Retail bank integrates bitcoin service
Luke Parker, 17 Mar 2016 - Adoption, Banking, Bitcoin
Founded by a group of U.S. Army officers in 1922, the United Services Automobile Association (USAA) now has over 23,400 employees in offices throughout the country, and assets of over US$70 Billion in 2015.
The Fortune 500 diversified financial services group of companies offers banking, investing, financial advice, and insurance products, and is currently the sixth largest provider of auto insurance in the US, with over five percent of the national market share.
Full membership was only available to enlisted officers in the armed forces until 1996, although financial products like life and home insurance had been marketed to the public for decades. After 1996, the group opened up to active military, former military, their families, and cadets or midshipmen.
USAA had 10.7 million customers, spread across 19 major markets, by the end of 2014. The only physical branch is in the group's hometown, San Antonio, Texas. Banking is primarily done online through USAA Federal Savings Bank, which has a convenient Mobile App where members can send money, get proof of insurance, pay bills, and deposit checks.
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