Forbes has named USAA Federal Savings Bank the nation’s second-best bank, putting it ahead of big names in the industry.
This marks the 10th year in a row that the San Antonio-based bank has landed in the magazine’s top 10.
“We continuously strive to provide exceptional value and service to our members,” USAA Bank President Michael Moran said in a statement provided to the Express-News. “Every day, our members’ well-being is our top priority, and this recognition reflects the importance of that focus on our members.”
The Forbes list names San Francisco-based SoFi in the top spot.
USAA has roughly 14 million members nationwide, comprised of military personnel, veterans and their families. On the national stage, the enterprise beats out bigger names including Chase, which ranked 10th, and Bank of America, which ranked 55th.
San Antonio-based Frost Bank came in at No. 25.
Other Texas banks on the list include Westlake-based Charles Schwab (No. 14), The Woodlands-based Woodforest National Bank (No. 18), Lubbock-based City Bank (No. 47), Laredo-based IBC Banks (No. 48), Dallas-based Comerica (No. 58) and Killeen-based First National Bank Texas (No. 61).
To create the ranked list, Forbes partnered with market research firm Statista to survey 54,000 people worldwide on their banking experience based on the categories of trust, financial strength, customer service, terms and conditions, digital services and quality of financial advice.
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