My wife and I received our Subscriber Savings Account letter from USAA yesterday. USAA is a member owned financial institution, so if you are a member of USAA, you actually own a portion of the company. The Subscriber Savings Account is one way in which USAA shares its profits with its members.
I think it is a testament to USAA’s strength that they are able to give back to its members this year, especially in light of the current economic crisis and the natural disasters we saw this year, including floods in the midwest, Hurricane Ike in the Gulf of Mexico, and the wildfires in California.
Subscriber Savings Account distributions were made on 12-08-2008, so you should already have it within your SSA. While the money in your SSA is your money and no longer belongs to USAA, they do maintain possession of it in the even that the money is needed to settle claims or other insurance settlements. USAA members are not able to make deposits or withdrawals to their Subscriber Savings Accounts. When you decide to no longer use USAA forinsurance, you will then receive the contents of your SSA.