For many years now, banks have successfully pushed for all electronic transactions. How many checks do you write any more? I do one a month. This means that many billions of paper checks are not sorted and routed to all the right banks all over the continent or world. Banks no longer sort and arrange cancled checks and put them into envelopes with statements that had to be printed. Think of all the transactions in everything you do that is no longer done with very much paper. Think of haow many transactions you handle on the computer like moving savings, paying a few bills or having automatic deductions handled by the banks computers. NOT ONE SINGLE PERSON HAS TO TOUCH A THING TO TRANSFERE money from savings to checking or to another bank. You just have to ask, with the banks and pretty much all businesses just keeping the computers running, WHY ARE THEY ALWAYS CHARGING YOU FEES for something. A minor fee for the most part in most cases but it mounts up to a super pile of money when you look at it across the energy. These guys so quick to in effect fine you for making more than six transactions in your savings acccount are really super chewap scapes being so nice to pay you 1% interest on your money that they are sitting on. Had a representative of USAA tell me the other day that I should invest in a CD. Now exactly why should I tie a thousand dollars up in USAA for a year for 1% or, ypou got it, pay a penalty if you bail out early. See if you can get an honest answer about where all those billions in savings have gone. Bankers are not wearing off the rack suits or driving cheap if there is such a thing cars. Someone besides the POTUS got all that money and bankers are happy to give you scraps and tell you what a deal ypou are getting. Bankers are experts at giving you the absolute minimum and keeping much more than the most. ow I know i can't be the only one that has wonderd about this and everyone should be really mad about it. USAA was supposed to be the very best with the best possible for VETERANS. Started out with just Officers and we got a prewty nice subscribes check every year. Now about anyone can join and the subscribers checks are a joke. Love to compare mine to the Well paid board. Just wwhat does the board make. Bet you can't find the actual figures in print on this site. I am looking forward to a financial report for this MEMBER owned company. Hey USAA. Where did the great company go? Oh yea, those billions also. The storms did not eat that up.
http://www.glassdoor.com/Salary/USAA-Salaries-E3033.htm (Cut and paste to your browser if not clickable)
Check that out. Not the whole story and I cannot verify that it is correct but it is something like DIRECTORS phone numbers and email addresses. Not to be found anywhere on the USAA site. Member owned but members are deliberately kept in the dark. A lot of browser searches to find that and used Exporer which the high paid computer specialist are trying to stop you using. Any public company has to make their filings and ALL financial information available to the stock holders and the Government. USAA, a company I would have sworn by since 1968 with a whole lot of family members as USAA members. Everything I and my grown children and X wives have is insured by USAA. I have never in all these years caused an accident nor has my wife yet prices just keep going up.
Between the miniscule subscriber distributions and the total frustration of trying to talk to someone ABOVE the new kid on the desk who is the 4th person to ask for a lot of ID after getting through the impossible automated phone system and 3 other people who could not help untill they had my member number, for the 5th time and where my wife was born and on and on just to tell me they had to transfder the call and the questions started all over again.
I expect the Directors to make very good money but in return I expect an above average insurance company and bank the rest job. The way USAA used to be. I will say the people at USAA are very polite. Just ned to get to the helpful stage in many areas.
GOD BLESS AMERICA - We have been put in a very bad financial situation thest last 6 years and a lot of secrets to come out.