2010 Corporate Citizenship Report

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and a Drug-Free Workplace.
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2010 CORPORATE CITIZENSHIP REPORT
Building communities. Moving forward.
TABLE OF CONTENTS
p1
Chairman’s Letter
p2
Charitable Giving
p4
Supporting the Arts
p6
Supporting Education
p8
Supporting Economic Opportunity
p10
Community Involvement
p12
2010 accomplishments
p14
Community Investment
p16
U.S. Bancorp
At A Glance
Ranking
U.S. Bank is 5th largest
U.S. commercial bank
Asset size
$308 billion
Community Lending
Deposits
$204 billion
p18
Environmental Stewardship
Loans
$197 billion
p20
Financial Education
Customers
17 million
p22
Community Service
p24
U.S. Bank Mission
Bank branches
3,031
ATMs
5,310
NYSE symbol
USB
At year-end December 31, 2010
Corporate Profile
U.S. Bancorp is a diversified financial services holding company and the
parent company of U.S. Bank National Association, the fifth-largest commercial
bank in the nation. U.S. Bancorp is known for its strong financial performance,
prudent risk management, quality products and services and its focus on
customer service. U.S. Bancorp supports the communities it serves through
financial services, economic development initiatives, grants, sponsorships and
employee volunteerism. U.S. Bancorp has been recognized as one of the safest,
most respected and most trusted banking companies in the world. The company
offers regional consumer and business banking and wealth management services,
national wholesale and trust services and international payments services to
more than 17 million customers. Headquartered in Minneapolis, U.S. Bancorp
was founded in 1863 under national Charter #24 and currently employs more
than 61,000 people.
Visit U.S. Bancorp online at usbank.com
C H A I R M A N ’ S
L E T T E R
Dear Stakeholders,
At U.S. Bancorp we are actively engaged in developing, strengthening and energizing our
communities. Individually and together, we live our brand, “All of us serving you.”
“All of us serving you” — nowhere is this more important than in the communities where
we live and work. We are committed to supporting these communities through building
stronger partnerships with nonprofit organizations, sharing the strength of our financial
services through community development lending and investments and by providing
leadership in the community through the generous dedication of time, service and
talents of our U.S. Bancorp employees.
U.S. Bancorp has proven performance in strengthening communities through financial
support and employee volunteerism. In 2010 U.S. Bancorp donated $38 million to
strengthen our communities. These grants, contributions and non-profit sponsorships
supported arts and culture, education, economic development and local United Way
campaigns across our franchise. We believe it is important to play a vital role in our
community’s economic and community development.
Our lending and investment programs help address the affordable housing and economic
development issues facing many communities. The U.S. Bancorp Community Development
Corporation provides innovative financing solutions to help communities create affordable
housing projects, preserve historic buildings and districts and fund renewable energy
projects. We offer a variety of programs and products to help small business owners grow
their business, assist entrepreneurs to start new businesses and encourage job creation.
Our affordable mortgage products allow thousands of families to achieve their dreams
In 2010 U.S. Bancorp donated
of homeownership.
$38 million to strengthen our
U.S. Bank is committed to empowering individuals through financial education. From
communities. These grants,
our perspective, teaching children about money and finances is a huge step in ensuring
financially responsible and capable adults. To that end, U.S. Bank has fostered robust
contributions and non-profit
ongoing relationships with Junior Achievement and is an active participant in the
sponsorships supported arts and
American Bankers Association Education Foundation’s National Teach Children to
Save Day. Collaboration with universities and national organizations is a key factor
culture, education, economic
in fulfilling our commitment. We strongly believe that financial education is crucial to
development and local United
self-sufficiency and we strive to provide individuals of all ages with the tools and
knowledge to build financial independence. Our employees generously donate their
Way campaigns across our
time and expertise to teach others about financial literacy, one classroom at a time.
franchise. We believe it is
I am very proud of the role that U.S. Bank serves in building a stronger America. We
have built a strong foundation of community support and continue to build on that
foundation. This 2010 Corporate Citizenship Report showcases some of the projects
and initiatives in which we have been involved throughout the past year. It is our
privilege to be a community partner and to share in the outstanding work of nonprofits
important to play a vital role in
our community’s economic and
community development.
and developers to make our communities stronger together.
