USAA Bank is the Texas-based banking component of the United States Automobile Association, a privately held financial services company offering an array of insurance, banking, investment, and lending products and services. The company’s target market and membership field is limited to members of the U.S. military and their immediate families. The company also has a history of superior credit and service ratings, in addition to its repeated recognitions by major publications for being one of the best companies to work for.
On its personal banking side, USAA Bank offers deposit and loan products to serve its members savings and lending needs. Checking, savings, Certificate of Deposit (CD) and IRA CD accounts are available, as well as auto, home, and personal loans. USAA’s checking accounts feature a free checking option that offers free mobile deposit, BillPay, funds transfers to and from any bank, and zero liability for unauthorized charges. The bank also has a secure checking account option that comes with a monthly fee in exchange for identity theft protection services and a World MasterCard debit card. The savings account offering has no monthly service fee and comes with a debit card that can be used at any ATM nationwide. Transaction fees garnered from non-USAA ATM partners are reimbursed up to a certain amount each month. The savings account also features free funds transfers and tiered interest rates that grow as the account balance reaches certain thresholds. Both the checking and savings account offerings come with USAA’s financial management software, MoneyManager, which helps track expenses and map out a budget.
Certificates of Deposit (CDs) and IRA CDs are also available and can be opened in term lengths ranging from 1 month to 7 years. CDs come in three forms: Variable, Adjustable Rate, and Fixed Rate, which allow for additional deposits, a one-time rate adjustment, and no additional deposits, respectively.
USAA Bank online banking provides a secure and versatile web-based system through which members can manage their deposit accounts, as well as other accounts they have with USAA. The Internet platform makes it easy to accomplish tasks like Bill Pay, mobile deposit, and funds transfers. USAA MoneyManager is the bank’s proprietary financial management system that gives members the ability to track their spending and budget. USAA’s mobile banking system consists of a mobile optimized website and mobile banking apps to make banking from a smartphone or tablet device easy and convenient.
USAA Bank was originally established as a federal savings bank with the FDIC in 1983 and is headquartered in San Antonio, Texas. The USAA group began after a group of Army officers insured one another when they could not obtain auto insurance due to their “high-risk” stereotype. Over 60 years later the banking component of the insurance company was started. USAA Bank serves its members through a limited number of financial service centers located across the country, as well as through online and telephone banking representatives.
When I joined USAA in 1963, it was a highly select Military Officer only organization. Over the decades this insurance company grew and grew and grew to include dozens of services including banking and membership became available to nearly anybody who is breathing. They just opened membership to ROTC cadets and believe it or nor, to 'any person who ever was in the military and has an honorable discharge.' Next, I anticipate 'anybody who has ever seen a John Wayne war movie'. Oh, and of course as membership selectivity has lessoned, fraud has gone up. Now, we get to the REAL REASON members are treated like dirt. It's 'politically correct' to treat all equally. Thus, the deadbeat dads, the scammers, the con artists and, of course, legacy members of nearly half a century are all equal. Oh, brother!
Sadly, USAA Bank has become a bank like all other mediocre American banks. That means young, inexperienced bank officers who have little, likely no, military background or Federal service experience whatsoever. And these same cookie-cutter robot employees foster the failed banking industry 'we must grow' philosophy (pimped by their managers) that largely destroyed the entire U.S. banking industry including USAA due to greed, bad risks, bad loans and a collapsed housing market. So, who takes the brunt? Certainly nobody in banking got punished or fired. Again, who takes the brunt? Why, the loyal bank customers, who else!
My beef? Now using a great 'deposit by phone' capability I find checks deposited must be HELD until the bank gets the actual money from the institution on which the check is drawn, then the funds are placed in my own USAA account for use. Thus, we are back to the mid-19th Century banking mechanisms. In a word, those who have a record of integrity for decades must suffer waiting along with the deadbeats. The bank overcompensates for their industry mis-management of non-regulated loan policies of the recent past and now takes no risks or gives any latitude whatsoever to honest members. Thus, the ' politically correct' mantra prevails so as not to offend those who abuse the capabilities of rapid 21st Century banking.
Would I recommend USAA to anybody anymore? No! Never! I would suggest getting a hometown bank within blocks of your physical residence. Faraway bureaucratic institutions invariably lose their sense of mission and their raison d'etre. They come to view the customer as 'the enemy' and this is USAA today.
I've worked at a bank for several years - Wells Fargo, to be exact. Wells Fargo is an extremely conservative (not in the political sense) bank in terms of funds availability. I placed holds on tons of things that my friends who worked for smaller banks would laugh at. But when I started banking with USAA, I was honestly shocked at the ridiculousness of the holds they place on checks. I deposited my paycheck, and there is a four day hold on the funds from the check, which was less than 1,000.00. I have never in my life experienced this or would have even thought about placing a hold for that long, or at all, on someone's paycheck that was that small. I understand that what they do is legal under Reg CC, but to anyone that needs funds availability in less than a 5 days or so, I would run away from USAA as fast as I could. Closing this puppy out the second this hold is released and I can write a check for the balance to my other account. Complete waste of time.
