Senior Bonus

Just got an email saying Senior Bonus will be delayed, as it was with Christmas Bonus. It funny how are payments are NEVER delayed. Always right on time.
1 ACCEPTED SOLUTION

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 

 

 

View solution in original post

Please sign-in to reply

8 REPLIES

let hope

My Subscribers Savings Account distibution (Christmas bonus) was credited to my insurance bill as usual on 12/10.  

You have to remember that this is the new USAA.  More for the CEO and advertising but the members are in last place.

51 year member.

USAA is a bank.  Did you expect anything different in services than Bank of America or Chase.

Find your nearest Credit Union.  There you are an owner NOT "just a customer".

 

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 

 

 

Indeed - what changed/happened?  Never really any explanation from USAA.  If its a computer issue, someone should have figured it out by now.  

Seems to very light this year as well. Maybe less advertising and more customer service. Really tired of the performance drop. Been there 45 years. Might as well have joined yesterday
Absolutely. I no longer feel any different than my neighbor who changes insurance companies based on prices every year or two. I get more service from my classic car company which is part of the Corvette museum program. (USAA wanted 3 times the money for much less coverage)