USAA Stands with Our Communities to Provide Support Amid Devastating Texas Floods
SAN ANTONIO, July 05, 2025--(BUSINESS WIRE)--As first responders continue their efforts amid destructive flooding in Central Texas, USAA has committed $500,000 in philanthropic grants to help with search and recovery efforts and will activate employee volunteers to serve local communities.
"The destruction and loss we are seeing in Texas is heartbreaking, and our thoughts and prayers are with everyone affected, especially the families of those who have lost loved ones and those who are still waiting to hear news," said Juan C. Andrade, President & CEO of USAA. "We have been part of this community for more than 100 years and we will show up with action, compassion and a willingness to help our neighbors and our members recover and rebuild. We are grateful to first responders for their ongoing and tireless efforts."
USAA has committed $500,000 across multiple organizations to immediately respond to this event, including Community Foundation of the Texas Hill Country, Texas Search & Rescue, Red Cross and Salvation Army. Funding to these organizations addresses needs, including emergency sheltering and feeding, ground search and rescue, aerial search and disaster recovery assistance. This support is in addition to the $1.3 million that the Association has already committed this year to proactively provide support to organizations to serve our communities.
With more than 17,000 employees in the San Antonio area, USAA also is activating its volunteer programs to work alongside Team Rubicon, a veteran-led disaster response organization, and other organizations on the ground.
"Our mission to serve includes supporting the communities where we live and work. Service is in our DNA, and this is where the USAA family shows its heart," said Andrade. "This weekend's events are a reminder of how quickly lives can change and how important it is to support one another whenever and however we can."
For those who would like to assist, please visit Community Foundation of the Texas Hill Country.
About USAA
Founded in 1922 by a group of military officers, USAA is among the leading providers of insurance, banking and retirement solutions and serves 14 million members of the U.S. military, veterans who have honorably served and their families. Headquartered in San Antonio, USAA has offices in eight U.S. cities and three overseas locations and employs more than 38,000 people worldwide. Each year, the company contributes to national and local nonprofits in support of military families and communities where employees live and work. For more information about USAA, follow us on Facebook, Instagram or X (@USAA), or visit usaa.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250705974873/en/
Contacts
USAAexternal_communications@usaa.com
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
33 minutes ago
- Yahoo
Social Security no taxes message on Trump bill raises eyebrows
President Trump's 'big, beautiful bill' is sending mixed messages about whether most Americans are required to pay federal income taxes on their Social Security benefits. 'It's a mixed bag for seniors, because some seniors will get some tax relief; the cost of that, though, is borne by the entire Social Security system,' Alex Lawson, executive director of left-leaning advocacy organization Social Security Works, told USA Today. The bill, which Trump signed into law on Saturday, included a $6,000 tax deduction for Americans 65 or older. After Congress passed the bill on Thursday, the Social Security Administration said the legislation 'delivers long-awaited tax relief to millions of older Americans.' 'The new law includes a provision that eliminates federal income taxes on Social Security benefits for most beneficiaries, providing relief to individuals and couples,' the Thursday press release said. 'Additionally, it provides an enhanced deduction for taxpayers aged 65 and older, ensuring that retirees can keep more of what they have earned.' However, policy experts are concerned that the bill does not include a provision to eliminate federal income taxes on Social Security benefits. 'There is no provision in the budget bill that directly 'eliminates' or even reduces taxes on Social Security benefits,' Howard Gleckman, senior fellow at the nonpartisan Tax Policy Center, told the Washington Post. Trump's bill offers a tax deduction of $6,000 to seniors making up to $75,000 individually, or $150,000 on a joint return. The deduction is lowered for incomes above that level and axed for seniors with individual incomes of more than $175,000, or $250,000 jointly. However, the new deduction for seniors is set to expire within a couple of years. The median income for seniors in 2022 was about $30,000. 'The people who benefit by definition have to be richer, and people who benefit the most are the richest people,' Bobby Kogan, senior director of federal budget policy at the Center for American Progress, told CBS News. Before the megabill's passing, 64 percent of seniors receiving Social Security income paid no tax on their Social Security due to exemptions and deductions, according to an estimate by Trump's Council of Economic Advisers. Under Trump's megabill, 88 percent won't be paying. Marc Goldwein, senior vice president of the nonpartisan Committee for a Responsible Federal Budget, told the Post that the rise is due to the bill's increase in 'the standard deduction for seniors, which, as a result, reduces the number of seniors who will pay taxes on their Social Security benefits.' Put simply, the new legislation will provide limited benefits for lower-income seniors because they already pay less in taxes. 'Lower-income earners benefit less than middle and upper-middle income households,' Garrett Watson, senior policy analyst at the Tax Foundation, a center-right think tank, told USA Today. 'It's been marketed as tax relief for seniors, but a lot of seniors are going to be surprised when they find out it doesn't apply to them,' he added. 'I'm getting asked all the time by folks what this actually means for their tax situation.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
33 minutes ago
- Yahoo
FDA Grants Orphan Drug Designation To Sanofi's (SNY) Riliprubart
Sanofi (NASDAQ:SNY) is one of the . On June 25, Sanofi (NASDAQ:SNY) announced that the FDA granted orphan drug designation to Riliprubart for treating antibody-mediated rejection in solid organ transplantation. The FDA grants orphan drug designation to drugs aimed at treating rare diseases or conditions affecting fewer than 200,000 people in the US. This is a significant milestone for Sanofi (NASDAQ:SNY) as it provides benefits including tax credits, user fee waivers, and market exclusivity upon approval. Dozens of pharmaceutical capsules piled on top of one another to show the scale of the company's drug contributions to the industry. Riliprubart is currently being evaluated in multiple clinical trials across different indications, including transplant and neurology. The phase 2 study is underway to assess its efficacy in kidney transplant recipients. Sanofi (NASDAQ:SNY) is also conducting two phase 3 trials investigating Riliprubart in chronic inflammatory demyelinating polyneuropathy. Sanofi (NASDAQ:SNY) is a leading healthcare company headquartered in France. It focuses on improving patient health through the research, development, manufacturing, and marketing of a wide range of therapeutic solutions. While we acknowledge the potential of SNY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data


Bloomberg
34 minutes ago
- Bloomberg
Oil Drops as Larger OPEC+ Supply Increase Raises Glut Concerns
Oil declined after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook. Brent slid as much as 1.4% toward $67 a barrel after falling 0.7% on Friday, and West Texas Intermediate was below $66. The group led by Saudi Arabia decided on Saturday to boost supply by 548,000 barrels a day, putting the group on track to unwind its most recent output cuts a year earlier than planned.