Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Life Insurance

USAA Teams With Federal Credit Union

By Trevor Thomas

X
Your article was successfully shared with the contacts you provided.

USAA has struck a deal to offer its products and services to members of Pentagon Federal Credit Union (PenFed).

The alliance is one of a number of affinity deals USAA has forged since it recently opened up its membership qualifications, says Eric Smith, president, USAA Life Insurance Company, a division of United Services Automobile Association, San Antonio, Tex.

PenFed, Alexandria, Va., is the first bricks-and-mortar affinity institution it has partnered with, he adds.

Membership in USAA, formerly available only to military people and families and to those who signed up before they left active duty, last year opened up to anyone who has served in the military as well as their descendents. The main condition: The initial member must have been honorably discharged.

“We now have the potential for tremendous growth over the next 10 years,” says Smith.

The alliance with Penn Fed is one result of that move, allowing USAA to offers its broad lines of insurance as well as investment products and other services to the credit union’s members.

The company’s services will be available in PennFed branches from video booths and, in some locations, through live USAA agents, Smith says.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.