CEO: W. Wayne Peacock
Year of foundation: 1922
The head office: San Antonio, TX
Turnover (2021): $37.4 billion
Profit | Net revenue (2021): $3.3 billion
Products: Bank | Insuranceǀ Financial Services
Competitors: GEICO ǀ Progressive Insurance ǀ State Farm Insurance ǀ MetLife ǀ Allstate
Did you know? USAA began when 25 Army officers came together to develop a type of insurance to insure each other through a group effort.
USAA has been around for almost 100 years now, and the origins were to serve the needs of the financially neglected faction of the community. The company has managed to stay focused and always stick to its motto. As it matured, it continued to diversify its reach to members of various communities in the United States.
In addition to serving the community, USAA also believes it has a responsibility to the environment in which it operates. This is one of the reasons why the company has already demonstrated its commitment to meeting its company obligations. The primary objective is to improve the quality of life through various projects.
USAA annual revenue hit $37.4 billion.
The in-depth analysis of USAA’s mission statement, vision, core values, and sustainability goals in this review will show you the reason for the fingiant’s success.
USAA Mission Statement
“To provide excellent service to our members, we are financially strong.
USAA Mission Statement Analysis
USAA’s mission statement is to provide excellent service to its members. The company believes that the only way to be strong is when customers are financially strong as well as the brand. Here is an analysis of USAA’s mission statement.
The company has always maintained its position that it has obtained its the interests and benefits of members at heart. Therefore, one can divide the mission statement into the following components.
Of course, all companies are in the game for the money. However, the USAA has always succeeded in prioritizing its members. The company ensures that everything it does should benefit the members. This shows the customer-centric model followed by USAA. No wonder the company has managed to survive an entire century and continues to go from strength to strength.
The mission statement also shows that USAA believes in a win-win situation for itself and its members. This explains the part of the mission statement, “We are financially strong.“Also, it can be an indicator that the company plans to do well in order to be able to benefit its members as well. Reason to believe is legacy behavior demonstrated by the USAA time and time again that the company has a culture of giving back to the community.
With annual revenue of $40.1 billion, USAA has certainly exceeded industry expectations. The company also made a profit of $3.3 billion while returning $2.0 billion to its members. These are amazing numbers as the company continues to serve its members and invest in ways that help both parties grow.
USAA Vision Statement
USAA has a vision statement that says,
“Serve millions of military members and become one of the only fully integrated financial services organizations in America.
USAA Vision Statement Analysis
Almost all the intentions of this statement clearly help to break down the vision statement into the following components.
- Leader in the industry
The vision statement indicates that USAA has a desire to become a leader in the financial industry. The company also claims to do so by offering some of the nation’s most holistic financial services and solutions.
While the Department of Veterans Affairs is known to serve military personnel, USAA wants to serve veterans and active duty members as well. This part of the vision statement is another aspect of offering fully integrated services. This means that USAA wants to not only offer traditional banking solutions and financial services, but also design unique programs for the United States Armed Forces.
- All-inclusive financial services
The fact that USAA has already completed 100 years in the industry proves that the company is doing something right. Therefore, offering financial services that can meet the needs of almost every community in the country seems like the right thing to do.
After all, USAA started with the concept of helping those who are overlooked by mainstream financial services. Therefore, the company has included a message in its vision statement that it will continue to offer financial assistance to those who are probably not as lucky as some.
USSAA already offers banking, insurance and future investments. However, the company has already started diversify your field of action services and operations to include other finance-related services, including shopping trips, etc.
USAA Core Values
USAA operates on four core values that act as pillars of the company’s mission and vision for the future. The quick analysis of these core values is as follows.
The company wants to lead by example and include all factions of the community on its membership roster and benefit them equally.
USAA aims to provide only top-notch financial services to its members, whoever they are and what they do across the country.
USAA has always been transparent and honest about how the brand conducts business. This has helped the company gain the respect of its members.
Since USAA opened its doors, the company has always operated without compromising its core values and promises. Simple operations, along with upholding the commitment to give back to its members and the community, shows how the company always demonstrates dedication to its core mandate of serving its members. .
The company also has a environmental commitment because it operates on a green business approach. Therefore, it is safe to say that the company’s vision statement to integrate all services includes environmentally friendly and sustainable practices to reduce its carbon footprint as well.
References and more information
- USAA, About USAA, USAA
- USAA, Company Presentation, USAA
- USAA, 2021 Annual Report to Members, USAA
- USAA, USAA History, USAA
- USAA, Corporate Responsibility, USAA
- Image selected by Stijn Swinnen
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