San Antonio-Based Insurer USAA Plans To Close Financial Centers In Ten States

SAN ANTONIO, TX -- Officials at insurance and financial services giant USAA announced Thursday they plan to close 17 of their 21 financial centers throughout ten states and Washington, D.C. next year, resulting in the loss of more than 100 jobs.

USAA told the San Antonio Express-News the closures are occurring as more members rely on their mobile apps and website to handle their financial affairs. Only fraction of its 11.7 million members -- roughly 2.5 percent -- use the physical financial centers in handling their financial affairs, spokesman Matt Hartwig told the newspaper.

The company said the closures are expected to occur between April and June. Company officials said the shuttering of the offices would affect some 140 jobs, although efforts will be made to transfer them to other positions within the company.

In San Antonio, a pair of centers slated for closure are the Alamo Ranch Shopping Center at 5619 Loop 1604 and at the Market Forum at 14975 Interstate 35 in Selma.

However, the financial center located in the lobby at the USAA Federal Savings Bank on the company's main campus in San Antonio will remain open. Centers operating near military academies -- in Annapolis, Md.; West Point, N.Y.; and Colorado Springs, Colo. -- will remain open, Hartwig told the newspaper.

Read the full story at San Antonio Express-News >>

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