Opening a Savings Account for my grandchild, who is not a member

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Frequent Contributor
My grandson was born last August, 2014. Of course, he is not a USAA Member. I know the bank said last year that they would no longer offer accounts to non-USAA members. Since I am a member, can I open a savings account in his name? And if I am able to do so, will he then become a USAA member with all benefits, including all banking, financial & insurance products?
Thank you for your response.

4 REPLIES

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Unless the policy has recently changed, the last time I called inquiring about this, anyone with a parent or grandparent that served is eligible for membership
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This is the current eligibility requirements listed on the website.

  • Active, retired and honorably discharged officers and enlisted personnel of the U.S. military
  • Cadets and midshipmen at U.S. service academies, in advanced ROTC or on ROTC scholarship, plus officer candidates within 24 months of commissioning
  • Individuals whose parents have or had USAA auto or property insurance
  • Former USAA members who had auto or property insurance
  • Widows, widowers and un-remarried former spouses of USAA membersSee note 23  who had USAA auto or property insurance while married

Based on this, the parents must have or have had auto or property insurance with USAA.  But I recommend calling USAA to clarify.

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Thank you Kalcee & DXTexas for your replies. My son is a USAA member. However, he was on MY auto insurance as a teenager thru college & he is on my joint checking account (may be on my savings account as well, but I'm not sure). I'm also not sure if he took out auto insurance with USAA on his own after college & I can't find out from USAA. I suppose I could ask him about that, as I would need their Social Security numbers anyway, as I plan to put his name on the account.
I do know that he has his personal Homeowners, Auto & Life insurance with another company & banks elsewhere, as he has strong relationships thru his business insurance needs insuring his business & his employees, as well as the bank meeting his business financial needs. Also, my daughter-in-law has had her personal banking with that bank throughout her life. I Try to get him to come back to USAA, citing the fact that his insurance agent is making dividends & bonuses off of his hefty policies. But he says "It's easier to know that all your business & persona needs are met all with one agent & one bank." That does make since I have to admit.
The above withstanding, I think I'd like to hear from Brian Hartzell on this & get the word straight from his pen.
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Hi Catmom!

Thanks for the question. You can add your grandson in "My Profile"

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Click "Add family Member", you can select grandchid in the drop-down.

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I am double checking with an eligibility specialist to inquire whether you can open an account for your grandchild.

 

Thank you!

Briana