USAA Reports on 2015 Growth, New Services for its Members

Community Manager
Community Manager
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April 18, 2016 – USAA delivered its 2015 annual report to members this week, reporting on financial performance, including 4 percent growth in net worth, as well as new member services like fingerprint logon capability for its mobile app and a Financial Readiness Score tool that helps USAA members better prepare for financial changes. The report covers the results from Stuart Parker’s first year as CEO.

 

“USAA is committed to being a well-run, fiscally strong organization for the benefit of our members,” Parker said. “We’re focused on meeting the needs of our members. USAA’s mission inspires us to help members take financial control of their lives. That’s what we did in 2015.”

 

In the report to members, which launched April 18, USAA reported:

 

  • Returning nearly $1.7 billion to members and customers in distributions, dividends, and bank rebates and rewards — a 6 percent increase over 2014.
  • Net worth of nearly $28 billion.
  • Revenues of $24 billion.
  • Net income of $2.3 billion.
  • USAA asset growth from $130 billion in 2014 to $137 billion by the end of 2015.
  • Membership growth from 10.7 million in 2014 to 11.4 million by the end of 2015.
  • Better-than-industry-average expense ratios in its life insurance company and property-and-casualty business.
  • Highest possible ratings from all three major rating agencies for the property-and-casualty insurance companies.

Nearly 300,000 USAA members used a new digital Financial Readiness Score tool to gauge their financial health and prepare for life’s ups and downs. In 2015 USAA offered its members a way to log on to the USAA app using just their fingerprints. By the end of the year, more than 1 million USAA members registered to use biometric security enhancements, which include using facial or voice authentication. USAA also introduced new mortgage tools that help members get prequalified on mobile devices in as little as five minutes.

 

“We look forward to helping members achieve financial security, no matter what challenges or opportunities they face,” Parker said. “We continue to deliver exceptional experiences that combine innovative solutions with outstanding service. And we will sustain financial strength to fulfill our commitments to members even under the most extreme weather events or volatile market conditions.”

 

About USAA

The USAA family of companies provides insurance, banking, investments, retirement products and advice to 11.4 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.

 

Contact: Roger Wildermuth                                                                                      

roger.wildermuth@usaa.com

916-717-1072

 

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