USAA 2010 Report to Members

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USAA’S MISSIONThe mission of the association is to facilitate thefinancial security of its members, associates andtheir families through provision of a full range ofhighly competitive financial products and services;in so doing, USAA seeks to be the provider of choicefor the military community.LETTER FROM THE CEODEAR FELLOWUSAA MEMBERS,Every year, we report to members about how USAAperformed during the past year. You report back to me,too. Every day, I get e-mails, letters and phone calls frommembers, telling me about their experiences with USAA.Just a few months ago, an officer onactive duty in Iraq left an emotionalvoice mail thanking one of our memberservice representatives. Another lenderwas about to foreclose on the officer’shome in the states, and we were ableto save her home from foreclosure.When we say that USAA serves youthrough every stage of life, we’re talkingabout people like that service memberand moments like these: A suddendeployment. Managing debt. The birthof a baby. Buying a home. Planning forretirement. The life of military-servicemembers and their families is one weunderstand, because many of us havebeen in those shoes and boots. USAAwas created nearly 89 years ago for andby members of the military. Today, aboutone in five USAA employees is activelyserving, has served or is a military spouse.Many more are the sons and daughters,brothers and sisters, and mothers andfathers of those who have served.In 2010, USAA was able to serve moremembers and meet more needs thanever before. Our members benefited inseveral tangible ways.USAA invested in new technology capabilitiesand introduced new services tosimplify your life. A great example inthe past year was the introduction of theAuto Circle and Home Circle solutions,which have saved thousands of membersGIVING BACK TO OUR MEMBERS2008$857M2009$1.2Btime, money and hassle. From one simpleto-navigatewebsite — or using a smartphone — members can now find, financeand insure a car or home. Members alsohave more and enhanced choices in howto do business with USAA — whether byphone, online, mobile (try our new appfor the iPad ® ) or at one of our new faceto-facefinancial centers opened in selectlocations in 2010.2010$1.3BIn 2010, USAA returned $1.3 billion to our members, associates and customers in dividends, distributions,and bank rebates and rewards — 12 percent more than the year before.8 USAA 2010 REPORT TO MEMBERSSee legal information on Page 21.
2010 IN NUMBERSNumber of USAA employees who are activelyserving, have served or are military spouses.Reinforcing our commitment to understanding militaryfamilies better than any financial services providerIncrease in number ofUSAA members.Growing in strength, thanks to expandingeligibility to those who have honorably servedAmount paid out in homeand auto claims by USAA.Being there for our policyholderswhen they most need it#11 in 5 $18.7B 617,000MORE THAN$165M $ 7. 4BWhere USAA ranked innumerous financial industrysurveys and studies.Excelling in customer serviceand innovationUSAA’s net worth,an increase of $1.7 billionfrom 2009.Maintaining our ability to help keepour commitment to membersHow much USAA memberssaved through refinanced mortgagesand car-buying services.Saving our members money on adiverse range of innovative productsWe were also able to return more moneyback to you in 2010. Once we met ourcurrent and projected financial needs,USAA gave back $1.3 billion to ourmembers and customers in dividends,distributions, and bank rebates andrewards — 12 percent more than theyear before. Additionally, we helpedmembers and customers save more than$165 million last year through refinancedmortgages and car-buying services. Andwe carefully managed reserves to bethere for our insured members in theirtimes of loss. Last year, USAA paid out$7.4 billion in auto and home claims,despite a year with no major hurricanesalong U.S. coasts.More members of the military communityare now eligible to join USAA.After expanding membership in 2009to all who have honorably served in theU.S. military, USAA now has more than8 million members. We also forged newrelationships with a number of militaryrelatedorganizations in 2010, includingThe American Legion and the MilitaryOfficers Association of America. Theserelationships are a logical extension ofour mission to facilitate the financialsecurity of our military members andtheir families.Our members continued to enjoy awardwinningservice levels and reported97 percent customer satisfaction. In fact,USAA again garnered numerous topscores for customer service from leadingresearch firms such as J.D. Power,Forrester Research, Inc. and others.Of course, the ability to serve moremembers and meet more needs restson a foundation of financial strength.You will see in the pages ahead thatUSAA grew stronger in 2010. Thanksin part to more efficient operations andprudent financial management, our networth — the best measure of our abilityto keep our commitment to our memberstoday and in the future — increased$1.7 billion, to a record $18.7 billion.One valuable asset that doesn’t appearon our balance sheet is the bond of trustbetween USAA and our members.The core values that guide the militaryalso inspire USAA to do the right thingbecause it’s the right thing to do. As wemove into another year of business andregulatory challenges, we intend tocontinue earning your trust by knowingyou and serving you better through everystage of life.Sincerely,Josue (Joe) Robles Jr.Maj. General, USA (Ret.)President and Chief Executive OfficerSee legal information on Page 21. USAA 2010 REPORT TO MEMBERS 9
Page 1: USAA 2010 REPORT TO MEMBERSSERVING
Page 4 and 5: Pat & Manuel EscobarUSAA MEMBERS SI
Page 6 and 7: USAA IS MYTerm Life InsuranceHome a
Page 8 and 9: John D. Monahan, USA (Ret.)USAA MEM
Page 12 and 13: HOW WE SERVE YOUServing our members
Page 14 and 15: USAA IS OURImparting the Core Value
Page 16 and 17: OUR FINANCIAL STRENGTHMANAGEMENT’
Page 18 and 19: CONSOLIDATED STATEMENTS OF INCOMECo
Page 20 and 21: OUR 2010 BOARD OF DIRECTORSSixteen
Page 22 and 23: OUR 2010 EXECUTIVE COUNCILThe day-t
Page 24: THANK YOU and loyalty in 2010.for y

USAA 2010 Report to Members

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