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Generations of Service: USAA 2014 Midyear Update to Members

‎07-22-2014 03:16 PM

Dear USAA Member,

What motivates you? What worries you? What are your personal and financial goals? The answers to those questions are influenced not only by the generation to which you belong but also by your stage of life.


Although USAA members have different financial hurdles and priorities, they have much in common – including a family heritage of service to country and the legacy of USAA membership passed down from generation to generation. In 2014, USAA continues to deliver solutions to help our members of every generation reach their short-term and long-term financial goals.


Starting Out: A Strong Foundation

If you’re one of the 86 million Americans born after 1980, you might be establishing your finances, launching a career and starting a family – and we know that’s a challenge. Millennials, you are the best educated of any generation and also the first to have higher levels of student loan debt and unemployment than your two predecessor generations[i]. And if you’re an active-duty service member, hundreds of thousands like you are making the uncertain transition back to civilian life.


To help you get on firmer financial ground, USAA created an online tools and advice center at Here, you can build your plan to pay off debts, track money, set long-term goals and even start investing. Also, the USAA mobile app is more versatile. You can now change debit-card withdrawal limits, request credit-card line increases, deactivate lost cards and even list your car for sale to other USAA members.


For those of you leaving the military, we extended our suite of military transition tools to mobile devices, and so far this year, our representatives have advised twice the number of transitioning members compared with this time last year. Notably, we are taking advantage of the great talent coming out of the military by making sure at least 30 percent of USAA’s new hires are veterans and military spouses. We know it’s not only about jobs – it’s about careers. So we are sharing what we’ve learned about developing post-military careers with more than 200 other employers.


Midlife: Raising Families, Juggling Financial Priorities

Some of you are in your 30s and 40s, juggling household expenses and car payments, all while looking out for a growing family. Sometimes, these challenges mean more debt. With more people and more possessions to protect, midlife families have to think about the right levels of home, property and life insurance.


Earlier this year, USAA introduced our powerful Debt Manager tool on and mobile to help you create a plan to pay off debt in the right order. To help stretch your dollars, USAA continues to offer highly competitive homeowner and automobile insurance rates, as well as banking without all the fees others might charge. We also want to save you time. Starting next month, making claims on fender benders can be a little less painful. Through our mobile app, you’ll be able to upload photos of the damage and receive estimates back more quickly.


Paring Down, Getting Ready

Many of us are either nearing retirement or figuring out how to make retirement savings last for life. Every day for the next 10 to 15 years, some 10,000 baby boomers will retire. Paring down debt, ramping up retirement savings, coping with lower-than-expected returns on savings and investments, and dealing with rising health care costs are top of mind.


USAA stands ready with advice and retirement planning tools. Members can visit our Retirement Center on or work with our licensed investment professionals to create a plan tailored to your goals. We also want to help as you make important health care decisions. USAA’s Health Care Cost Planner provides recommended coverage choices, helps you get a better handle on costs and lets you discover how you better can help protect you and your family. You can compare Medicare solutions, long-term care, dental and vision plans on USAA’s Health Insurance Marketplace. For those who prefer face-to-face interactions and advice, USAA opened two more financial centers this year in cities with large military communities.

Midyear Report Infographic

Strong to Serve Every Generation

At USAA, we work to keep expenses down and invest prudently for a secure future of serving military families for many years to come. As of June 30, USAA’s net worth – the key indicator of USAA’s ability to meet commitments today and into the future – grew 13 percent year over year to $26 billion. Our industry-leading expense ratios enable USAA to keep rates competitive and service levels high, even as more military families – 10.4 million members and counting – discover the value of USAA. (For more financial detail, please click this link.)  


Whatever your stage of life, we hope you’ll count on USAA to help build a more secure future for you and your family.




Josue (Joe) Robles Jr.

Major General, USA (Ret.)

