USAA is playing radio silent on affected members who are seeking forbearance on mortgage during this COVID-19.  Specifically Nationstar Mortgage LLC a subservicer for USAA, the only option Nationstar Mortgage LLC offers is allowing members to defer their mortgage payment for 90 days and must be paid back ALL at the end of the forbearance period.  If you are struggling with 1, 2, or 3 month of mortgage payment, I am not sure how you can come up with 3 months of mortgage payments plus the 4th month due at the end of the forbearance period.  I sent emailed and asked USAA to do the right thing for members; at the VERY LEAST USAA should take ZERO interest on mortgage payment for at least 180 days.  And I have heard NOTHING back from USAA.

They were changing investment management companies or something like that five years ago and I got a slew of fine print notices.  I saw the writing on the wall and moved everything to Vanguard.   USAA and I must assume Schwab will have much higher fees. 

I miss the USAA or 10 or 20 years ago. 

Agree with everyone. Been with USAA since the mid 80s and seen a lot of changes, not all of them good. I found myself having to lower my expectations as the years went by. It all came to a head about four years ago when I made the big mistake of signing up my daughter (grad student) for an account and credit card only to see them cut it down to a couple hundred dollars. We could never get them to bump it up even by providing additional income information. That was followed by changes in some of their product lines/features. The first thing I did was move her to NFCU because of their generous offers on various products. I had been with them since the 70s and their periodic offers for loans and better banking rates always beat USAA hands down. They actually reward loyalty. I closed all my bank accounts, CDs and credit cards with USAA, because I couldn't rely on them to protect them from unauthorized charges (specifically the CCs). Always had issues using their CC while traveling overseas. Valid charges would rarely go through even after notifying them of my trips. I didn't like how long it took them to post pending charges online so I could verify the validity of those charges. Took me over one hour to close the account after being treated like a kid by some young and ambitious rep. That treatment encouraged me to move investments for me and my wife to Vanguard. That was about three years before USAA decided to sell off their investment business to others. Besides, I didn't like their high cost ratios and my returns over the past 25+yrs were as bad if not worse than what you got by leaving money in a simple checking account. Once, I moved everything to Vanguard, I started seeing much better returns on a consistent basis. The only product I have left with USAA is my auto/homeowners insurance. While their effort to appease members with a premium credit is commendable, it will barely scratch the surface for many including myself. Fortunately, it's something I didn't plan to see anyway. USAA will quickly recover their $520 million and much more in the next 6—12 months through higher premium renewals. I expect to see that increase when my auto/homeowners policies come up for renewal in the next 2-4 weeks. It could provide me with the motivation I need to research other insurance providers. 😉