The answer to this question will vary based on your individual needs and eligibility. USAA has excellent customer service and offers military-focused products with lower-than-average rates. But, like other companies that offer insurance and banking, USAA has its challenges. For example, its savings account interest rates are low and the company has been sued several times in recent years.

USAA is a large and profitable company that was founded in 1922. The company offers a wide range of services, including auto, home and life insurance, financial products and retirement planning. It also has a strong digital experience and many services that are unique to the military, such as free checking accounts with no minimum balance and rewards debit cards, a mobile app for depositing checks and other banking tasks, free online bill pay and automatic overdraft protection.

Insurance by Heroes benefit that many military members appreciate is a perk program that includes discounts on hotels, rental cars, airline tickets, concerts and sporting events. There are also savings for car care, home security, retail stores and gym memberships. USAA also has an outstanding mobile application that makes it easy to get roadside assistance.

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USAA’s most valuable asset is its financial strength, which it maintains with conservative business practices and long-term investing. In 2023, USAA’s net income was $3.9 billion and its net worth grew by 10% to $32.1 billion. The company also paid $23.9 billion in claims, including catastrophe-related payments. This strength gives the company a solid foundation for supporting its members in good times and bad.