USAA is now a sign of the times...

I have been a member for almost 35 years, and with each passing year, I become more disappointed and use fewer and fewer of their services. I can't understand their business model, it's definitely not about current and former military personnel.


I joined as a brand new 2Lt back in 1988. Insured my car, then added on investments a few years later buying my very first mutual funds. Over the years, added a credit card, homeowner's insurance, savings and checking accounts.


Fast forward. My first disappointments with USAA began on my last overseas assignment when I learned the hard way that USAA only waives Foreign Transaction Fees for the first year of your PCS. Then they charge those fees. So I switched to Navy Federal Credit Union. No Foreign Transaction Fees on their credit card. FAIL #1


Then the investment services seemed to constantly churn with subcontractors and "partners" until it was sold off to Schwab. Fortunately, that ended up being a great move and I get far better service from Schwab than I ever did with USAA. Not so much a FAIL for me, rather for their original business model.


I PCS'd last year and bought a house. USAA's subcontractors for surveying homes for insurance continue to use COVID as an excuse to not do their jobs, and I had to do my own home survey with an app. At the premiums I pay, they should have sent someone over with a mask and booties and done their job. I'm paying THEM. And if there's ever a dispute in the future, I'm sure I'll be the first to be blamed for not having done a "complete" survey. FAIL #3


The latest affront was USAA questioning the validity of my Checking account held in a valid Trust for over 10 years. They recently decided I had to revalidate the Trust with them to keep the account open. I had sent all the Trust documentation to open the account, did they lose it? They just closed my account last month and overnighted a check for the balance. After 30 years, not a phone call, not any effort to extend real customer service other than a form letter. No real effort to retain a long-term customer. There's a USAA office right down the road from my new home. I can't waste my time on them anymore. FAIL #4


My wife's working on her insurance licensing, Series 7 and 66. Once she's done and up to speed, I will be confident in dumping what little I still use from USAA. And not too soon. I'd probably get better customer service from the company Shaq hawks! I know I am not the only one that feels this way, I've heard from many a 20+ year member moving to other providers.


Perhaps rather than the advertising spend, USAA could have invested in delivering actual services of value to customers. I really can't see how USAA's business model works anymore, but it will be "working" without me.

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@Loeh20812 Your post is in violation of the Community's Moderation Guidelines. Further posts of this nature will lead to a temporary ban from the USAA Community.

Same issues.  Poor service - from the long hold times to the phone robot to the shaky membership rules - drove me away.  Closed 3x homeowners and 3x car insurance with nary a peep from the corporate tribe that has run this once great company into the ground.  After 32 years of no accidents with USAA, I got rear-ended 1 month after picking up GEICO, and their customer service was simply extraordinary. Outstanding service, not just lip service.  All banking with NFCU now and it is solid as always. Jump out of USAA without fear!

Same here. Moved my stuff to Vanguard several years ago. Had already been banking with NFCU (since 1975) and USAA (since 84-85, but closed everything around 2016). Have been stationed overseas for many years and never had any issues with NFCU support. When my dad passed away overseas last year, NFCU's support reminded me why I'm still with them after all this years. Besides, I can always get someone on the phone after hours. USAA has focused more on their somewhat aggressive commercial propaganda instead of its members. That's a decision that was made by people like Stuart Parker (previous CEO), the current one (who by-the-way has no familiarity with the military community of people who founded USAA), the BOD. Members should not expect any changes in their current business practice. They are one of many organizations that got too big--and lost their focus in the process. Soon it won't be much of a concern of mine--especially if I find a better alternative (and I'm sure there some out there) for my auto/home insurance needs. Good luck.


USAA CSR: No need to escalate.

I've found a lot better banking, credit cards, home and auto insurance since I dumped USAA.

@USAFREOD, it is appreciated that you have taken time to share your thoughts on various areas where you feel USAA has failed. It is difficult to know that in the 33 years of membership, you are not finding the same value as you once did. I will be glad to send your feedback to the appropriate area to review the concerns you have brought to our attention. Your time and feedback are valuable to us. Thank you. ~Suzy

I did receive a few attempts by CSRs to call me and respond to my concerns, but it was clear that they must not have ready my posting and were responding via script.


I work in a SCIF, so calling me during "bankers hours" is a no-go.


I don't understand how explaining USAA internal policies would change my mind. The bottom line is I have been inconvenienced and continually frustrated by the lack of service from USAA. Based upon my investable savings, Schwab has assigned a personal wealth advisor to me at no charge. I have one person I can go to with any questions, and he goes out of his way to reach out when I try something different (like making some tendies on a meme stock...)


At no time did USAA ever offer me compensation for my time or frustration due to their lack of customer service. Only then would I consider remaining a customer. My suspicions have been confirmed.


Not sure what kind of CEO would consider the cost of new customer acquisition worth the loss of long-term customers. Definitely not one that anyone should provide proxy votes to the Board of Directors for retaining. Just saying, voting time is here. Withhold your proxies. Hold the board accountable.

@USAFREOD, we appreciate hearing your feedback and will be sure to send your follow up to the appropriate team. Thank you. - Rhonda 

Holy hollow response!  Perfect metaphor for the current state of affairs at USAA.  Thank you for confirming my own move out, Suzy.