USAA

USAA is a member-owned financial services company that serves active-duty military personnel, veterans, and their eligible family members across the United States. As of November 2025, it offers a full suite of insurance, banking, credit, investment, and retirement products, allowing members to manage most of their key financial needs with a single institution focused on the military community.[2]

The company was founded in 1922 by a small group of Army officers who could not secure auto insurance through traditional carriers and chose to insure one another instead.[2] That mutual, member-based origin has shaped USAA’s culture and operating model for more than a century, emphasizing prudent risk management and long-term relationships with a clearly defined member base rather than broad mass-market scale.[2] Over time, what began as an auto insurer grew into a diversified financial platform, adding property and casualty coverage, life insurance, and eventually banking and investment services while preserving its focus on military families.[2]

A notable milestone in USAA’s growth was its shift from a single San Antonio office to a multi-city footprint that now includes large offices in several U.S. markets and select overseas locations.[2] This broader platform has supported a member base of roughly 14 million and a workforce exceeding 38,000 people worldwide, while the company has continued to position itself as a focused provider rather than a typical branch-based retail bank.[2] Over the last five years, USAA has leaned heavily into digital channels and remote service delivery, which has allowed it to expand product breadth and member reach without building out a dense retail branch network.[2]

From a real estate standpoint, USAA behaves more like a major corporate office occupier than a consumer branch tenant, which is central to how landlords, brokers, and developers interact with the brand.[2] Its physical footprint is anchored by large, campus-style headquarters and significant operations centers in business-friendly markets such as San Antonio, Phoenix, Tampa, and Colorado Springs, complemented by a smaller number of branded financial centers that handle in-person support and advice.[2] These locations are typically established as long-term plays in areas with strong labor pools, transportation access, and durable business environments, and they often sit within major office parks or suburban campuses that can accommodate technology, back-office, and customer service functions at scale.[2]

As of November 2025, USAA has approximately 40 physical locations, reflecting a strategy that favors substantial office and campus sites over a broad network of small branches.[2] Rather than pursuing rapid retail-style rollout, the company continues to invest in technology, workforce, and key operations hubs that support its growing member base and deepen its roots in markets with significant military and veteran populations.[2] For owners and developers focused on large, mission-critical office and operations assets, this translates to a tenant with established financial strength, a long operating history, and a track record of sustained investment in its core campuses and regional centers.[2]