Sincerely,
Richard K. Davis
Chairman, President and Chief Executive Officer
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By investing in innovative
U.S. Bancorp Foundation Grants and Employee
Matching Gift Program
programs designed to serve
Each year, the U.S. Bancorp Foundation provides millions of dollars in grants to
nonprofit organizations in the focus areas of artistic and cultural enrichment, education
and economic opportunity. We collaborate with community partners who understand
the needs of individuals, families and organizations, and match our resources with those
community needs. Through our collaborations, families can find affordable places to
call home, people can gain job skills, youth from diverse backgrounds can achieve in
school and the wealth of the arts can become more accessible to everyone. In 2010 the
U.S. Bancorp Foundation distributed more than 3,100 grants to organizations in our
communities, for a total of more than $19 million.
local community needs, we are
helping to build strong, healthy
neighborhoods where all of us
can live, work and dream.
Working in partnership with
community leaders, U.S. Bank
local market leadership directs
the majority of our giving
through local grants that
address the pressing economic,
educational and cultural needs
of communities we serve. In
addition, we partner with
national organizations such
as the United Way to direct
resources to local communities.
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U.S. Bancorp also recognizes and appreciates our employees’ contributions to our
communities. Through the Employee Matching Gift Program, the U.S. Bancorp
Foundation supports employee efforts to improve our communities by matching
their contributions to nonprofit organizations. The U.S. Bancorp Foundation matched
more than 10,800 employee donations for a total of more than $1.8 million supporting
causes that are most important to our employees, from food shelves to national parks.
A special Matching Gift effort funded by the U.S. Bancorp Foundation was disaster
relief for earthquake victims in Haiti and Chile. Our employees generously contributed
more than $155,000 to help victims of the devastating earthquakes. The U.S. Bancorp
Foundation matched these gifts and provided more than $100,000 in grants to the
American Red Cross. This made U.S. Bancorp’s combined contribution for disaster
relief efforts in Haiti and Chile more than $419,000. These donations continue to
help victims by providing them with resources, services, and training to rebuild their
homes and lives.
Summary of U.S. Bancorp Foundation Payments
by Program Area
C H A R I T A B L E
G I V I N G
Cincinnati leaders show their support for United Way
Corporate Contributions
Every year, our investments in community-focused programs and services make a
genuine difference, and 2010 was no exception. Corporate contributions and community
sponsorships are an integral part of our company’s philanthropic initiatives. Support for
community events, local festivals and topical workshops add great value to the communities
we serve. Corporate contributions and nonprofit sponsorships totaled more than $16.6
million in 2010.
In a year when many people in our
communities struggled to meet
basic needs, an increase in employee
pledges is something we can be
truly proud of. We can count on
Five Star Volunteer Award
Each year U.S. Bancorp recognizes our organization’s
most exceptional employee volunteers through the Five
Star Volunteer Award Program. In addition to recognition
as an outstanding volunteer, each winner is honored through
a financial contribution to the organization cited in their
nomination. In 2010, we honored 138 employees in 28 states
with the Five Star Volunteer Award and contributed $100,000 to local nonprofits in
recognition of their service. Since the program’s inception in 2005, more than 920 awards
have been presented to our most outstanding U.S. Bancorp employee volunteers, and
$738,500 in contributions have been made to local community organizations in support
of those employees.
the United Way to ensure that
those who need it most get the
help they deserve to obtain a
steady income, good health or
an education. In addition, we can
be sure that our communities are
being changed systemically to
make them places where future
United Way
generations can thrive. Through
U.S. Bancorp and our employees are proud to share a strong
partnership with the United Way. In 2010, we implemented
our first company-wide online pledging effort, making it easier
for our 60,000 employees to get involved in one of more than
200 local campaign efforts. Our campaign theme was Dare to Dream. As bankers, we
make dreams come true by supporting our customers and our communities in the work
that we do every day. Through our support of the United Way we deepen this commitment,
allowing thousands of children and adults across the country to “Dare to Dream” to
achieve education and to gain the personal assistance necessary to improve their lives.
Through employee pledges, special events and U.S. Bancorp Foundation grants, we raised
nearly $11 million to support United Way in 2010.
this impressive campaign, thousands
of children and adults across the
country can “Dare to Dream”.
