I am a 53 year member of USAA. I have sung the praises of USAA for most of those 53 years. I have always understood that the ownereship of USAA was very unique in that it was set up to be owned by and serve its members. That is what made USAA special. What has happened? By all accounts, with the number of concerns voiced on this community bulletin board, USAA no longs serves the best interest of its members. We are struggleing to get the service that we expect and have experienced during many years of membership.
The questions are: Who owns USAA? What is the mission of USAA? What expectation should members have of USAA? And why aren't we being communicated with? It is sad when the very people that USAA was designed to serve are ignored. Currently, I am seeing many advertisements for USAA on TV. Why is it necessary for USAA to spend members equity on advertising when it makes no effort to serve the interests of its members?
This is all very frustrating. We need a straight answer from USAA so we, as members, can get on with making decisions about who is going to be our financial services provider of choice. Right now USAA is making no apparent effort to vie for my continued membership.
I really want USAA to succeed, but time is running short as far as I am concerned.
You must understand that USAA changed it's main objectives. USAA's main objectives now are to enrich it's CEO and upper management and instill their political beliefs onto USAA. What has been intentionally done to USAA is a disgrace.
Wayne Peacock, the new CEO, has a compensation package of around $5 million a year. He makes up for the guilt he feels for being so wealthy and privileged by using the company, and prestige of USAA members, to make himself appear woke and hip in his circle of similar elites. It's great being obscenely wealthy, all the power to him, but in his mind even better than being in the top 0.1% is to be wealthy beyond comprehension and lauded as a social justice warrior. He's not alone among the privileged- this mentality seems quite common these days. Sadly, the Board is too spineless to keep him from destroying the honor and integrity of USAA and/or it's financially worth their while to allow him to do so.