SAN ANTONIO - USAA Federal Savings Bank was designated "Best Bank in America" in the June issue of Money magazine.

The insurer-owned thrift, which has a "branchless" strategy and a majority of its $4.8 billion of assets in credit card loans, beat out 427 other depository institutions based on such criteria as safety, credit card rates, service fees, automated teller access, deposit account yields, and loan terms.

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