USAA: A Military Benefit
An article about USAA, a financial service that caters to the military. The article shows the positive business practices and extreme savings that is offered by USAA. With all of the benefits and savings that are passed on to the consumers, this shows why the company has not been affect by the recession like other banks.
Today, there are many benefits for individuals in the military. One such benefit comes in through a financial institution known as the United Services Automobile Association. USAA, as it is better known, provides soldiers, sailors, marines, and airmen with highly affordable insurance coverage, quality banking and investment accounts, and various other services. USAA operates completely through on line interaction with customers and reserves itself almost exclusively for military members, veterans, and their families.
The first benefit of USAA is the insurance that it provides. A typically, a service member can expect savings of between twenty and sixty percent on automotive insurance. This is a significant saving for struggling service members. In addition, the company provides options such as reduced fees for insuring vehicles that are in storage for deployed members. In addition to exceptional savings, members also receive dividends at the end of the year for having USAA. Typically, one can expect forty to sixty dollars as an end-of-year return.
USAA is also a full service banking institution that provides standard checking and savings accounts free of charge without minimum account fund requirements. USAA provides refunds on ATM fees of up to fifteen dollars per month which can add up over time to significant savings for those who use ATM’s regularly. The savings account typically provides standard interest of around one to two percent interest which will vary depending on several factors. Options are also available for certificates of deposit with options dependent on the duration of the CD. Investment and brokerage accounts are available for members with the first fifteen trades being free, and later trades costing as little as six dollars per trade.
USAA also offers several options for credit. USAA mortgages can save homeowners several thousand dollars in fees that are reduced or discounted. There have been instances where borrowers have saved as much as three thousand on fees alone by using USAA mortgage services. Automobile loans are much lower than the standard loans with opportunities for deployed members to reduce interest to around 4.0% APR. The same discounted APR is available on USAA credit cards for deployed members.
USAA also helps members in developing consumer knowledge. Services are provide to aid members in searching for automobiles, comparison shopping, and finding other discounted services through affiliated companies. With all of the opportunities for savings and potential benefits, USAA serves as a company for service members to consider for their financial services.