President and 
Chief Executive Officer


[i] Pew Research, “Millennials in Adulthood,” March 2014





Investments/Insurance: Not FDIC Insured • Not Bank Issued, Guaranteed or Underwritten • May Lose Value


Use of the term “member” or “membership” does not convey any eligibility rights for auto and property insurance products, or legal or ownership rights in USAA. Ownership rights are limited to eligible policyholders of United Services Automobile Association.


Membership and product eligibility and underwriting restrictions apply and are subject to change.



by Peg ‎07-28-2014 09:30 AM

I'm proud to be a USAA client for over 50 years! Congratulations on your growth and communication to members.

by RAK on ‎07-28-2014 09:33 AM - last edited on ‎07-29-2014 07:22 AM by Community Manager

It seems the financial detail link is down; USAA, please check and fix?


Thanks for the heads up, RAK. The link now works. 


by rpark ‎07-28-2014 09:33 AM

With a 100% growth in profit one would think USAA could re-examine their policy of NOT insuring second homes for members in Florida.  Still a real sore spot with me.

by Mrs Martin ‎07-28-2014 09:36 AM
I absolutely love USAA. I will never go back to any other financial institution for anything. USAA knows how to serve!!!
by awohl ‎07-28-2014 09:43 AM

I agree with rpark. The only time I've been annoyed with USAA in 43 years, was when they told me that

they don't insure even primary homes in Florida. Please re-examine this policy. Thanks.

by colsteve726 ‎07-28-2014 09:58 AM

Can't wait for my kids to actively engage in USAA. So proud to be able to pass this great service onto them. 

by Colonel Bart on ‎07-28-2014 10:02 AM - last edited on ‎07-29-2014 07:07 AM by Administrator

I see all of your TV commericals about people who have been members since the 1980's  


How about those of us who have been faithful and loyal since the 1940's


How many five digit (XXXXX) members do you have?  


I still love USAA.  YOu have done a great job for me and my family and my new generation family.




Earl Bartlett  Lt Col USAF (RET)





by RickInTampa ‎07-28-2014 10:05 AM

It certainly would be nice if you reconsidered your decision not to insure primary homes in Florida.....

by Biggestdigger ‎07-28-2014 10:19 AM
Great company. Still have room to improve. Don't understand why I cannot see my mortgage online. Very frustrated with the lack of service in the mortgage department.
by fantomII ‎07-28-2014 10:21 AM

The Florida home owners' exclusion policy needs to be reversed--as a 57-year member, I think this is not fair to those of us who have had minimal claims filed.


Jon Davis

by Topazinator ‎07-28-2014 10:32 AM

Wouldn't writing home owner's insurance in a heavy storm area like most of  the Florida coast involve too much risk for the rest of the USAA membership?

by bristar ‎07-28-2014 10:33 AM
rpark has a good point. USAA also needs to review their manufactured home guidelines. They insured my home just fine until they found out it was a manufactured home. They classified it as a mobile home and refuse to insure anymore. I know there are insurance regulatory restrictions, but perhaps a company this strong could lead the charge towards more consumer-positive changes in the regulations?
by ProudSpiritAnimal ‎07-28-2014 10:33 AM

I've just recently joined USAA, After some of the horror I went through with my other bank and insuranace companies in the past I think I should have done this many years ago. 30 to be exact although technically I've been eligible for many more as my father is also a veteran.


I'm retired due to a disability and am looking forward to receiving the good advice, guidance and financial assistance that USAA has promised.

by BobbyGee ‎07-28-2014 10:49 AM

Great financial institution that can be trusted to get it right, even though a number of massive scew-ups have occured in recent years.  Having my car 'uninsured' when it was insured is the biggest. Getting problems resolved is not easy and requires quite a few hoops to jump through.  But I still love you. 

by Mike66 ‎07-28-2014 11:19 AM

I agree with rpark and richntampa, pulling out of the Florida and South Carolina coastal markets hits a sore spot! USAA is great company but please won't you reconsider your decision not to insure coastal homeowners in these states?

by El Deano ‎07-28-2014 11:24 AM

I'm sure that if USAA insured members homes in Florida, all or our premiums would go up.

