San Antonio-Based Banking Giant USAA to Make $30M Donation to Military Family Relief Programs


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San Antonio-based financial services giant USAA will make a $30 million donation — the largest in its history — to benefit military families struggling during the COVID-19 pandemic.

The donation, announced Friday, will be parceled out to 24 organizations that assist with financial emergencies, virtual schooling costs and college educational expenses via emergency grants and no-interest loans.

“Caring for military families is our passion, whether it’s through serving our members or supporting military-related causes,” USAA President and CEO Wayne Peacock said in a release. “We hope this contribution provides vital, long-lasting support to the military community at a time when they are essential to our nation’s recovery efforts.”

Recipients of the grants and loans will include U.S. military aid organizations such as the Navy-Marine Corps Relief Society, Air Force Aid Society and the American Red Cross Service to the Armed Forces.

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