USAA Takes it on the Chin, Dishes out free cash

[mickeyd]

Those tornadoes really ripped into USAA's claims bucket of cash it seems. I also saw a local story on USAA offering free loans to USAA military members who, in the event that they do not get paid by the military this month, are not paid due to debt limit problems but can not seem to find a link to that story.

I wonder what other companies are willing to advance pay to their customers on a no interest basis?

USAA's net income fell to $841 million from nearly $1.34 billion in the first six months of last year, a 37 percent plunge.
In its midyear financial update released Monday, USAA reported receiving nearly 100,000 claims for damages caused by tornados in Joplin, Mo., and Tuscaloosa, Ala., and storms elsewhere. So far, USAA has paid $451 million in losses, a figure that is expected to climb to more than $910 million.
“Because we managed our resources prudently, we not only have the capital to handle these storms, but we are prepared to respond to catastrophes even more severe,” USAA President and CEO Joe Robles Jr. said in the midyear report.

Read more: Disasters hurt USAA's bottom line - San Antonio Express-News​

 

[East Texas]

It's buried in this thread - Post 43: http://www.early-retirement.org/forums/f28/usaas-invited-me-to-san-antonio-57007-3.html

 

[mickeyd]

It's buried in this thread - Post 43: http://www.early-retirement.org/forums/f28/usaas-invited-me-to-san-antonio-57007-3.html

Thanks for the link.

 

[pimpmyretirement]

USAA is my insurer. I "kind of" trust them, which says a lot for an insurance company.

 

[Nords]

I wonder what other companies are willing to advance pay to their customers on a no interest basis?

A MegaCorp's biggest marketing budget couldn't buy this sort of publicity!

Now they're all piling on:

A Message From Navy Federal President Cutler Dawson:
We have reaffirmed our commitment to advance pay to members with direct deposit who are active duty military and DoD civilian employees in the event of a breach of the debt ceiling August 2. We will honor the same pledge we originally made in April, during the potential government shutdown. As a credit union serving all branches of the military, we want to do our part in easing some of the uncertainty for our military families during this potentially challenging time.

 

[mickeyd]

Could a service member/duel customer take two free loans?

 

[calmloki]

A MegaCorp's biggest marketing budget couldn't buy this sort of publicity!

Now they're all piling on:

Ditto PenFed.

 

[mickeyd]

Ditto PenFed.

Three?

 

[WM]

Three?

No, it's only if you have your paycheck on direct deposit with them.

 

[Sue J]

Here's the notice from PenFed -
https://www.penfed.org/pdf/Final_Government Default Contingency Plan_072711.pdf