We all should have learned not to bet on when the next hurricane will hit Florida.

Thanks USAA.

by 100PLT ‎07-28-2014 11:28 AM

Florida has too many huricanes, odds are against insuring homes!

by 100PLT ‎07-28-2014 11:31 AM

Florida has TOO MANY hurricanes to insure homes. Odds are against it.

by Vincent69 ‎07-28-2014 11:39 AM

30 year member, always the best of service here and abroad.  Every time that I have had to file a claim,

it was easy, quick, and complete in reasonable time.  As far as Home Insurance in FL and Coastal areas, we should not be there.  The risk is too high, the fraudulent claims would be astronomical; and finding

competent contractors is almost impossible.  Even here in DE coastal storms, I have seen homes washed away three times and rebuilt, for what cost to the insurance company and their investors.

by 1stSarge ‎07-28-2014 11:39 AM

Only been a member 4 years but have been satisfied with all they have to offer.  Originally joined for the auto insurance and was advised that while they were a little higher in rates you usually would get a dividend yearly.  After 4 years we have yet to get any dividend.  Just saying

by andyjoep ‎07-28-2014 11:47 AM

USAA told me their banks are under government control. They are privy to information that other home insurance companies are not. It is also not possible to negotiate a debt using a 3rd party with USAA. I had 2 homes in Florida and when I realized I could not insure them using USAA I sold the homes and left the state. That was the only hint I needed to know to figure out the rest. Good luck to those in Florida. I love the state. USAA is solid as well but it is up to us to do our own research on weather and probably a good idea to dig deeper what is on the surface.

by TomR ‎07-28-2014 11:48 AM
Does Texas and Ok. have too many tornadoes to insure homes or CA. too many fires etc.
by ASC ‎07-28-2014 12:00 PM

USAA is a national company, so why all the nit picking on those of us who live in Florida. I'm 4 miles from the ocean, and my homeowner's insurance seems to go up every year, despite never having filed a claim!

Have been with USAA for about 35 years and have no complaint about service; but I don't understand why

those of us who have not had, for instance, auto accidents for years nor homeowner claims for years, do not qualify for some "reduction" in our insurance rates??!!  There is no incentive in these categories.  It needs to be looked at.  I, for one, do NOT think USAA should help replace an oceanfront home in Florida

or any of the Gulf states when taken out by a hurricane.  This is a chance YOU take by deciding to build in that hazard area; and, I'm sorry, but my rates should not go up to replace your beautiful ocean front or ocean view property.  Florida has too many surcharges already; we don't need to watch out rates go UP every darn year.  USAA -- please consider the possibility of rate reductions for those who do not file claims in the auto or homeowner's areas.  Thanks!

by Bobmayfly ‎07-28-2014 12:03 PM

Those of you who say insuring homes in Florida would cost all USAA members more need to look at some facts.  There hasn't been a major storm here in almost ten years.  The state-subsidized insurance company just recently lowered the special fee for hurricane coverage; and the state (the tax payers) subsidizes most home insurance companies against major losses. Oh, and the insurance rates here are some of the highest in the country.  Under the circumstances, I don't understand why USAA doesn't insure here; they would be making money hand over fist!!

by BayviewintheKeys ‎07-28-2014 02:00 PM

Regarding insuring homes in Florida:  Where I live our homes are built to handle hurricanes and floods, unlike homes elsewhere.  I had NO damage during the years 2004 and 2005, when we were subjected to numerous hurricanes and tropical storms.  Our houses are built to stricter building codes, elevated above flood level, and most have shutters or hurricane-proof windows.  We are probably a lower risk category, based on our building code, than just about anywhere else in the US.  No wildfires, floods, earthquakes, tornados, freezes, etc.   When a hurricane approaches, we have plenty of warning in order to batten down the hatches.  In fact, during the past 10 to 12 years we have contributed more than half a billion dollars to the Federal Emergency Management Agency through flood insurance than we have received back in claims.  USAA is doing its members a great disservice by refusing to insure in Florida.

