Vantaggi
Benefits are very good. The mission statement is taken seriously and customers, while not always getting the best price, are also not taken for a ride. Member facing employees are given the authority to do the right thing for the members. Our military oriented customers are incredibly loyal. San Antonio has a "smaller" town feel and overall USAA won't work you to death. Salary to cost of living (especially housing) ratio can be very attractive.
Svantaggi
Lack of formal professional / career development in mid management ranks. Customer loyalty also serves to nurture a status quo culture. Many great people experience career failure for challenging the status quo or for making someone in power "feel bad". This is a conflict averse organization (unless conflict is passive aggressive). Too much emphasis on external hires (yes, once you are here you are staff, not the next shiny object).