~Richard Davis
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Artistic & Cultural
Enrichment
We fund organizations and
programs that build audiences
for the arts, especially among
underserved populations. We
also bring civic amenities to
underserved rural communities
and promote the arts in
education.
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Reno, NV
The Nevada Museum of Art presents exhibitions and educational programs that help to
promote public dialogue about human interaction with natural, man-made and virtual
environments. Funding from the U.S. Bancorp Foundation supported the Scholastic Art
Awards of 2010, which provided students from Northern and Central Nevada with the
opportunity to have their artwork judged by a panel of experts and exhibited for several
weeks at the museum. Eleven hundred submissions were received from students in Reno
and surrounding rural areas including Douglas, Elko, Storey, White Pine and Lyon counties.
Three hundred students and their families attended the reception and awards ceremony.
Additionally, participating students were given the chance to compete for college
scholarships and national awards. Seven scholarships were awarded to seniors in 2010.
Seattle, WA
The U.S. Bancorp Foundation provided support for the Seattle Shakespeare Company’s free
Wooden O productions in parks throughout the Puget Sound region during the summer of
2010. Othello and Much Ado About Nothing were performed 31 times in 13 cities before
a total of 12,600 people of all ages and incomes. Nearly 13 percent of the audience was
comprised of youths and their families. Much Ado About Nothing featured two of the most
prominent performers in the Pacific Northwest, Hans Altwies and Amy Thone. Husband and
wife offstage, they portrayed the witty and bickering leads in the play. The production broke
records for attendance, as well as for on-site donations. Set during World War II, and
featuring Wooden O founder George Mount in the role of Iago, Seattle Shakespeare’s
powerful Othello was hailed by Broadwayworld.com as “a wonderful production.”
S U P P O R T I N G
T H E
A R T S
Sacramento, CA
The Crocker Art Museum Association (CAMA) was established 125
years ago by the Crocker Family. It is one of the most prestigious and
well-recognized organizations in Greater Sacramento, raising funds
and awareness of the Crocker Art Museum. The Crocker Art Museum
is dedicated to promoting an awareness and enthusiasm for human
experience through art. To fulfill its mission, the Crocker Art Museum
collects, preserves, exhibits and interprets outstanding works of art
that are the product of human ingenuity and creativity. Through
youth, family and adult programs, the museum provides aesthetic
and educational experiences that foster self-awareness and personal
inquiry, as well as an understanding of, and respect for, community
traditions and values.
U.S. Bancorp Foundation has made significant contributions to
CAMA over the years and a crucial investment to CAMA in 2010
when a new wing of the museum was unveiled. The $100 million
expansion, designed by the internationally renowned Gwathmey Siegel
& Associates Architects, was built adjacent to the original Victorianstyled museum building. It was designed to be a world-class facility
that will serve as an integral component of the region’s cultural and
economic life. The new wing is 125,000 square feet and is one of the
largest museum expansions in California history. It triples the size of
the museum and greatly increases the amount of temporary space,
enabling blockbuster exhibits to come to Sacramento.
Kansas City, MO
U.S. Bank provided sponsorship support to the American Jazz Museum.
The museum has an outreach initiative to provide access to this unique
American art form to low- and moderate-income people. This sponsorship
benefits more than 600 performing artists and the more than 160,000
people who tour the museum or attend public performances there each
year. In addition, U.S. Bank has collaborated with the American Jazz
Museum to offer small business development classes for performing
artists to encourage financial stability in the industry.
Bay Area, CA
U.S. Bank is proud of our new
partnership with Cal Performances.
A U.S. Bancorp Foundation
operating support grant not only
ensured the success of their
upcoming performance season, but
also enabled them to provide more
Jumping at Ailey Camp
than 100 robust arts and arts
educational programs to elementary school students, adults, novices
and scholars. These programs serve 22,000 K-12 students and teachers
and are nationally recognized as model arts education programs.
With the “Cal Performances in the Classroom”, they provide professional
development for teachers, classroom prep and school time performances.