by Hondodaman ‎07-28-2014 02:09 PM

For all you members griping about not covering your Florida property; let's get real here-why should the rest of us members "shoulder the burden" of insuring your hurricane flash flood property ? This is why USAA is doing well, they also don't insure "at risk drivers". Hopefully they are also not insuring people in fire prone forrests via California and West coast. They build houses in a mountain wooded areas using non fire proof building materials then wonder why they can't get insurance at a reasonable price. USAA is in the business of insuring "qualifed" property @ low cost not asking their members to subsidze your follies! No offense here but let's look at the real picture.

by joyciedoodle ‎07-28-2014 02:27 PM

My Father was the 1st member. At that time USAA offered family Medical Ins.which we used. Have used your car insurance. Also, house insurance until you quit insuring FL. residents.This is a wonderful reliable company!!! My family and I are proud to be members.

Joyce C. Treadwell


by geostant ‎07-28-2014 02:29 PM

I have been with USAA for 50 years. My home is in Brevard County, Florida. It is not on the ocean, being about four miles from the coast. It is reasonably new and built to the very tough Miami-Dade County building codes. I am not in a flood prone area but do carry flood insurance. My USAA insurance premiums are over $4,000/year. Yes, I am presently grandfathered in my current home having lived hear for 8 years and have USAA homeowners insurance. As time passes I may want to downsize. USAA tells me that even though I currently have USAA insurance, they will not insure my new home. As a writer mentioned earlier, the building codes in Florida are very good and very substantial homes are built. If flood insurance is suppose to provide coverage for water related damages due to storms, etc., and with USAA already having high deductibles for hurricanes in their basic homeowners policies, and with the already very high premiums that we already pay, why does USAA deny us coverage on our new home when we move? 

by ThomasCSteidel ‎07-28-2014 03:25 PM

As a 45-year member of USAA, I have always found the company to be compassionate, fair, diligent and above board in their dealings with me and my children.  I am certain that USAA uses carefully prepared tables based upon years of actual loss data to determine whether it is economically feasible for them to carry coverage in any given area.  While I sympathize with those in Florida coastal areas, I find I must side with USAA in their reasoned determination.  Those who don't agree always have other options.

by Flgator8 ‎07-28-2014 05:11 PM
I am a 30 year member and 100% happy with USAA, I live in FL and my home is insured by USAA, not sure about all the comments regarding USAA not insuring FL homes.
by Gebe ‎07-28-2014 05:21 PM

Considering the doubling of net profit from last year, from $1 Billion to $2.1 Billion, consideration given to  removing the Foreign Transaction Fee for Visa and MasterCard purchases outside of the US seems a reasonable request.  Especially when so many of your competitors have already done so.


A 50 yr + member

by shellpicker ‎07-28-2014 05:25 PM

Please do not insure homes in Florida,  Since you quir we havent had a hurricane.  Sorry you lost so much money,

by Cosmo457 ‎07-28-2014 06:15 PM
I'm with the folks from FL. I am about to leave USAA after 25 years because they refuse to insure my home in CO and say my umbrella policy will no longer cover me with another company insuring my home. Charge the appropriate premium and issue the policy. USAA has lost its way.
by stretchfletch ‎07-28-2014 07:00 PM

Great Company with efficient and quick service. They have served me and my family for over sixty years, stateside and overseas, and in retirement in Southern California. There are risks to life where ever you may choose to live, be it high rate of auto accidents,fire, flood,hurricane,earthquake, etc. USAA has given my family and now my children, many years of resonable risk cost coverage where ever we have been assigned/stationed, and now as to our good or bad decision as to where to live in retirement  You made the smart/dumb decisions  how you drive and where you live so don't expect USAA to cover all the risk unless you pay for full and complete coverage.

