USAA has committed $20 million to nearly 50 nonprofit organizations as part of its three-year, $50 million commitment made in late 2020 to advance diversity, equity and inclusion. The nonprofit organizations receiving this latest round of funding will be focused on amplifying the collaborative need to build diverse talent pipelines through education and employment programs.
“Over the past three years, we’ve had the opportunity to support nearly 70 nonprofit organizations in local communities and nationally,” said Lindsey O’Neill, USAA Chief Communications and Corporate Responsibility Officer. “Each of these nonprofits is doing incredible work by providing underserved individuals opportunities to achieve educational and employment success to help build solid financial futures.”
In late 2020, USAA responded to the uptick in racial injustices with a more defined commitment to advance diversity, equity and inclusion by focusing on its employees, members and the community.
“USAA has been on a journey to reimagine and revitalize its efforts to build and sustain a diverse, equitable and inclusive workplace,” said Tara Leweling, Chief Diversity and Sustainability Officer at USAA. “We aim for our workplace to reflect the diversity of the members we serve and believe strongly in providing opportunities to our members and communities through our products, services, community involvement and corporate citizenship.”
The three-year, $50 million philanthropic commitment provides intentional support of advancing economic mobility by closing gaps across education, employment and entrepreneurship, ultimately reducing the wealth-building gap. Nonprofit organizations who have received funding through the multi-year commitment are committed to delivering:
- Education-Focused Nonprofits
- 5,000 internships or fellowship opportunities for underrepresented student populations and veterans by the end of the 2022-2023 school year.
- 2,000 scholarships to underrepresented student populations in high-demand STEM fields for at least two semesters by the end of the 2022-2023 school year.
- Professional development, tutoring and mentoring programs aimed at improving academics and attendance for 60,000 Black and Hispanic students by the end of the 2022-2023 school year.
- Employment-Focused Nonprofits
- More than 1,500 military/veteran and spouse career readiness mentors by December 2023.
- Knowledge and expertise for 3,000 underrepresented and veteran-owned small businesses through technical assistance and mentorship by the end of 2023.
- Support for 10,000 historically underrepresented civilians and veterans who enroll in upskill or reskill programs and complete at least a post-secondary credential in STEM fields by December 2023.
- Entrepreneurship-Focused Nonprofits
- Support for 110,000 one-on-one financial counseling or coaching sessions for veterans and others from underserved communities by December 2023.
The initial two years of the philanthropic initiative have positively impacted more than 400,000 lives and the third year will be tracked to assess further impacts on communities. Specific nonprofit results include:
- Alamo Colleges (San Antonio): In 2020, USAA’s funding provided 1,010 scholarships to AlamoPROMISE students, totaling nearly $1.6 million. In addition, over a two-year period, more than 548 students received $184,000 in emergency aid.
- GreenPath Financial Wellness (National Financial Health Equity Initiative): Building on a 2020 grant piloted in Bexar County reaching more than 97,000 Black and Hispanic residents, 2021 funding expanded the Bexar County pilot to a national program and has reached more than 158,000 individuals across the country and provided Black, Hispanic and Indigenous military families and veterans with financial counseling and coaching sessions. More than 700 of these individuals have already reduced their debt by 20%.
- LiftFund: Focused on support to transitioning service members, veterans and their spouses, USAA’s funding has focused on access to capital, technical assistance and financial education to more than 900 small businesses. In 2022, funding provided the creation of a Veteran Dream Makers Fund, a permanent revolving loan fund to uplift and support small businesses owned by veterans and veteran spouses.
“LiftFund is proud to work with USAA,” said Janie Barrera, founder of LiftFund. “With their generous support, we have been able to deploy $7 million in low-cost capital to hundreds of veteran-owned small businesses, helping to level the financial playing field for those who have historically been denied access to capital. We are privileged to have USAA work with us towards achieiving our mission.”
USAA DEI Commitment Grant Recipients (2020-2023)
- Alamo Colleges Foundation
- American Corporate Partners
- American Indian Science and Engineering Society (AISES)
- Asian Pacific Islander American (APIA) Scholars
- Arizona Community Foundation
- Arizona Technology Council Foundation
- Big Brothers Big Sisters Lone Star
- Blue Star Families
- Boys and Girls Club of the Pikes Peak Region
- Bunker Labs
- Camino Community Development Corporation Inc
- Chicanos Por La Causa
- Communities In Schools of San Antonio
- Community Tampa Bay
- Corporation to Develop Communities of Tampa, Inc.
- Dallas Education Foundation
- Educating Children of Color
- Family Service Association
- Generation USA
- Goodwill Industries International
- GreenPath, Inc.
- Harmony Community Development Corporation
- Harrison School District Foundation
- Hispanic Association of College & Universities
- Human Rights Campaign
- Institute for Veterans and Military Families (IVMF)
- Johnson C. University Inc.
- Life Skills Fore the Youth of Colorado Springs
- LiftFund, Inc.
- Local Initiatives Support Corporation (LISC)
- Mission Road Development Center
- Money Management International
- Mt Carmel Veterans Service Center
- National Association For Latino Community Asset Builders (NALCAB)
- National Black MBA Association (NBMBAA)
- National Diversity Council
- National Society of Black Engineers (NSBE)
- New Pathways for Youth
- Norfolk State University
- On the Road Lending
- Up Partnership (P16Plus Council of Greater Bexar County Foundation, Inc.)
- Paul Quinn College
- Project Quest, Inc.
- SA 2020
- San Antonio Boys and Girls Club
- San Antonio Digital Connects
- San Antonio Education Partnership
- San Antonio Lighthouse for the Blind
- greater:SATX and SA Works (SA Talent, Inc.)
- San Antonio Independent School District Foundation
- St. Mary's University
- Tampa Metropolitan Area YMCA
- Texas A&M San Antonio
- The ARC
- The Executive Leadership Council
- University of Texas at San Antonio (The University of Texas Foundation)
- United Way of South Hampton Roads
- University Area Community Development Corporation
- University of South Florida Foundation
- Urban Promise Charlotte
- United States Hispanic Chamber of Commerce
- Year Up
Founded in 1922 by a group of military officers, USAA is among the leading providers of insurance, banking and investment and retirement solutions to more than 13 million members of the U.S. military, veterans who have honorably served and their families. Headquartered in San Antonio, USAA has offices in seven U.S. cities and three overseas locations and employs approximately 38,000 people worldwide. Each year, the company contributes to national and local nonprofits in support of military families and communities where employees live and work. For more information about USAA, follow us on Facebook or Twitter (@USAA), or visit usaa.com.