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.