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Valued Contributor
ezdoesit
Posts: 1,053
Registered: ‎03-16-2013
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Re: USAA is not open to everyone anymore

This is a little confusing to say the least but at I think I understand now.

 

So any military members current or former and their eligible family members can join and be a full member.  I remember when I opened the account with them at that time I had no products with them but had an account number nonetheless. 

 

They also said since I am a member that my wife and children can also be members.  So my wife signed up and when I had my first child I signed him up also I recently had another child and the drop down menu on top I can add a family member.

 

So people don't like USAA but for me they have been great very friendly CSR.  Their rewards on the cc leave something to be desired but the auto loan rate are unbelievable low.  Unfortunately this change affects a lot of people but for full members I think it helps in the long run because before this their products were starting to get a little watered down like NFCU people like having them because of the exclusivity.  Now I hope to eel the same about USAA.

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ArmyVietVet
Posts: 5,793
Registered: ‎10-03-2008
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Re: USAA is not open to everyone anymore

[ Edited ]

USAA eligibility is for active, retired and honorably discharged veterans. The insurance products were setup to only accept the above categories or those who had some family connection to a service member past or present. All the other products were open to non veterans. Until this posting I was unaware they closed the door to new non veteran members. I am a veteran and full member and they never gave us any notice of the change. Why? You do need to be a member but unlike a credit union, you do not set up a share account. USAA Federal Savings Bank is a little different by requirement than a national association bank or a state chartered bank. They are not a savings and loan (there are few organized like USAA Federal Savings Bank) or a credit union. As an aside, their credit cards are run through a bank in Nevada that is separate from the bank in Texas (liability I assume). Both banks are FDIC rated and the Texas Bank has the highest rating.



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Established Contributor
ccnewcc
Posts: 560
Registered: ‎09-29-2012
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Re: USAA is not open to everyone anymore

I wonder if this has to do with risks/losses to the company?  It stands to reason that the more inclusive USAA is, the more USAA opens themselves up to additional risks and losses.  Maybe they determined that a more narrow focus of members yields better results?

 

Frankly, I'm not quite sure I ever understood they whole full member vs. limited member setup anyhow.

Valued Contributor
lhcole77
Posts: 1,471
Registered: ‎09-18-2012
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Re: USAA is not open to everyone anymore

Limiting membership at USAA is no different than limiting membership at credit unions.
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youngandcreditwrthy
Posts: 6,242
Registered: ‎08-16-2012
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Re: USAA is not open to everyone anymore

I thought you had to be a member anyway lol... Dang
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manyquestions
Posts: 307
Registered: ‎10-20-2008
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Re: USAA is not open to everyone anymore

Has anyone that is a partial member applied for a card today? Wondering if those who are in but not full members will get the same deals on the cards now.

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ArmyVietVet
Posts: 5,793
Registered: ‎10-03-2008
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Re: USAA is not open to everyone anymore

[ Edited ]

USAA Federal Savings Bank effective to August 27, 2013 closed all membership to non veterans. Anotherwords, unless you can connect yourself to someone in your family or have some form of military service (as defined by USAA) you cannot be a member. Back to the fall of 2009 it was that way and even restrictive to military personnel. If you are a member of USAA as a non veteran you can remain a member as long as you have active account(s) except you cannot particpate in property and casualty products. All other military based memberships remain unchanged. This information came directly from the USAA Federal Savings Bank at 9:05 a.m. CDT Tuesday, September 3, 2013.



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Valued Contributor
lhcole77
Posts: 1,471
Registered: ‎09-18-2012
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Re: USAA is not open to everyone anymore


Wanderer wrote:

USAA Federal Savings Bank effective to August 27, 2013 closed all membership to non veterans. Anotherwords, unless you can connect yourself to someone in your family or have some form of military service (as defined by USAA) you cannot be a member. Back to the fall of 2009 it was that way and even restrictive to military personnel. If you are a member of USAA as a non veteran you can remain a member as long as you have active account(s) except you cannot particpate in property and casualty products. All other military based memberships remain unchanged. This information came directly from the USAA Federal Savings Bank at 9:05 a.m. CDT Tuesday, September 3, 2013.


Thanks for posting this directly from the source.

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patrick00032001
Posts: 105
Registered: ‎02-18-2008
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Re: USAA is not open to everyone anymore

I am a partial member, I just checked both of my credit card accounts and they are still intact! What I find even more interesting, is that now I am able to apply for credit products I wasnt able to before, auto, personal, and low APR credit cards? The only thing I am not eligable for and wasnt before, is auto and casulty insurance. :smileyhappy:

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ezdriver
Posts: 1,918
Registered: ‎08-24-2013
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Re: USAA is not open to everyone anymore

My son is a US Marine and I am not eligible so what .... there are many alternatives. I can't be bothered.



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