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USAA has expanded its customer base to include all honorably discharged veterans and their families, making about 35 million more people eligible for membership.
USAA's services include insurance, financial planning, investments and banking products.
After gradually expanding eligibility over the years, the company opened its doors in 2008 to veterans honorably discharged since 1996 — in addition to active-duty members, National Guard and reserve personnel, and military retirees.
This latest move increases its total customer base to about 60 million.
"We think we can now handle this comfortably with financial strength and great customer service," said retired Army Maj. Gen. Joe Robles, president and chief executive officer of USAA.
While some other financial institutions have failed or had serious problems in the last year or so, USAA has done well during the economic downturn, Robles said.
"We did well last year and even better this year," he said.