Get to Know USAA
USAA was founded in 1922, when 25 Army officers met in San Antonio and decided to insure each other’s vehicles, they couldn’t have imagined that their tiny organization would one day serve millions of members and become one of the only fully integrated financial services organizations in America.
The Great Depression
During this tough time of the Untied States, membership grows considerably as the country faces a turbulent decade of financial crisis and natural disasters.
1932 — The first Annual Report to Members is published, highlighting our financial success and commitment to members. 1934 — Membership is expanded to include Foreign Service officers, State Department officials and their widows. Also, Stuart Gwyn is the first woman to join management.
World War II
USAA was there for the members during a time of war and change, and as more women enter the workforce.
1941 — Automatically renewed auto insurance policies for any members outside of the United States, easing the burden of those deployed at war. 1946 — Added several new automated office machines, becoming an industry leader in technology. 1948 — Opened up the membership to Air Force officers after the department was created by the National Security Act of 1947.
The Computer Age
1952 — Opened an office in Frankfurt, Germany, the first location outside of San Antonio. 1956 — Consuelo Kerford becomes the first female officer. 1957 — Automated operations by installing a new IBM punch-card processing machine.
The Vietnam War
Continued to serve the growing membership in a time of unrest — with conflicts abroad and at home.
1961 — Updated the bylaws to reflect a new level of commitment to our members. USAA membership is no longer relinquished when officers resign their commission or leave the service. 1962 — We open an office in London, England. 1969 — Our 1 millionth member joins, Officer Candidate Eugene Butel of Fort Sill, Oklahoma. 1969 — Formed our first disaster response team and send them to the Gulf Coast with a printout of information on members impacted by Hurricane Camille.
The First Email is Sent
In a decade defined by technological growth, political change and inflation, our company ushers in new innovations.
1978 — Opened offices in Tampa, Colorado Springs, and San Diego, as well as a new headquarters in San Antonio. 1978 — Began offering toll-free phone service to members in the continental United States. Prior to this, most of the business was conducted by mail or telegraph.
Opened the USAA Federal Savings Bank as the country rallies through a national recession and stock market crash.
1982 — Provided 22 ROTC scholarships for each branch of the military to support future officers. 1983 — Created the USAA Volunteer Corps to coordinate the employee volunteer efforts in the community.
The Birth of the Internet
As members face another deployment during the Gulf War, we become more accessible through digital growth and the launch of our online site.
1990 — The USAA Educational Foundation is established to help consumers make informed decisions by providing free information on financial management, safety concerns. Also the same year, electronic funds transfer (EFT) is made available to members so they can move money from their bank accounts to pay insurance premiums or purchase mutual funds. 1994 — Formed The USAA Foundation to help strengthen the community and provide opportunities for others to succeed.
The War on Terrorism
We expand our services and eligibility requirements as our membership faces a decade defined by war and uncertainty. 2001 — Provided special deployment assistance to members called to respond to the fight on terrorism. 2006 — Began offering ATM reimbursement for all members. 2006 — Was the first company to let members deposit checks from home, needing only an internet connection and a scanner. 2008 — Eligibility requirements are expanded to include military retirees, regardless of when they retired. After they join, their spouses and children may also be eligible for membership.
2009 — All men and women who are serving or have honorably served in the U.S. military — and their families — become eligible for membership. Also in the same year, USAA became the presenting sponsor of the Army—Navy Football Game. And finally in 2009 — Launched the USAA Mobile App with Deposit@Mobile® capabilities, allowing members to make deposits from their iPhone.
Present Day & Beyond
Continuing to provide cutting-edge technology and new services to support the members with all their financial needs.
2010 — We launch digital tools to help members with home or car buying. Also in that same year, opened financial centers in key locations and partner with hundreds of UPS Stores to offer face-to-face services for members. Debut of the USAA Mobile App for iPad, allowing members to manage their finances or access advice on the go.
2011 — Became the Official Military Appreciation Sponsor of the National Football League. 2015 — Created the Financial Readiness Score, an assessment that helps members financially prepare for the future. 2016 — Was the first bank to offer voice—guided mobile app check deposit for visually-impaired members. And this same reached a Milestone: Proudly serving over 11.9 million members, with a net worth of $29 billion.