3 ms·
In the current climate, I care more about solvency than services.
by Estragon 17y ago
In the current climate, I care more about solvency than services.
- timf 17y agoAnother reason I am happy at USAA: In 2008 "when most financial services companies posted record losses and the S&P 500 Index total return dropped by 37%, USAA earned $423 million in net income and generated positive investment income." https://www.usaa.com/inet/ent_utils/McStaticPages?key=newsroom_factsheets_main https://www.usaa.com/inet/ent_utils/McStaticPages?key=newsro... In 2009, they've done even better: https://www.usaa.com/inet/ent_blogs/Blogs?action=blogpost&blogkey=newsroom&postkey=2009_report_to_members https://www.usaa.com/inet/ent_blogs/Blogs?action=blogpost...
- rgrove 17y agoUSAA has consistently received the highest possible credit ratings, even over the last few years while other banks have been failing. They also haven't taken any bailout money.
- elblanco 17y agoA few mainstream banks (non-FCUs) did this as well. Smaller banks mostly, but even BB&T made out okay through all the commotion.
- fnid2 17y agoI wish USAA did business banking! I tried to sign up with them, but they only do personal banking.
- jakarta 17y agoUSAA has an 8% tangible equity to assets ratio. For capital adequacy purposes, the bank only needs 1.5% TCE/TA. They are well capitalized and I would say that their prospects for insolvency are nil.