USAA one of ‘World’s Most Admired’ companies per Fortune
One San Antonio based business joined 16 other Texas companies in Fortune’s 2021 rankings for “Most Admired Companies,” despite experiencing a scandal filled 2020.
USAA bank came in at number 27 on the magazine’s 2021 rankings and was the only San Antonio-based company to make the list of top 50 companies.
Despite positive moves in the past year like donating to the San Antonio Food Bank, the major bank has received its fair share of negative press.
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In January, USAA reported a 10.1 percent yearly employee bonus despite nearly normal profit during the pandemic. They also indirectly supported the rejection of presidential electoral votes — USAA donated $457,000 to congressional Republicans who voted against the Electoral College results.
Last year USAA also kept portions of some members’ federal stimulus checks if their accounts were overdrawn or had a negative balance. In October of 2020, federal regulators dropped USAA’s grade to “failing” and hit the bank with an $85 million fine, citing “discriminatory or illegal credit practices.”
RELATED: USAA slashes yearly employee bonuses despite nearly normal profit
The top 50 spots were also dotted with other Lone Star state companies, like Dallas-based Southwest Airlines, Westlake-based Charles Schwab, and Irving-based Kimberly-Clark.
The top-rated companies were picked from that pool of 670; the executives who voted work at the companies in that group.
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