They have a fraud dept that does NOTHING when OBVIOUS fraud occurs, they are complete idiots. It is Christmas Eve day and ZERO notification from the bank I have used for almost 10 years that my debit card info had been compromised. Two identical charges made in CALIFORNIA at a Shell station and I live in TX but no one notifies me or tells me ANYTHING. Spoke to fraud dept just now and they basically said "too bad" and then tried to blame the fraud on me because I used my debit card locally here in TX". Really??? And I will not have access to ANY MONEY now for up to 10 days until I get another card. Merry F***** Christmas to my child when he won't have gifts.
USAA is one of the best banks I've done business with. I've used USAA for more than a decade.
Their customer service, ACH transfer service, free check-printing for life, and refund of ATM fees charged by other banks make them one of the best.
USAA offers CDs rate that are very good.
I have also used non-banking products offered by USAA such as Mutual Funds, Annuities and I'm very satisfied.
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 USAA Bank had $462.22 million in non-current loans and owned real-estate with $6.09 billion in equity and loan loss allowances on hand to cover it. This gives USAA Bank a Texas Ratio of 7.59% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for USAA Bank held steady from 6.47% as of December 31, 2012 to 7.59% as of December 31, 2013, resulting in a negative change of 17.17%. This indicates that the balance sheet and financial strength for USAA Bank has held steady in recent periods.
In the past year, USAA Bank has increased its total deposits by $3.59 billion, resulting in 6.82% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth USAA Bank has shown is excellent.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. USAA Bank has $62.87 billion in assets with $6.09 billion in equity, resulting in a capitalization level of 9.69%, which is above average.
|FDIC Certificate #||32188|
|Assets and Liabilities|
|Equity Capital||$5.38 billion|
|Loan Loss Allowance||$713.26 million|
|Unbacked Noncurrent Loans||$459.43 million|
|Real Estate Owned||$2.80 million|
|Historic Data - December 2012|
|Equity Capital||$4.87 billion|
|Loan Loss Allowance||$820.43 million|
|Unbacked Noncurrent Loans||$459.43 million|
|Real Estate Owned||$3.43 million|
|Profit Margin - Quarterly|
|Net Interest Margin||3.87%|
|Return on Assets||1.18%|
|Return on Equity||13.9%|
|Interest Income||$2.53 billion|
Always verify rates and promotions with the bank or credit union. We are not USAA Bank, we are a rate comparison website and can not provide official rates or promotions.
|0.30%||$50k||-||USAA Performance First Savings|
|1.11%||$95k||$175k||5 Year CD - Jumbo|
|1.11%||$95k||$175k||7 Year CD - Jumbo|
|1.11%||$175k||-||5 Year CD - Super Jumbo|
|1.11%||$175k||-||7 Year CD - Super Jumbo|
|1.06%||$1k||$95k||5 Year CD - Standard|
|1.06%||$1k||$95k||7 Year CD - Standard|
|1.00%||$95k||$175k||4 Year CD - Jumbo|
|1.00%||$175k||-||4 Year CD - Super Jumbo|
|0.96%||$95k||$175k||3 Year CD - Jumbo|
|0.96%||$175k||-||3 Year CD - Super Jumbo|
|0.95%||$1k||$95k||4 Year CD - Standard|
|0.91%||$1k||$95k||3 Year CD - Standard|
|0.90%||$95k||$175k||30 Month CD - Jumbo|
|0.90%||$175k||-||30 Month CD - Super Jumbo|
|0.86%||$95k||$175k||2 Year CD - Jumbo|
|0.86%||$175k||-||2 Year CD - Super Jumbo|