Their flagship program “Ailey Camp” is their free six week summer
camp program conceived by the Alvin Ailey American Dance Theater
in collaboration with Cal Performances. Underserved middle-schools
(children aged 11 to 14) that do not usually have access to the arts
rotate through dance classes, enjoy cultural field trips, attend daily
personal development workshops and stage a final performance.
U.S. Bank is excited and proud of our new partnership with
Cal Performances.
FOR LOVE OF LIBERTY
Through a corporate contribution, U.S. Bank was proud to
sponsor the PBS television special For Love of Liberty: The
Story of America’s Black Patriots. Introduced by General
Colin Powell and hosted by Halle Berry, it aired on more
than 365 public television stations across the country
during February. For Love of Liberty showcased black
history as well as our nation’s veterans.
On June 1, U.S. Bank hosted a special screening of the
documentary at the historic Ebony Repertory Theatre in
Los Angeles. Following the presentation, the audience
engaged in a discussion about the film and the struggle
of black patriots.
The film, co-written, directed and produced by Frank
Martin, was 10 years in the making. It honors the military
service of African-American patriots throughout history.
Their stories were told through letters, diaries, speeches
and historical records that were dramatically re-enacted
and recited by a vast ensemble of highly recognized
celebrities and public figures.
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Education
We support innovative education
programs that provide financial
literacy training and effective
mentoring. We also support
programs that help low-income
and at-risk students to succeed
in school and prepare for
post-secondary education.
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Everett, WA
Elementary school children throughout Snohomish County
impacted lives around the world when they learned the
meaning of a very big word — philanthropy. Supported
by the U.S. Bancorp Foundation, more than 7,000 children
participated in the Great Money Challenge II, which was
this year’s theme for the Imagine Children’s Museum’s
annual community literacy initiative. The program, now
in its fifth year, uses an insightful book as a springboard
into a larger conversation about childhood experiences.
Volunteers, including U.S. Bancorp employees, visited
312 classrooms in the first two weeks of November.
After reading and discussing the book with the students,
the volunteers left behind ten dollars and a challenge to
find a way to use the money to make a difference —
to be philanthropists.
S U P P O R T I N G
E D U C A T I O N
Las Vegas, NV
The mission of Teach For America — Las Vegas Valley is to build a
movement to eliminate educational inequity by enlisting our nation’s
most promising future leaders in the effort. In Las Vegas, more than
6,000 students are served by 100 teachers who do whatever it takes
to ensure that all children have access to an excellent education.
Support from the U.S. Bancorp Foundation allows them to recruit,
select, train and support the incredible talent they bring to Southern
Nevada, and truly maximize their impact on the low-income students
in the community.
PORTLAND, OR
The U.S. Bancorp Foundation and U.S. Bank have been
important partners of Chess for Success since the very
beginning of this unique program. It recognizes how
Los Angeles, CA
chess can significantly change the lives of children who
The U.S. Bancorp Foundation provided a grant to Verbum Dei High
School Work Study Inc., a nonprofit employment agency that places
Verbum Dei High School (VDHS) students in internships in local
corporations. VDHS is an all-male Jesuit-managed archdiocesan
school in South Los Angeles, where approximately 275 students
come from low-income families. The program is committed to
servicing motivated disadvantaged students and impoverished
families who could not otherwise afford a private college
preparatory education.
are proving to themselves, and others, that they can do
In addition to contributing capital for the program, U.S. Bankcorp
committed 240 hours of monthly mentorship to six students
participating in the subsidized internship from August 2010 through
June 2011. Each student is assigned to a U.S. Bankcorp employee in
the Los Angeles Commercial Banking Department who acts as their
supervisor for five days each month. This program provides students
with invaluable work experience in a large corporation, while helping
to cover the cost of their tuition. One hundred percent of the
students in this program go on to secondary education.
the Oregon Scholastic Chess Foundation. Funded through
anything they set their minds to.
Chess for Success developed as an outgrowth of the
Portland Chess Project (PCP), an after-school chess
program established in 1992 by Richard Roy, founder of
a four-year grant from the Meyer Memorial Trust, the PCP
was launched in nine Portland Public Schools to see what
effects chess might have on the academic performance,
self esteem and classroom behavior of students in the
district’s most disadvantaged schools.
