Interview with USAA CEO Juan Andrade on 'Face the Nation' – November 2, 2025

Host Margaret Brennan sat down with Juan Andrade, the CEO of USAA, a financial services provider, which primarily serves military personnel and veterans. Speaking from San Antonio, Andrade discussed the financial strain on military families in light of potential pay delays.

MARGARET BRENNAN: Welcome, Mr. Andrade. Last Sunday, Secretary Bessent mentioned on this platform that by mid-November, military personnel might face pay stoppages. How are your clients reacting to this prospect?

JUAN ANDRADE: Thank you for having me, Margaret. Within the active-duty community, there's a tangible sense of anxiety and uncertainty, accompanied by hardship for some. Thirty percent of federal workers are veterans or married to military personnel, making this more than a financial issue; it's about morale and maintaining focus. Our objective is to create financial stability for individuals who are finding it increasingly difficult to balance their finances.

MARGARET BRENNAN: Your organization offers zero-interest loans. Are these loans available to everyone or exclusively to active-duty military? What options are available if members don't qualify for these loans?

JUAN ANDRADE: We have a government shutdown relief initiative applicable to all qualifying USAA members. This includes nearly 14.5 million individuals. Swift actions were taken; within the first two days of the shutdown, $150 million in zero-interest loans were issued. As of now, this number has climbed to $400 million. We’re also providing help by offering payment deferrals on credit cards, auto loans, and mortgages, plus waiving certain fees and adjusting insurance plans.

MARGARET BRENNAN: Allocating four hundred million dollars in loans indicates members are seeking immediate financial aid. Data from the Agriculture Department shows a quarter of active-duty personnel experience food insecurity. What additional perspectives can you provide regarding these challenges, especially concerning the upcoming no-pay scenario?

JUAN ANDRADE: Precisely, which is why our loan initiative amounting to $400 million is crucial. People are preparing for an uncertain future, particularly younger enlisted members with dependents. For military families, dual incomes are often indispensable, not optional. We aim to support these families and prevent them from resorting to high-interest alternatives.

MARGARET BRENNAN: Unemployment for military spouses in civilian life notably exceeds national averages as they often need two incomes. The shutdown could result in economic consequences, with potential losses projected between $7 to $14 billion by the Congressional Budget Office. What impact are you observing in communities such as your base areas?

JUAN ANDRADE: The shutdown’s effects are evident in multiple ways, like reduced consumer spending. Families are front-loading essential expenses and holding back on non-essentials. We are already witnessing increased food insecurity, which prompted our donations to military charities and local food banks. Our contributions are strategically placed near military bases to directly assist those in need.

MARGARET BRENNAN: How does this situation compare with the prolonged shutdown during the Trump administration?

JUAN ANDRADE: Previous shutdowns were shorter, and pay for the military was secure. Currently, military pay is still active, but the uncertainty ahead worries our members. We are proactively planning additional support if the situation remains unresolved.

MARGARET BRENNAN: Given the possibility of extended funding issues, how long can USAA sustain its support measures?

JUAN ANDRADE: We're ready to provide our members a second round of loans. Given the uptake of the initial offers, we’re fully prepared to continue these efforts. Our commitment is to adjust as necessary to meet the needs of the military community.

MARGARET BRENNAN: We will continue monitoring these developments, especially with their implications for your clientele. Thank you, Mr. Andrade, for sharing your insights.

JUAN ANDRADE: Thank you, Margaret, for the opportunity.