by cecil g ‎07-28-2014 07:00 PM

I have been with USAA for 20+ years. I have checking, savings, insurance, and vehicle loan and credit cards.  To say I have been around the block a few times is a mouthful.  I have given USAA all of my marbles to say, and really enjoy the service.  Several vehicles have been financed here and one was just a phone call for approval.  Service is great 24/7.  Sorry about FL, but everyone makes their own choices of where to live.  My only  request would be to require helmets for motorcycle insurance.  No helmet, no coverage as in seatbelt requirements for other vehicles.  Most military bases already have this requirement on base.


by Fab4182 ‎07-28-2014 07:31 PM
Fix the Fla problem. I expect USAA has the flexibility to do this. If not please explain why not. Our members retire there, Give members a choice and price the option. Then everyone will accept the obvious. I live in Georgia, so I am not directly impacted.
by MelQ ‎07-28-2014 09:40 PM
As a longtime member of USAA (1985), I have always been happy with their insurance service. Happy to see they are strong. An area that has repeatedly frustrated me is their loan department. Over the past 30 years I have applied for various loans-- home, car, debt consolidation. Each time, I have been rejected by USAA. That would be understandable if I had bad credit or were a risk. That is not the case as I have ALWAYS been approved the following day, at Navy federal credit union with rates as low as 1.9% for a new car. I've given up trying to give Usaa my loan business and will ALWAYS give NFCU my financial business. Personal and business, as I open up a new small business.
by Neptbch ‎07-29-2014 06:48 AM

My current residence in FL is covered by USAA, but my son could not get USAA insurance for his FL home.  We carry separate flood and hurricane coverage so that should not  be a factor in basic home insurance.  If Floridians are at risk then equitable restrictions should eliminate AL, LA, TX, GA, SC, NC, VA, NY, NJ (e.g. Sandy) etc. because of hurricanes.  Forest fire threats should also eliminate most western states.  Tornado risks could take another group of states out.  When we see the constant TV advertising for USAA it makes one wonder what our advertising budget is, especially when certain sectors of the country cannot purchase some of the products. As a fifty plus year member at times I wonder if we are just getting to be to large a corporation!

by Hickory ‎07-29-2014 07:00 AM


Mr Robles,


You must not be aware of the broken technology that USAA chooses to use, or you wouldn't have given such glowing reviews of USAA, and all the wonderful ways we as customers can access financial planning tools.


I have been a member of USAA for 29 years.  I will admit that I have had great service until this year.  I am concerned with the technology that USAA has chosen to maintain.  The budget tool was changed a month ago.  The new program is horrible.  My budget categories have been randomly assigned.  For example: my electric bill is now under Misc, instead of housing.  There is a category for debt, where my credit card payment has been assigned, except that now all charges are counted against my spending twice.  I am unable to see what transactions are in each subcategory without seeing everything assigned to the larger category.  I could go on and on.... I am beyond disappointed because I have been using the tool for years and like to keep track of past spending.  I have been told that I will have to zero everything out and start fresh.. Great!  Except that doesn’t help when the program still doesn’t work.  I have called numerous times and am under the impression that I am not the only one upset.  I have no faith in this institution.  If someone can get the bright idea to change the on-line technology to an untested program that can't be fixed....what will be changed (broken) next?  Bill Pay?  Access to Insurance account?

by BryanR ‎07-29-2014 08:23 AM

I am disgusted at the gall USAA has to boast about it's incredibly strong financial performance.  This may sound great on the surface but the reality is it is earned on the backs of their members suffering inexcusable premium increases year after year.  After 5 successive years of 20% annual rate increases I finally had encough and dumped them last year.  There excuse was always the same, "well we had to pay out a lot of claims" as though that is some kind of surprise.  THAT IS YOUR BUSINESS!  In case you haven't noticed, we live in a world with tornadoes, hurricanes, floods, earthquakes and fires - every year.  Some years are worse than others and you use that as an excuse to raise premiums.  But when there are calm years rates NEVER go down.


i was pleasantly surprised to find our how much more coverage I could get for a lot less money from other very reputable firms.  Loyalty does not always pay.  USAA takes advantage of it to the point of driving you away.  For those of you who have been annually bludgeoned by this company, I encourage you to shop around and don't be afraid to drop these money-grubbing jerks. 

by Jeff Barwick ‎07-29-2014 08:33 AM

Financial link still does not work??  Love USAA.

by rohde88 ‎07-29-2014 08:36 AM

How about insuring motorcycles!??


