USAA 2010 Report to Members

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John D. Monahan, USA (Ret.)USAA MEMBER SINCE 1977USAA IS OURJack Monahan didn’t need a lot of convincing.Among the first to hear The American Legion wasconsidering an alliance with USAA, he knew itwas a perfect match. For more than three decades,Jack has turned to USAA to insure his homeand at least a dozen cars over the years. He hasUSAA life insurance, a USAA credit card, andhe’s even used USAA to buy jewelry for his wifeand daughters.His biggest hope is that the relationship will bringmore USAA members to The American Legion,too. Jack believes both organizations do good work,and they’ve inspired him to do the same in hisprofessional role as Administrator of the State ofConnecticut Soldiers’, Sailors’ and Marines’ Fund.Serving the Needs of Veterans Who Have Honorably ServedPreferred Source for Financial Products and ServicesDaniel S. Wheeler, USNNATIONAL ADJUTANT, THE AMERICAN LEGIONUSAA MEMBER SINCE 2010Dan Wheeler seriously believes in doing hishomework.When The American Legion first looked atexploring an affinity relationship with USAA,he went undercover to look at what membershipcould offer him. The former Navy sonarmancalled USAA to get a quote on auto insuranceand made no mention of who he was or wherehe was from.After learning he could save hundreds of dollarsa year on his family’s policies, Dan switched toUSAA from an insurance company he’d beenwith for 31 years. He has since added a USAAcredit card and has been impressed with theservice. Dan believes that USAA treats membersmore like brothers-in-arms than just customers.6 USAA 2010 REPORT TO MEMBERS
USAA IS YOUR ALLY INSUPPORTING THE MILITARYIn 2010, USAA deepened its ties with the militarycommunity by forging affinity relationships with adiverse range of military associations and organizations.As the financial services provider of choice for manyof these groups, USAA can now deliver best-in-classproducts and services to their members. USAA alsosupports the organizations and their efforts to serveveterans who have honorably served, active-dutymilitary and their families.So far, USAA has formed alliances with thesemilitary-related groups:Air Force Association • Air Force Sergeants Association • Associationof Graduates of the United States Air Force Academy • Associationof the United States Navy • The Enlisted Association of the NationalGuard of the United States • Marine Corps Association • MilitaryOfficers Association of America • Naval Aviation Museum Foundation •Non Commissioned Officers Association • Naval Enlisted ReserveAssociation • Texas Aggie Corps of Cadets Association • The AmericanLegion • U.S. Naval Institute • Wounded Warrior ProjectLETTER FROM THE CHAIRMANUSAA demonstrated in 2010 that putting members firstcan lead to outstanding financial performance — despitea shaky economy that is slowly emerging from the worstrecession in recent decades.While other companies struggled againsteconomic headwinds, USAA maintainedits reputation for the best customerservice, added members, strengthenedits financial foundation and offered newproducts and services to help memberswork toward their financial security.How did USAA accomplish this? Forstarters, President and CEO Joe Roblesand his management team have pursueda clear mission to make USAA the financialservices provider of choice for themilitary community and their families.To that end, in 2009, USAA extendedmembership to all those who havehonorably served in the U.S. military.Meanwhile, we’ve continued deepeningour relationships with existing membersby rolling out innovative new productsand service channels, and investing inpeople and technology to provide evenbetter member service.NET NEW INVESTMENTS BY MEMBERS(in billions)2010 $7.12009 $6.92008 $3.6You have responded by trustingUSAA with your hard-earned money,bringing nearly $7.1 billion in net newassets to USAA in 2010. We now havemore than $147 billion in owned andmanaged assets.Thank you for the nearly800,000PHONE CALLS, E-MAILS AND LETTERSTO SENATORS — HELPING PRESERVE THE WAYUSAA DOES BUSINESS.Our financial strength has contributedto our position as a corporate leader.USAA now ranks 132 nd on the FORTUNE500 ® annual ranking of America’s largestcorporations, and USAA is the onlyproperty and casualty insurance groupleft standing that retains the highest ratingsfor financial strength from A.M.Best, Moody’s and Standard and Poor’s.USAA’s strength is manifest not only inour financial capacity but also in the wayour members look out for one another.And this was never more evident thanin 2010, when a late change to federalfinancial-reform legislation threatenedto change the way USAA does business.Members mobilized by sending nearly800,000 phone calls, e-mails and lettersto their senators. We can’t thank youenough for an amazing response thatfavorably changed the outcome of potentiallyrestrictive legislation for USAA.We’ll continue to be vigilant for otherregulatory threats that might impactour members.This report — like USAA itself —is less about USAA than it is about themembers we serve. We will endeavorto continue to deliver the service thatyou, our members — including the finemen and women who put their liveson the line for our country — deserve.John H. MoelleringLt. General, USA (Ret.)Chairman of the BoardSee legal information on Page 21. USAA 2010 REPORT TO MEMBERS 7
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 10 and 11: USAA’S MISSIONThe mission of the
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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