Editing USAA (section)

==History==
The organization was originally called the '''United States Army Automobile Association'''. In 1924, the name was changed to '''United Services Automobile Association''', when commissioned officers of other U.S. military services became eligible for membership. The company was formed based on a meeting of 25 United States Army officers on June 20, 1922, at the [[Gunter Hotel]] in San Antonio, Texas, to discuss the procurement of reliable and economical auto insurance. Despite initial success, by the late 1920s, a dispute between competing factions for control of the company threatened its long-term viability. The issue was resolved when feuding members agreed to hire a leader from outside, resulting in the 1928 appointment of Major General [[Ernest Hinds]] as general manager and secretary-treasurer. Hinds provided stability and remained in the position until his death in 1941.<ref name="Universe">{{cite news |title=USAA History |url=http://www.fundinguniverse.com/company-histories/usaa-history/ |work=Funding Universe.com |access-date=July 1, 2021}}</ref>

USAA is a pioneer of the concept of [[direct marketing]]; most of its business is conducted over the Internet or telephone using employees instead of agents. Until the 1960s, the bulk of its business was conducted via mail. In the late 1960s, USAA began a transition from mail to phone-based sales and service. It launched a toll-free number in 1978, and Internet sales and service in June 1999 via its website.<ref>{{cite web |title=Board of Governors of The Federal Reserve System "Cash, Check or Cell Phone?" |url=https://www.federalreserve.gov/communityaffairs/national/2010mobile/presentations/Panel%202%20Victor%20Pascucci.htm |website=www.federalreserve.gov |access-date=12 July 2022 |language=en |date=23 February 2010}}</ref>

USAA offered restricted membership to civilians between September 2009 and August 2013. This membership provided access to USAA's investment products, most bank deposit products and life insurance. Auto and property insurance policies were not included for non-military members due to eligibility restrictions.<ref>{{cite news| title=USAA Membership: USAA Now Open To Non-Military Folk!| url=http://www.budgetsaresexy.com/2009/09/usaa-now-open-to-non-military-folk/| date=2017-12-06| archive-url=https://web.archive.org/web/20140912210935/http://www.budgetsaresexy.com/2009/09/usaa-now-open-to-non-military-folk/| archive-date=2014-09-12| journal=Budgets Are Sexy!| access-date=2020-09-10}}</ref>

In 2015, USAA employed more than 32,000 people at its offices throughout the world.<ref>{{cite web| url=https://www.usaa.com/inet/wc/reporttomembers_main_landing#tab1| title=USAA 2015 Report to Members| website=USAA| access-date=2016-05-03| archive-url=https://web.archive.org/web/20160420054909/https://www.usaa.com/inet/wc/reporttomembers_main_landing#tab1| archive-date=2016-04-20| url-status=live}}</ref>

On July 26, 2019, the [[Charles Schwab Corporation]] announced it would acquire USAA's investment management and brokerage accounts for $1.8 billion.<ref>{{cite news| url=https://www.cnbc.com/2019/07/26/charles-schwab-to-buy-usaa-assets-in-1point8-billion-deal.html| title=Charles Schwab to buy USAA assets in $1.8 billion deal| last=Cullen| first=Terri| date=2019-07-26| work=[[CNBC]]| language=en| access-date=2019-11-25}}</ref> The deal with Charles Schwab closed on May 26, 2020.<ref>{{cite news |last1=Santana |first1=Steven |title=Schwab completes purchase of USAA Investment Management |url=https://www.bizjournals.com/sanantonio/news/2020/05/26/charles-schwab-completes-purchase-of-usaa-invest.html |access-date=2020-09-03 |newspaper=[[American City Business Journals|San Antonio Business Journal]] |date=2020-05-26}}</ref>