USAA

The United Services Automobile Association (USAA) is a Texas-based diversified financial services group of companies which includes a Texas Department of Insurance regulated unincorporated, reciprocal inter-insurance exchange and a Fortune 500 financial services company offering banking, investing, and insurance to people and families that serve, or served, in the United States military. At the end of 2011, there were 8.8 million members. 2.5 million of the total of 8.4 million members were subscribing members who have about $7–8 each on deposit with the exchange to guarantee its financial capabilities. The company reported a surplus [not Net Worth] of $19.3 billion in 2011.

USAA was founded in 1922 by a group of U.S. Army officers to self-insure each other when they were unable to secure auto insurance due to the perception that they were a high-risk group. USAA has since expanded to offer banking and insurance services to past and present members of the Armed Forces and their immediate families.

The company was one of the pioneers of direct marketing and most of its business is conducted over the Internet or telephone using employees instead of agents.

History

The organization was originally called the United States Army Automobile Association. In 1924, the name was changed to United Services Automobile Association, when members of other military services became eligible for membership. The company opened offices in Frankfurt, Germany, and London, England early in its history.
USAA is headquartered in San Antonio, Texas, occupying 286 acres (116 ha) (a former horse farm) in a large single-occupancy office building on the city's northwest side.
USAA is a pioneer of the concept of direct marketing; most of its business is conducted over the 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 banking services in the 1980s.
In 1996, eligibility was extended to enlisted personnel.

 Website : www.usaa.com

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