Financial link?

by BlairMac ‎07-29-2014 08:53 AM

I have been a member for over 50 years.  Never had a bad opinion of USAA customer service.  I am,however, upset with management for the following reasons:


1.    There does not appear to be any interest in having 50+ year members on the board or any lower ranked military officers.  It appears to be a ring knocker leadership group.


2.     There is a continued increase in compensation for all executives, rather than a return of increased revenue to members.


3.     The principals that were the basis of USAA being established seem to be set aside so that USAA is more about making money to spend on employee saleries and benefits than giving members lower insurance rates.


4.      In my first 25 years of membership never so any money spent on advertising because there was no need to do so because it was adequately known about though word of mouth by one soldier to another.  I suspect that the costs of advertising reduces the amount of money that could be applied as refunds to members.


Come on USAA lets return to the roots and purposes for which our organization was formed.



by aug1945 ‎07-29-2014 08:53 AM

bad enough not insuring homes of any type in fl, but then you make it worse by not making this clear to all members...i moved to fl ten years ago not knowing about this but also knowing how 'great' you are and thus rightly assuming it would be there only to learn to the contrary upon making application...and then being told to 'keep checking back' as 'we never know when this could change'...not characteristic of a 'great' institution caring about members at all especially as to this day there is still no member-wide publicity ever about excluding just let us stumble over it after the move is experience with the institution says that all is well as long as you do  it all the institution's exception...your way (individual member needs) doesn't count...i still have some accounts there but i make every effort to keep the institution at arms' length as the mantra about knowing what it means to serve is essentially the way: how does any institution go in 12 mos from 1bilion net income to 2.1 ?  i find that unbelievable

by Quincy69 ‎07-29-2014 09:12 AM
I joined USAA on my father's policy at 15 years old. Over 50 years later, I would have it no other way, and almost all of my insurance is USAA. I don't understand the recent advertising blitz, considering it unnecessary, but they must be doing something right to give me such complete peace of mind.
by CSS Scott ‎07-29-2014 09:17 AM

To those who are worried about assuming some risk associated with Florida insurnce for retires and military members, I guess you had better look at why you served  in  the military.  I  assume if a hurrican devistated Florida and the govenor asked for support the fedral governemt would help.  The administration  would not say sorry florida citizens it is too risky or better yet the federal Government should in advancew give Florida back to Spain because it is too risky.  By no means the complete story but an idea for discussion.  Because we live the value of selfless service.

by Singers ‎07-29-2014 09:29 AM
I feel for those in the coastal states but I agree with topazinator about how this would affect the rates of other USAA members.
by jbrownaf ‎07-29-2014 09:31 AM

I have noticed one of your new gadgets tracks the transactions going in or out and gives you an "expected balance." I have tried to tell the gadget to look at my incoming and outgoing transactions but it seems to always bug back to not looking at any of them.


I have no doubt that this feature could prove useful if it was fixed but it just reports my current account balances just like the main page does and is useless at the moment. Are you aware of this or already working on it?

by Chuck_F ‎07-29-2014 09:41 AM

All of the numbers in this newsletter look great (why else would you show them?) but I have to ask: How do you count "products"?  Is each individual insurance policy considered a product?  I have one insurance policy covering two cars; is that one product or two?

by Skin Jock ‎07-29-2014 09:41 AM

We have been members since the 70's...Back then you insured motorhomes. We went years without one and now that we have one you sent us to "your sub contractor".....We insured with another company because "your company" price for the same coverage was 3 times the cost of what the dealer recommended company gave us...Why do you not cover my motor home???  Dr Phil   109-34-51

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