Why my favorite bank is USAA

Posted on Monday - December 22nd, 2008 / 2 Comments

In the past, I have tried a couple of small town banks and some of the hugest financial institutions. So far, the best financial services company that I’ve ever had the pleasure to be a member of is USAA. All of my income goes to USAA first and then I transfer my money out to wherever I may need it. USAA is convenient for transfers because they allow you to link numerous external accounts to your USAA checking/saving account. Once you setup a transfer, USAA is very quick with processing everything. When I make a transfer from an external account into my USAA account, they even front me the incoming money while the transaction is processing. This way, I can instantaneously have those funds available to me in case I really need then. Some banks (like WaMu) make you wait a few days before they even think about actually processing the transfer which then takes another couple of days. USAA won me over with their courtesy, trust and common sense when it comes to taking care of their customers. There aren’t a bunch of ‘gotta have it’ or ‘gee whiz’ features but they provide a professional and honest service. Other than a checking account, I rely on USAA for my auto insurance as well as term & universal life insurance policies for my wife and I.

In case you’re wondering, USAA stands for United Services Automobile Association. In order to be a member, you’ll need to be one of the following:

Active-duty officers and enlisted personnel.
National Guard and Selected Reserve officers and enlisted personnel.
Officer candidates in commissioning programs (Academy, ROTC, OCS/OTS).
Former military personnel:

Retired officers and enlisted personnel.

Former officers and enlisted personnel who separated on or after Jan. 1, 1996.

Adult children of USAA members.
Widows, widowers and former spouses of USAA members.
Current and retired employees of USAA.
Foreign Service officers and specialists actively serving in the Foreign Service of the U.S. Department of State.
Commissioned officers actively serving in the United States Public Health Service or the National Oceanic and Atmospheric Administration.
Faculty and staff actively serving at the Merchant Marine Academy who hold commissions granted by the U.S. Maritime Administration.
Special Agents actively serving in the:

Secret Service

Federal Bureau of Investigation

Drug Enforcement Administration

Naval Criminal Investigative Service

Air Force Office of Special Investigations

Army Criminal Investigation Command

Defense Criminal Investigative Service

Getting to know USAA

USAA has been around since 1922 and was started by some twenty-five Army officers. With honesty, rather than slimy car salesmanship, USAA has provided financial security to over 6 million (and growing) members. I might also mention that USAA isn’t a publicly traded company; which means that stockholders aren’t calling the shots – instead, the company prefers to listen to their customers. USAA doesn’t have branches everywhere; the company conducts its business through the internet, phones and mail. Beginning in 1922 USAA basically operated through mailings; late in the 1960’s they adopted the use of phones but didn’t get a toll-free number until 1978. Considering that toll free numbers were available in 1967, I’m guessing that USAA was a little slow adapting to change or there just wasn’t a lot of need for phone based services. USAA started operating on the Internet in 1999 and have stayed in touch with technological changes ever since. When I wrote this article, their website was pretty slick. The pages load fast and I can manage every type of account that I have very easily once I login. USAA keeps an archive of your bank statements and other documents (like insurance policies) so that you can look at or print them in a matter of minutes. I can also communicate with USAA’s customer service through speedy email messages that are built in to their site.

USAA runs on integrity; employees don’t receive any commission for selling someone a bunch of different insurance policies that they don’t really need. USAA currently offers incredibly competitive checking, savings, loans, certificates of deposit, credit cards, mortgages, auto insurance, home & property insurance, life insurance, numerous investing options, and much more. USAA also provides a free financial assessment so that you can see where you need to improve your financial situation. The financial assessment is a good tool for anyone but it is especially important for any young military member who just left their parent’s house for the first time. If you are eligible to be a USAA member and are trying to reach a decision on whether you should choose USAA or not, I urge you to read this short article.

Subscriber’s Account

This is just icing on the cake and shouldn’t be a major consideration when deciding to join USAA. When you pay $X amount of money to USAA for some type of insurance policy, your money sits in an account. This account is your Subscriber Savings Account (SSA) and it’s something that you’ll never be able to see or mess with. You can pretty much assume that you will never see your insurance premiums again, however, every once in a while something magical happens. If USAA had an awesome year – one where the company’s investments did great and they didn’t have to cover a lot of member accidents or other catastrophic losses – then USAA may choose to give you some of your premium money back. SSA Distributions are never guaranteed, but I have received them on a fairly regular basis.

USAA’s Official Explanation

Subscriber’s Accounts are a unique feature of USAA membership. As a reciprocal insurer, USAA holds a portion of its capital in each member’s name in a Subscriber’s Account. The association may, at the discretion of the USAA Board of Directors, use these funds to support USAA’s mission and goals.

Subscriber’s Accounts play an important role in our financial structure by providing capital to satisfy legal and regulatory requirements, support current and future operations, and pay large unexpected losses, such as claims from catastrophes.
Each year, the USAA Board of Directors examines whether USAA’s capital exceeds its current and projected needs and requirements. As circumstances permit, the board may authorize a distribution from each member’s Subscriber’s Account. If the board authorizes a distribution, a member can choose to receive the Subscriber’s Account distribution by direct deposit, apply the Subscriber’s Account amount to a USAA auto and property insurance bill or receive a check.

Final Ramblings

If you qualify to be a member – definitely take advantage of USAA’s professional services. USAA strives to be the provider of choice for the military community. They have succeeded in that mission with me; I’d like for everyone to be able to experience the benefits of being a member of USAA.

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Link to this Article:
http://www.randomlywriting.com/money-and-financial-issues/why-my-favorite-bank-is-usaa/

Free software and other goodies with TrialPay

Posted on Monday - December 15th, 2008

TrialPay allows smarties (like you and I) to pay for programs (and some other stuff) by trying out offers or buying other products from certain advertising partners. Everyone benefits from this type of payment system; you receive two products for the price of one, the software developer gets paid by the advertising partner and the advertisers get new users or at least some leads. With TrialPay it is very possible for you to get your choice of high quality software for free.

How it works

You pick out a program that you want or need, such as AVG Anti-Virus 8.0. You then select an offer to complete or sign up for, like FreeCreditReport.com. Once you signed up with the Free Credit Report people – they will pay the AVG people some money for referring you to their service and then you’ll receive a free, working copy of AVG Anti-Virus 8.0 with license + a free credit report. =]

Merchants

At the time that I wrote this, there were approximately six-thousand companies that were offering a service/product for free through TrialPay. These merchants consist of reputable businesses such as AVG, Siber Systems, Corel, The Wall Street Journal, WeatherBug, Plaxo, Skype, McAfee and so on. In addition, TrialPay had approximately two-thousand companies to match customers with in order to pay their merchants. Premium advertisers such as Blockbuster, American Express, eBay and FTD.com are just a few of companies in the TrialPay network that offer special deals to shoppers. Once again, when I wrote this article, TrialPay had well over twelve million shoppers.

Amazing Deals

There are some great applications to be had as well as some credible offers to try – such as, GoDaddy.com and BLOCKBUSTER Total Access. Below is a giant list of programs that you’re able to receive (for free) by participating in the TrialPay process. I hope that you’re able to find something to your liking.

It is important to note that not every available merchant is listed here. Some merchants prefer to keep the TrialPay method hush hush and only offer it as a last resort. For example: If you download a free trial of some software, then the trial period expires and you decide to uninstall that software – you might see a dialog box that pops up to explain how you can get their product for free using TrialPay.