A large consumer bank within a wider member organization
USAA Federal Savings Bank, FDIC certificate 32188, ranked thirty-first by assets at June 30, 2026 among domestically chartered FDIC-insured banks and savings institutions, including U.S. territories and excluding foreign-bank branches and uninsured institutions. [2]
The legal bank reported $106.188 billion in assets, $91.971 billion in deposits and $44.322 billion in net loans and leases. These amounts exclude the broader USAA group. [1]
The FDIC’s institution directory separately lists USAA Savings Bank in Las Vegas, certificate 34351, as inactive. It is not the legal bank whose June financials are analyzed here. [10]
The June 2026 capital disclosure identifies USAA Capital Corporation as the bank’s direct owner and United Services Automobile Association as the ultimate parent. The latter is a reciprocal insurance exchange. No insurance subsidiaries sit inside the bank’s consolidated group. The disclosure distinguishes an Arizona designated home office from a San Antonio, Texas operating headquarters, explaining why the FDIC record identifies Phoenix while customer materials often refer to San Antonio. [3]
Military affiliation shapes customers and delivery
The bank’s current product range includes checking, savings, certificates of deposit, credit cards, auto and other consumer loans, and mortgages. Its membership description centers on military service and family connections, including active-duty personnel, reservists, honorably served veterans and eligible spouses and children. That customer definition is central to the franchise: it is a national affinity-based retail business rather than a conventional local branch market. [4]
The mobile channel supports check deposits, transfers and bill payment, while the bank advertises access to more than 100,000 preferred-network ATMs. These functions make account access portable when customers move or serve away from home. The analytical tradeoff is dependence on dependable identity verification, remote servicing and transaction processing. Broad ATM access is not a count of bank-owned branches, and product availability is not evidence that every member uses the full suite. [4]
Deposit funding and the meaning of a loan ratio
Deposits equaled 86.6% of assets, and net loans and leases equaled 48.2% of deposits, calculated from June balances. Customer lending therefore did not use the entire deposit base. These ratios do not identify the maturity or immediate of other assets, the insured deposit share, or sensitivity to competing rates. A large deposit base does not establish that funding cannot move. [1]
Membership value is different from bank profitability
USAA’s 2025 member-report highlights describe checking and savings without monthly service fees and estimate nearly $136 million in ATM-fee savings for bank members. The same report gives 14.3 million members and a 96% retention figure for USAA overall. Those group measures are not bank account counts or bank-specific retention statistics. [5]
The economic proposition combines convenient everyday access with a relationship that can also support borrowing. Removing a monthly account fee does not mean every service is free, nor does a company estimate of avoided fees measure bank profit. The relevant distinction is between customer value, revenue earned on a relationship and the operating cost of delivering that service reliably. [5]
Overdraft design connects pricing to processing
The current USAA Safety Net disclosure describes a standard-overdraft setting for eligible checking accounts, subject to the bank’s discretion to pay. It states that no overdraft fee is charged when the end-of-business-day overdraft is $100 or less, or for transactions of $5 or less. Its refund window requires the available balance to reach at least negative $100 by the next business day’s applicable cutoff, excluding overdraft fees. [6]
An alternative Auto-Decline setting generally rejects or returns insufficient-funds transactions without a bank overdraft fee, although a merchant may impose its own charge. Optional protection can transfer funds from another eligible account; using a credit card can carry fees. These are different mechanisms. A balance display, funds availability, the posting sequence and deposit cutoff can determine the result even when two customers deposit the same nominal amount. This is an operating dependency, not evidence of a current processing failure. [6]
Service-member relief and mortgage specialization
USAA says it caps interest at 4% on qualifying accounts under its enhanced military-benefits program, compared with the federal SCRA’s standard 6% protection for eligible pre-service debt. Its support page explains that qualifying service, account timing and verification matter, and that it checks active-duty status against Defense Manpower Data Center records. The advertised benefit is not a universal rate available to every borrower or every loan. [7]
For this franchise, servicing includes applying the correct military status to the correct account and time period. Changes in a borrower’s eligibility can affect rates and fees independently of ordinary credit underwriting. The business significance is the need to combine consumer-loan administration with a customer population whose service circumstances may change; the product promise alone cannot establish whether those processes work consistently. [7]
The mortgage range includes conventional and VA purchase lending, refinancing and a low-down-payment HomeReady option. These offerings extend the relationship into a large, long-duration household obligation. A mortgage origination channel, however, does not establish how much lending the bank retains, sells or services for others. The product page supports the available routes to borrowing, not a market-share estimate or a mortgage credit-quality conclusion. [8]
Capital measures and supervisory history answer different questions
At June 30, 2026, the bank reported a standardized common-equity Tier 1 ratio of 16.9% and leverage ratio of 9.3%. The former uses ; the latter uses adjusted average assets. Its capital reconciliation includes adjustments for accumulated other comprehensive losses, so regulatory capital cannot be substituted for accounting equity. Neither ratio establishes that an operational deficiency has been remediated. [3]
On December 18, 2024, the OCC announced a comprehensive cease-and-desist order replacing its 2019 and 2022 orders and carrying forward unresolved requirements. The agency cited management, earnings, technology, consumer-compliance and internal-audit deficiencies, suspicious-activity reporting violations, and heightened-standards noncompliance. It also described limits on certain new products, services and expansion of membership criteria. These are dated agency findings and requirements. [9]
The replacement matters because termination of predecessor orders was not a declaration that all earlier issues were fixed. The operating implication is that product development and remediation may draw on the same technology, data and management capacity. This profile did not establish the replacement order’s complete current legal status or verify a subsequent termination as of October 5, 2026. It therefore makes no claim that every 2024 requirement remains outstanding or has been closed, and does not infer a confidential supervisory rating. [9]
Sources
- FDIC — USAA Federal Savings Bank, June 30, 2026 bank financials; dollar fields in thousandsOfficial sourceBack to text: ↑1↑2
- FDIC — June 30, 2026 descending-asset inventory; domestically chartered insured-bank rankingOfficial sourceBack to text: ↑
- USAA Federal Savings Bank — June 2026 Pillar 3 disclosure, legal structure and capital, pages 1–9Source · PDFBack to text: ↑1↑2
- USAA — banking products, membership and digital channels; checked October 5, 2026SourceBack to text: ↑1↑2↑3
- USAA — 2025 Annual Report to Members, HTML highlightsFiling / reportBack to text: ↑1↑2↑3
- USAA — overdraft options, fees and tools; checked October 5, 2026SourceBack to text: ↑1↑2
- USAA — SCRA benefits for service members; checked October 5, 2026SourceBack to text: ↑1↑2
- USAA — home mortgage product range; checked October 5, 2026SourceBack to text: ↑
- OCC — comprehensive cease-and-desist order announcement, December 18, 2024Official releaseBack to text: ↑1↑2
- FDIC, USAA institution identities and active/inactive status; checked October 5, 2026Official sourceBack to text: ↑