USAA Delivers Advice, Financial Assistance as Government Shutdown Continues
USAA Delivers Advice, Financial Assistance as Government Shutdown Continues
Association Has Provided Over $300 Million in Loans and Other Relief to 90,000+ Members
SAN ANTONIO--(BUSINESS WIRE)--As the government shutdown enters its third week, USAA is urging its impacted military and federal employee members to continue taking proactive steps to protect their financial well-being. With more than $300 million in relief already provided to over 90,000 members, the Association remains fully engaged in helping those affected navigate this period of uncertainty.
“We know the weight that uncertainty can bring, especially for those who serve....that’s why we’re here—not just as a bank, but as a trusted and valued partner."
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USAA, which serves more than 14 million members, has activated a broad support program that includes loans, flexible payment and fee arrangements, and personalized financial guidance. These efforts are aimed at providing immediate relief and empowering members with the tools and advice to feel confident about their longer-term needs. USAA is extending this program through the next pay period and will continue to make changes in response to ongoing developments.
“We know the weight that uncertainty can bring, especially for those who serve,” said Michael Moran, President of USAA Federal Savings Bank. “That’s why we’re here—not just as a bank, but as a trusted and valued partner, ready to listen, guide and support you every step of the way.”
To date, USAA has provided more than $300 million in financial relief to its members, including:
- Approximately 82,000 loans to support members experiencing paycheck disruptions, totaling over $294 million
- Over 11,100 consumer loan payment extensions, helping members free up $15 million for more immediate needs
- More than 7,600 credit card payment extensions, totaling $2.8 million
- Waived or refunded overdraft fees for nearly 33,000 deposit accounts
In addition to financial assistance, USAA is offering guidance to help members manage their resources wisely during the shutdown. Members are encouraged to:
- Focus on essential needs like groceries, mortgage payments, and utilities
- Use financial accounts in a strategic order, such as withdrawing from a savings account before a CD or 401k, to avoid penalties and preserve long-term goals
- Contact financial institutions early if facing payment challenges
- Tap into emergency savings if available, with the expectation of back pay once the government reopens
USAA also reminds members that they are not alone. The Association continues to support military aid societies that provide emergency financial assistance, education support, and other vital resources. Since 2016, USAA has contributed more than $40 million to these organizations that play an important role during these times.
Information on how to contact those organizations, learn about financial strategies and available visit usaa.com/advice or access USAA’s relief resources at usaa.com/relief.
About USAA
Founded in 1922 by a group of military officers, USAA is among the leading providers of insurance, banking and retirement solutions and serves 14 million members of the U.S. military, veterans who have honorably served, and their families. Headquartered in San Antonio, USAA has offices in eight U.S. cities and three overseas locations and employs more than 38,000 people worldwide. Each year, the company contributes to national and local nonprofits in support of military families and communities where employees live and work. For more information about USAA, follow us on Facebook, Instagram or X (@USAA), or visit usaa.com.