|0.85%||$1k||$95k||30 Month CD - Standard|
|0.81%||$1k||$95k||2 Year CD - Standard|
|0.81%||$95k||$175k||18 Month CD - Jumbo|
|0.81%||$175k||-||18 Month CD - Super Jumbo|
|0.76%||$1k||$95k||18 Month CD - Standard|
|0.76%||$95k||$175k||1 Year CD - Jumbo|
|0.76%||$95k||$175k||15 Month CD - Jumbo|
|0.76%||$175k||-||1 Year CD - Super Jumbo|
|0.76%||$175k||-||15 Month CD - Super Jumbo|
|0.71%||$1k||$95k||1 Year CD - Standard|
|0.71%||$1k||$95k||15 Month CD - Standard|
|0.71%||$95k||$175k||270 Day CD - Jumbo|
|0.71%||$175k||-||270 Day CD - Super Jumbo|
|0.66%||$1k||$95k||270 Day CD - Standard|
|0.61%||$95k||$175k||182 Day CD - Jumbo|
|0.61%||$95k||$175k||7 Month CD - Jumbo|
|0.61%||$175k||-||182 Day CD - Super Jumbo|
|0.61%||$175k||-||7 Month CD - Super Jumbo|
|0.56%||$1k||$95k||182 Day CD - Standard|
|0.56%||$1k||$95k||7 Month CD - Standard|
|0.50%||$95k||$175k||150 Day CD - Jumbo|
|0.50%||$175k||-||150 Day CD - Super Jumbo|
|0.48%||$95k||$175k||5 Year CD - Jumbo Adjustable Rate|
|0.48%||$175k||-||5 Year CD - Super Jumbo Adjustable Rate|
|0.48%||$95k||$175k||7 Year CD - Jumbo Adjustable Rate|
|0.48%||$175k||-||7 Year CD - Super Jumbo Adjustable Rate|
|0.46%||$250||-||182 Day CD - Variable Rate|
|0.46%||$250||-||1 Year CD - Variable Rate|
|0.45%||$95k||$175k||120 Day CD - Jumbo|
|0.45%||$175k||-||120 Day CD - Super Jumbo|
|0.43%||$1k||$95k||5 Year CD - Standard Adjustable Rate|
|0.43%||$1k||$95k||7 Year CD - Standard Adjustable Rate|
|0.36%||$95k||$175k||4 Year CD - Jumbo Adjustable Rate|
|0.36%||$175k||-||4 Year CD - Super Jumbo Adjustable Rate|
|0.35%||$95k||$175k||91 Day CD - Jumbo|
|0.35%||$175k||-||91 Day CD - Super Jumbo|
|0.31%||$1k||$95k||4 Year CD - Standard Adjustable Rate|
|0.30%||$1k||$95k||91 Day CD - Standard|
|0.25%||$95k||$175k||30 Day CD - Jumbo|
|0.25%||$175k||-||30 Day CD - Super Jumbo|
|0.17%||$95k||$175k||3 Year CD - Jumbo Adjustable Rate|
|0.17%||$175k||-||3 Year CD - Super Jumbo Adjustable Rate|
|0.12%||$1k||$95k||3 Year CD - Standard Adjustable Rate|
|1.11%||$95k||$175k||5 Year IRA - Jumbo (Traditional,Roth,SEP,SIMPLE)|
|1.11%||$175k||-||5 Year IRA - Super Jumbo (Traditional,Roth,SEP,SIMPLE)|
|1.11%||$95k||$175k||7 Year IRA - Jumbo (Traditional,Roth,SEP,SIMPLE)|
|1.11%||$175k||-||7 Year IRA - Super Jumbo (Traditional,Roth,SEP,SIMPLE)|
|1.06%||$250||$95k||5 Year IRA - Standard (Traditional,Roth,SEP,SIMPLE)|
|1.06%||$250||$95k||7 Year IRA - Standard (Traditional,Roth,SEP,SIMPLE)|
|1.00%||$95k||$175k||4 Year IRA - Jumbo (Traditional,Roth,SEP,SIMPLE)|
|1.00%||$175k||-||4 Year IRA - Super Jumbo (Traditional,Roth,SEP,SIMPLE)|
|0.96%||$95k||$175k||3 Year IRA - Jumbo (Traditional,Roth,SEP,SIMPLE)|
|0.96%||$175k||-||3 Year IRA - Super Jumbo (Traditional,Roth,SEP,SIMPLE)|
|0.95%||$250||$95k||4 Year IRA - Standard (Traditional,Roth,SEP,SIMPLE)|
|0.91%||$250||$95k||3 Year IRA - Standard (Traditional,Roth,SEP,SIMPLE)|
|0.86%||$95k||$175k||2 Year IRA - Jumbo (Traditional,Roth,SEP,SIMPLE)|
|0.86%||$175k||-||2 Year IRA - Super Jumbo (Traditional,Roth,SEP,SIMPLE)|
|0.81%||$250||$95k||2 Year IRA - Standard (Traditional,Roth,SEP,SIMPLE)|
|0.76%||$95k||$175k||1 Year IRA - Jumbo (Traditional,Roth,SEP,SIMPLE)|
|0.76%||$175k||-||1 Year IRA - Super Jumbo (Traditional,Roth,SEP,SIMPLE)|
|0.71%||$250||$95k||1 Year IRA - Standard (Traditional,Roth,SEP,SIMPLE)|
|USAA Bank Locations|
|USAA Federal Savings Bank||10750 Mcdermott Freeway||San Antonio, TX 78288|