Hi there @See my Future
USAA is member-owned 😊, also called a reciprocal company. It can't issue stock to raise capital.
All companies hold a certain amount of capital.
Subscriber's Accounts enable USAA to share a portion of our earnings with members. USAA must raise capital through other means — primarily strong earnings and continuous oversight of capital needs.
One of the ways USAA manages its capital is through the Subscriber's Account program. USAA holds a portion of capital in each reciprocal member's name in a Subscriber's Account. At the discretion of the USAA Board of Directors, USAA may use these funds to support its mission and goals or distribute it back to members.
These accounts play an important role in the USAA financial structure. They provide capital to satisfy legal and regulatory requirements, support current and future operations, and pay large unexpected losses such as member claims from catastrophes.
The board reviews capital needs annually and determines whether to issue a percentage of the total dollar amount in your individual USAA Subscriber's Account in the form of a distribution.
For more information, see the USAA Bylaws.
I appreciate the opportunity to clarify that USAA is indeed Member-Owned. You are a valued member as well... not "just a customer"
Have a great week!
~ Lori
