Anything you want to ask a big financial institution?

I’m at USAA headquarters in San Antonio, TX for a few days and will have an opportunity to meet some representatives from various departments. Thought I’d give you all an opportunity to use me as a middle-man for any questions you might have for a LARGE financial institution. You tell me, I’ll ask them, and I’ll report back with answers.

Get as nitty-gritty as you’d like, I’m not shy and wont mind rolling my sleeves up or asking some awkward/tough questions. I’ll be posting their responses throughout the day 😉

If you have no desire to participate here is a picture of Clint Eastwood holding a baby armadillo…

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27 thoughts on “Anything you want to ask a big financial institution?”

      • I threw that up there for a good laugh since I was the first post. 🙂

        I have no experience with USAA but most large financial institutions have crap customer service, USAA might be the exception, I really have no idea. HA

        • I think USAA is pretty well known for having excellent relationships with their customers. I’m not a member so I can’t speak personally, but you’ll see from the comments below, people that use them LOVE them.

  1. I was a little disappointed to see USAA running TV ads. Other than the obvious answer of trying to get more customers, why did they decide to run TV ads when a) TV spots are expensive and b) they have the best customer referral network in the country?

    USAA has great prices, but they aren’t the cheapest. You pay for their top ranked customer service, but TV commercials add to customer costs at some point.

    • Their official response:

      Members who love USAA often find it hard to believe that not everyone knows about USAA. However, research shows us that only one out of five eligible veterans is even aware of USAA. What’s even more surprising is the number of members who are unfamiliar with the many ways USAA can help them facilitate their financial security.

      National advertising is one of the most efficient ways to introduce USAA to newly eligible veterans and to communicate with our members. By helping grow membership, advertising actually improves USAA’s financial strength and helps us maintain our highly competitive rates. USAA takes a strategic approach to reaching eligible potential members. We spend at minimum threshold levels on media targeted towards the military community. As a result, USAA is serving those who have earned membership more completely than ever before.

  2. Yes – Why won’t they offer car insurance to former enlisted soldiers with good driving records from the same company that they write former officers from?

    • I can ask the question, but I’m a little confused. Former enlisted soldiers are eligible for car insurance, so I imagine their response will be “They are eligible”. Are you saying they write officers a better policy than they will for enlisted service members?

      • Word from USAA was that they have different risk categories so a new E-1 is going to be assumed as a higher risk than an O-4. They take age, income, driving record in to account.

        • I understand different rick categories but I am told they write officer policies from a different captive insurance company then they do for enlisted policies regardless of risk category.

      • Are the policies that they write for current or former enlisted eligible for the insurance subscriber savings accounts that the officer policies come with?

  3. Why won’t USAA expand its customer base to non-military people? And if I had a relative who served in the military (uh – my father in WW2), am I eligible?

      • If your father was still alive then he could have signed up and then you can get access to member benefits, but as that is not the case, it doesn’t seem like you would be eligible. USAA prides themselves on their members (military veterans) and they’d rather work hard at serving them well, then expanding to the whole country and sacrificing their quality of service. They said there are upwards of 80,000,000 eligible persons in the US for membership.

        I wish I could use them for insurance because I really believe the organization is like Nordstrom, Costco, etc (prides themselves on great customer service), but I can’t be mad they are focused on serving veterans and dependents.

        • My father still is alive, but I doubt he’s registered with USAA. I’m satisfied well enough with Geico that I’m not looking to make a switch.

  4. Not a question, just want to say that I love most things about USAA. They have always been good to me.
    I like the new design of their website, but their money tracking software is just not very good so I’ll be sticking to Mint for that kind of thing.

    • Word is. Nope. They still have actually only opened up mobile deposit to about 50% of their members. So if they aren’t even letting ALL of their members use the service, I don’t imagine it’s coming to basic account holders any time soon.

      ING is what I use for easing my mobile deposit concerns.

      • No luck, but I know of many who rave about them. I thought about using their other services since they are open to the public, but for some reason they don’t seem as compelling as their insurance products.

        • A personal friend of mine is an Insurance broker so he actually found my car and rental insurance policies through Safeco cheaper than a quote I could find for myself.

          • Thanks Ninja! Never really considered an insurance broker because I always considered using middlemen would just raise the costs overall. I might use one the next time I go insurance shopping.

  5. Long-time USAA member here. Love them!!! Excellent customer service on all my accounts, plus nice discount for having several products (insurance, investments, visa, etc.). My father was career Army officer, so this has been a great benefit to me financially for all these years. I do hope more enlisted folks make the switch, as it will really help them down the road.

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