Employees are hired to work for the owners of the company.
USAA has forgotten that.
I know that a lot of their employees are also members, but the majority of their owners don’t work for USAA.
USAA built a theme park in San Antonio. Was that for the members or the employees?
USAA built a retirement community in San Antonio. Was that for the members or the employees?
I purchased a mortgage from USAA. Next thing I know, PHH owns my mortgage. USAA acts like they don’t have any idea how that happened. And PHH is not a good company to work with. And now, USAA is advertising to sell mortgages again?
USAA has been on the decline for quite some time.
Their employees are more important than their owners.
That never works out.
I’ve noticed that too. We have been with USAA for 42 years. They used to have the best insurance rates and best service around for officers, then all military, hands down - Then the corporate mentality took over big time sometime in the early nineties and they have gradually succumbed to selling their insurance and mortgage services to sub-standard third party companies in order to save money for the corporate bottom line. The original intent and business model that USAA was founded on has long since left the building.
USAA has become little more than a big bank masquerading behind its past reputation as a mutual insurer for a close knit community of military officers. USAA abandoned that model over a decade ago. Turning against Sean Hannity while still supporting Chris Matthews proves that the retired generals and admirals on USAA's board of directors are aligned with the Deep State -- against us. Wearing a uniform does not make a man virtuous; it merely makes him dangerous.
“I purchased a mortgage from USAA. Next thing I know, PHH owns my mortgage.”
Mortgages are sold into the secondary mortgage market, and USSA sold your mortgage to PHH. Be certain to keep all your original mortgage paperwork in case PHH tries to change terms without your knowledge.
Wells Fargo buys mortgages on the secondary market and is infamous for changing mortgage terms.
Secondary Mortgage Market
http://www.investopedia.com/terms/s/secondary_mortgage_market.asp
Cheers.
Once USAA opened its business to any service member it has gone downhill.
It used to be officers only. I don’t mean this as elitist, but when you get young kids with no intention of making a career of service who can use USAA for the rest of their lives, it brought down the quality because it upped the liability.
The costs are not as good as they used to be.
My only thing is that I have a credit card with them with 6% interest. I don’t usually carry a balance, but the couple of times I have to, the interest has been negligible.
Seriously considering leaving after 37 yrs with them.