This article contains content that is written like an advertisement. USAA was founded in 1922 in San Antonio, Texas, by a group of 25 U. Army officers as a mechanism for mutual self-usaa investments mutual funds when they were unable to secure auto insurance because of the perception that they, as military officers, were a high-risk group.
The organization was originally called the United States Army Automobile Association. In 1924, the name was changed to United Services Automobile Association, when commissioned officers of other U. Internet or telephone using employees instead of agents. Until the 1960s the bulk of its business was conducted via mail. In the late 1960s, USAA began a transition from mail to phone-based sales and service. A toll-free number was launched in 1978, and Internet sales and service were launched in 1999 via its website. The organization started offering homeowner’s and life insurance in the 1960s, and brokerage and investment management services in the 1970s, and banking services in the 1980s.
USAA offered restricted membership to civilians between September 2009 and August 2013. This membership provided access to USAA’s investment products, most bank deposit products, and life insurance. Auto and property insurance policies were not included for non-military members due to eligibility restrictions. Banking services are provided by USAA Federal Savings Bank. The bank was established on December 30, 1983. 549 billion in deposits with more than 6.