Why USAA plans to expand financial services work in Charlotte for the military
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- USAA expanded its Charlotte office from several floors to all 10 since 2022.
- The company plans to add 300 jobs, leveraging Charlotte’s financial talent pool.
- USAA invested $1.6M locally and partnered with groups aiding military transitions.
Inside an office with a view of Charlotte’s uptown skyline, Ameesh Vakharia looks forward to leading a team of USAA workers providing financial services to soldiers, veterans and their families.
“We’re by no means as big as the banks up the road,” Vakharia said, referring to Bank of America, Truist, and Wells Fargo, whose buildings hover over the city. “But we’re pretty different, and that’s something we pride ourselves on.”
Vakharia, chief Strategy and brand officer, is optimistic about expanding USAA’s footprint in Charlotte.
USAA opened the office at 200 West Blvd. in 2022 with about 100 employees. Initially, they occupied six floors — now, they span all 10 of the 153,000-square-foot building. It’s the newest office here for the San Antonio, Texas-based company.
The company currently employs around 700 people in the region, and there’s room for growth. USAA has sufficient space to add 300 workers and intends to fill those positions, although a timeline for that has not been set.
Why USAA came to Charlotte
USAA’s decision to come to Charlotte stemmed from the Carolinas being a top 10 market for both active-duty service members and veterans, aligning with USAA’s mission, Vakharia said. The organization serves more than 1 million customers between both states.
“We think they face some of the most unique challenges, and they deserve the best given their service and sacrifice,” he said, referring to soldiers and their families.
Charlotte also offers a strong talent pool in financial services, which was a key factor in establishing the office.
“I think we have a pretty compelling opportunity, and we’ve shown that in terms of our ability to attract talent,” Vakharia said. “But look, there’s a lot of other good companies here too. So, it’s hard to say that you don’t expect to be in a fight always, to try and attract, retain and develop that.”
Beyond offices and cubicles, USAA offers several amenities for employees.
These include a coffee shop, a 24-hour market, a cafeteria for breakfast and lunch, common spaces for events, an outdoor balcony with views of the uptown skyline and a shared fitness center.
“If you take care of the employee, the employee will take care of the member,” Vakharia said, explaining the company’s philosophy on worker relations.
He added that USAA pride itself on the benefits it provides to employees.
Vakharia has been with USAA for four years, building on 20 years of experience in the financial services industry at other organizations. He was previously with Truist Bank for about 10 years before joining USAA, where he helped establish the Charlotte office.
He attended an Air Force vs. Navy game on Sept. 11, 2021 — 20 years after witnessing the 9/11 attacks in Manhattan.
Vakharia, working in financial services in lower Manhattan at the time, and witnessed the second plane strike the South Tower. “We were running from lower Manhattan into upper Manhattan,” he recalled. “That moment has helped shape a whole generation of service members.”
That experience reinforced his commitment to serving the military, highlighting a “full-circle moment” in his career with USAA.
Later, at the game’s halftime, he received a commemorative ball in recognition of USAA’s partnership for the event. Two uniforms that were given to him and had been, worn by the Air Force Falcons and Navy Midshipmen, hang in his office.
“It’s a really special set of folks that we get to care for every day,” Vakharia said.
More on USAA and its presence in Charlotte
USAA was founded in 1922 after 25 U.S. Army officers met and decided to insure each other’s vehicles. The United Services Automobile Association later evolved into a fully integrated financial services organization, now serving 14 million customers.
Last year, USAA reported net income of $3.9 billion an increase from $1.2 billion in 2023, according to its annual report. Total assets grew by 4% to $221 billion.
USAA company offers financial services that include banking, insurance and retirement planning.
“The mission of being able to give back to those who put on the uniform is something that we think really differentiates why people get excited to come to work every day and support folks,” Vakharia said. “No one else at our size offers both banking and insurance; they’re typically one or the other.”
For now, the digital-first institution does not have plans for building branches in the Charlotte region. Its priority is connecting with customers through mobile and online channels.
Company-wide, USAA employs approximately 38,000 people. About 25% are veterans or military spouses.
In its first three years, USAA has contributed $1.6 million to the Charlotte community, focusing on economic development and community partnerships.
That work includes Veterans Bridge Home, which assists military members in transitioning to civilian life, and the NFL Salute to Service program with the Carolina Panthers. This program acknowledges efforts by people in the league who support U.S. service members, veterans and their families.
USAA hosted its “Reverse Military Acumen” event on Wednesday, July 16, bringing together about 20 officers from local installations and senior leaders from the Charlotte office. They discussed leadership and the transition from military to civilian life.
“It’s a special day because it’s an invaluable opportunity for us to connect with the members we serve,” Vakharia said. “And also to help them prepare for their future transition.”
And although the Charlotte campus is fairly new, it has the highest volunteer participation rate among all USAA campuses.
“Our teammates aren’t just excited about coming to work here,” he said. “They’re excited about opportunities to get involved in the community. And I think that’s really helped, especially as the ‘new kid on the block’.”
This story was originally published July 17, 2025 at 6:00 AM.
