Swot Analysis for Usaa

Management 303 SWOT Analysis on USAA Savings Bank element I- Organizational History USAA Savings Bank has been around for a long time believe it or not. In 1922 USAA was origin whollyy founded in San Antonio, Texas when 25 Army officers decided to come together and insure for each one others automobiles. William Garrison was USAAs beginning(a) elected president. Shortly after that USAAs first employee was Harold Dunton, who was hired as a general manager. Major Walter Moore purchased the first automobile insurance policy for $114. 4 and became USAAs first member. Two years later in 1924 USAA printed their first credo. The company motto was attend to to the Services. 1928 was the year that USAA started advertising 8,000 active component service members among 38,000 possible. In 1929 things started turning for the worse, as the stock merchandise crashed and the large(p) Depression followed shortly after. By the end of the 1920s USAA earned a net amplification of $144,000 before dividends. From 1930s on up USAA has been incredibly successful. 931-1940 USAAs employee population grows even through the Great Depression. Employee poesy sky rocketed and doubled, from 46 to 99. The companys membership doubles from 15,000 to 30,000, despite the ongoing subtle economic times. 1932 the first Annual Report to its members was established and published. A year later USAA exceeds minimum arrest holdings mandated by the Texas Board of Insurance Commissioners and returns $230,000 to members. In 1934 Stuart Gwyn is the first woman to join USAAs management team. USAA have to having 60% of all eligible U.S. military officers become members in 1936 while also being commensurate to end the decade with a net profit of $643,000 before dividends. Section II- Strengths and Weaknesses Some of USAAs galore(postnominal) fortissimos come in numbers. USAA ranks 62nd in net deserving among Fortune 500 companies and 144th for revenue, the company has proven to be a very financia lly strong organization. Our net worth owned and managed assets, revenue, net income and membership all increased and continues to grow. In addition, member satisfaction and customer service remains consistently high.USAA produced colossal numbers as far as Net worth goes. From 2008 earning $14. 6 billion in net worth to $17. 0 in 2009, $18. 7 in 2010, $20. 0 billion and so far over $21. 3 billion. These numbers only keep getting better. Some of USAAs highlights as of June 30, 2012 in appends 9. 1 cardinal in Total members, the company now offers a total of 38 million products, and a total of 23. 7 thousand employees. Classifications go as follows 28th largest bank, 5th largest homeowners insurance, 8th largest credit card provider, and sixth largest auto insurer.USAAs property and casualty insurance group received high ratings for financial strength from three of the major agencies-A. M. Best, Moodys and standard & Poors. A. M. Best Company gave USAA an A++ (superior, highest of 16 possible ratings). Moodys Investors Service gave USAA an Aaa (Exceptional, highest of 21 possible ratings). Standard & Poors gave USAA an AA+ (Very strong, second highest of 21 possible ratings). Wards 50 Placed USAAs P&C Insurance Group on the Wards 50 list, which is a benchmarking group of top-performing insurance companies, for 22 consecutive years. 2012). IDC Financial Publishing Inc. gave USAA 111 consecutive Superior ratings as of 2012s 1st quarter for USAA federal official Savings Bank. Thomson Reuters Bank Insight (formerly Highline Banking Data Services) rated USAA in the Top 15% of peer group as of 1st quarter 2012. These are all considered strengths for USAA because they are all astonishing milestones for the USAA Federal Savings Bank. It has helped trebucket the company to where it is today. Everybody that has USAA loves it bottom line.