Is USAA Bank doing ok?

Question from Patreon member: I never see USAA in any of your bank charts. Is this bank doing ok?
Recording date: May 21, 2023
#iaclips #investanswers #bankcrisis #usaabank #usaa

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[MindBodySoulOk]

We're about to close our account because this bank sucks so bad. HORRIBLE customer service, I have been flat hung up on several occasions.

[roystervi]

Please inquire with USAA regarding the increasing cost of their insurance for veterans in Florida. I've observed my insurance rates rise twice already this year. When I asked why it has become so expensive, I was given the explanation that they are only making $1 for every $1.10 spent due to claims, which I find hard to believe. If this is indeed the case, why do they offer profit-sharing at the end of each year? Last year, they returned over $3 million through profit-sharing. Wouldn't it make more sense to reduce profit-sharing and keep rates stable? I've noticed that as I search for more affordable car insurance options, USAA is consistently raising prices in florida by staying just slightly lower than its competitors $10 to $1.

[WACATX]

They denied a VALID home owner's insurance claim many years ago. While I kept my automobile insurance them, I have NEVER had home owners insurance with them since. And it was a small claim.

[pbrown]

Usaa customer for 13 years. Never had an issue with them.

[rdk]

Tried calling USAA on auto loan and was on hold over 20 minutes. When I finally just tried the pre approval online process is kicked back a rate that was 1.5% higher than NFCU. So after 44 year membership, guess I still will have never done a USAA loan. Maybe spend less for Gronk commercials and be more competitive and answer the phone. You’ll then not need Gronk commercials…

[WACATX]

Their rates are becoming non-competitive compared to the general market. Recent automobile premium increases are outrageous and I have had no tickets or accidents for over 20 years. May start shopping around.

[Red]

I have been with USAA for over 50 years. Excellent service. My major concerns are the huge number of Flag officers serving USAA and reduced products over the decades. It used to be we could buy diamonds and cars. Then stocks and funds. Now gone. Recently they put 5 day holds on interbank transfers. That was the event where my most of my 8 income deposits (7) were no longer sent to USAA but to my other accounts as Chase and Wells. I hope you are correct on USAA future.

[BeeTrillion]

I called to open a simple checking account and was told that they choose not to do business with me.