Member Service, Financial Strength Headline USAA’s 2017 Report to Members

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SAN ANTONIOUSAA’s approach to financial management on behalf of its members delivered strong results in 2017, according to the organization’s annual Report to Members.

 

Major hurricanes and devastating wildfires impacted millions of USAA members and resulted in a record nearly $2.3 billion in catastrophe claims paid. Despite these disasters, USAA grew its membership, invested in technology to further enhance service, hired talented people, and returned money to its members.

 

“We take our responsibilities to our members very seriously including being there when they need us and managing their association for the future,” said USAA CEO Stuart Parker. “The mission and values that drove USAA’s founding still drive us today.”

 

USAA reported the following financial results for 2017:

  • A net worth of $30.6 billion, up nearly $2 billion for the year.
  • Membership growth of more than four percent, up over 500,000 to 12.4 million members.
  • More than $1.5 billion returned to those we serve in the form of distributions, dividends, and bank rebates and rewards.
  • Almost $2.3 billion paid in catastrophe claims.
  • Annual revenue of $30 billion.
  • Assets over $155 billion.
  • Net income of $2.4 billion.

Beyond the Balance Sheet

USAA’s Report to Members looks beyond the financials to provide a holistic view of the previous year and the future direction of the organization.

When it comes to serving members and protecting their assets and privacy, USAA answered nearly 85 million calls from members, with nine out of 10 saying they were extremely satisfied. And, we prevented almost $3.2 billion in fraud losses.

 

USAA’s employees and retirees continued investing in their communities and lending a hand to their neighbors and fellow Americans in need, to include:

  • Employees and retirees contributed $11 million to charities and nonprofits across the country.
  • Employees volunteered nearly 450,000 hours to causes important to them.
  • USAA, The USAA Foundation Inc. USAA Federal Savings Bank and USAA Real Estate Co. donated $28 million to support military famlies and the communities where its offices are located.

Last year, USAA also made strategic investments in its infrastructure and its people to better serve members in the future.

  • USAA announced the construction of two office buildings in Tampa, Florida, and Plano, Texas. Combined, the new buildings will have space for more than 1,500 people.
  • At its Phoenix campus, USAA announced the hiring of up to 1,000 tech-focused employees by 2020.
  • In San Antonio, USAA Real Estate Co. purchased an office tower across the street from its One Riverwalk location, and USAA announced plans to move up to 2,000 employees to the downtown campus. USAA also pledged to add 1,500 net new jobs in the San Antonio area over the next five years.

 

About USAA The USAA family of companies provides insurance, banking, investments, retirement products and advice to more than 12 million current and former members of the U.S. military and their families. Known for its legendary commitment to its members, USAA is consistently recognized for outstanding service, employee well-being and financial strength. USAA membership is open to all who are serving our nation in the U.S. military or have received a discharge type of Honorable – and their eligible family members. Founded in 1922, USAA is headquartered in San Antonio. For more information about USAA, follow us on Facebook or Twitter (@USAA), or visit usaa.com.

 

The USAA Foundation, Inc., a nonprofit organization, supports organizations that provide services in the areas of education, health and human services, arts and culture, and civic and economic development primarily in the communities where USAA employees live and work. The USAA Foundation, Inc., does not endorse or promote any commercial supplier, products or services. USAA is the sponsor of The USAA Foundation.

 

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