USAA Bank Board Appoints Michael Moran As Bank President

San Antonio, TX – January 30, 2025 – Today, USAA Bank Board of Directors announced the appointment of Michael Moran as the Bank president, effective January 30. Moran, who has been serving as the interim president, brings more than two decades of banking experience and a strong commitment to the mission of serving military community and their families.

“I am incredibly honored to serve as the president of USAA Bank,” said Michael Moran. “Our team will remain focused on building the Bank’s financial strength, enabling us to provide our members with the competitive products and exceptional service they deserve. USAA’s mission is one of a kind and I look forward to advancing the capabilities of this great association.”

“In the interim role, Michael has helped inspire our teams to enhance the member experience while focusing on our most important areas,” said Brad Conner, Executive Chairman of USAA Bank. “His passion for our mission and steadfast dedication to members and colleagues is evident in every action he takes. I am confident he is the right leader to guide the Bank forward and he has the full support of the Board.”

Before moving into the interim role, Moran held several key roles at USAA Bank, including senior vice president and chief financial officer and as head of the business finance, pricing and financial planning and analysis (FP&A) area.

USAA President and CEO Wayne Peacock, who previously announced his retirement and will be succeeded by Juan C. Andrade as the company’s next CEO, shared his excitement about Moran’s appointment. “I’ve seen firsthand Michael’s passion for our mission and his commitment to our members and teammates. He also has Juan’s full support, who has observed Michael’s leadership as a member of USAA’s Board of Directors the last four years. We both know he's the right leader to continue the Bank’s momentum and take great care of military families.”

Prior to joining USAA, Moran spent nearly a decade at Key Bank where he advanced through a number of leadership roles including serving as senior vice president and CFO of the Bank’s Real Estate Capital division. He also served as senior vice president and head of FP&A. He holds a bachelor's degree in economics from Central Michigan University.

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 more than 13.5 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 37,000 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 or X (@USAA), or visit usaa.com.