TAMPA — USAA, which provides financial services to members of the military and their families, is undergoing its largest expansion of eligibility in its 87-year history.
The San Antonio, Texas, company currently is open to about 25 million military members and their families. Under the expansion announced Thursday, more than 18 million U.S. military veterans and their 17 million family members will be eligible for financial services and insurance through the company.
"My own brother-in-law fought in Vietnam and couldn't get in before," said Robert Hoyland, vice president and general manager of USAA's Tampa-based Southeast region. "He's the first call I'm going to make to say, 'You can join now.' "
USAA began as an officer-only association in 1922 and opened to active-duty, enlisted personal in 1996. The latest expansion includes anyone who ever served honorably in the military, peacetime or wartime, regardless of years of service.
USAA, which has 7.3 million members, ranks as the fifth-largest auto insurer, seventh-largest homeowners insurer and eighth-largest credit card issuer in the country.
In Florida, USAA's third-largest market behind California and Texas, some of its members have gravitated to the insurer in particular for homeowners insurance. Hoyland said it's unclear what impact the change will have on expanding its homeowners insurance niche. Taking on additional risk in the hurricane-susceptible market would have to be studied and approved by state regulators, he said.
In October, the company said it would be adding 200 jobs to its Tampa operation at 17200 Commerce Park Blvd., bringing the number of local employees to nearly 2,000. The positions will be posted on www.usaa.com.
Jeff Harrington can be reached at jharrington@sptimes.com or (727) 893-8242. Follow him on Twitter at twitter.com/JeffMHarrington.
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