In 1996, Frank Eiseman formed Chess for Success, which
was funded by donations from corporations, individuals and
foundation grants. Mr. Eiseman placed chess programs,
identical to those created by the PCP, in 12 more
elementary schools. In 1996 the two programs merged
under the banner of Chess for Success and has grown
from nine schools and 200 children, to 52 schools and
2100 children in the school districts of Portland, David
Douglas, Centennial, Parkrose, Reynolds and Monmouth.
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Economic Opportunity
A community prospers when
Affordable Housing
businesses thrive, people have
We support organizations that encourage the preservation, rehabilitation and construction
of quality, affordable housing.
stable jobs, housing is safe and
Sioux Falls, SD
Foundation and the Community
U.S. Bank is a proud supporter of the Sioux Falls Community Foundation, and has been
for the past 23 years. The 2010 operating grant from the U.S. Bancorp Foundation helped
to provide affordable housing through the work of the Sioux Empire Housing Partnership
(SEHP). Since its inception, the SEHP has purchased and developed two housing developments,
answering the dreams of hundreds of low- to moderate- income families. The organization
has also provided home buyer education classes to thousands of first time homebuyers.
SEHP’s latest project will help provide 76 more homes for low- to moderate-income
families, improving the economic well-being of the community.
Affairs Division, we support the
Economic Development
creation of economic opportunity
We fund programs that support small business development and expansion, commercial
revitalization and job creation.
through charitable grants and
Kansas City, MO
affordable and residents have
access to the services they
need. Through the U.S. Bancorp
corporate contributions to
organizations that provide
affordable housing, encourage
self-sufficiency and foster
economic development.
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The Hispanic Economic Development Corporation (HEDC) was established in 1993
for the purpose of developing and implementing economic development initiatives that
would positively contribute to the quality of life for Latinos in Kansas City. The Hispanic
community is dispersed throughout the metropolitan area with high concentrations in the
urban core areas of Kansas City, Kansas and Missouri. The neighborhoods served by HEDC
are challenged by unemployment, as well as underemployment, income levels below the
federal poverty level and lack of quality housing, grocery stores and banks. Through a
program grant from the U.S. Bancorp Foundation, HEDC was able to provide unique,
bilingual, small business education programs to more than 50 entrepreneurs using a
curriculum from the Kauffman Foundation called Primer Paso FastTrac®.
S U P P O R T I N G
E C O N O M I C
O P P O R T U N I T Y
Portland, OR
Economic Education
The U.S. Bancorp Foundation provided a grant to help launch
the Alberta Main Street Program. Alberta Street business and
neighborhood stakeholders responded to a Request for Proposal,
issued by the City of Portland, to designate the avenue as a Main
Street corridor. One of the requirements of the application was to
identify financial support from businesses in Greater Portland. In
view of its historical significance, great location and wonderful
potential for growth, U.S. Bank was eager to provide a grant to help
create the Alberta Main Street Program. This neighborhood business
area reflects many of the most important elements of a community
that just needs a boost to grow by leaps and bounds. U.S. Bank is
playing a key advisory role as the Main Street Program moves
forward with strategic planning and implementation that will
help ensure this Main Street is a very attractive destination.
We support programs that provide financial education, home buyer
counseling and related economic education.
Tucson, AZ
The mission of the Microbusiness Advancement Center (MAC)
is to provide technical assistance to entrepreneurs, place small
business microloans in southern Arizona and encourage job
creation. MAC programs, such as the Pima County Women’s
Business Center and SBA Small Business Development Center,
provide clients with opportunities to attend training classes, obtain
microloans and access resources to help them start or grow their
business. Programs are available in both English and Spanish.
U.S. Bank is proud to support this organization through a grant
from the U.S. Bancorp Foundation.
Operation Hope
U.S. Bank Vice Chairman and Head of Consumer Banking Richard
C. Hartnack and Operation HOPE Founder, Chairman and CEO
John Hope Bryant jointly announced U.S. Bank’s $1.75 million,
five-year commitment to support the national financial literacy
empowerment work of Operation HOPE, in communities where
both organizations operate.
U.S. Bank actively supports Operation HOPE, and this pledge
will expand programs aimed at financial literacy training for youth
and adults. The pledge includes $200,000 of financial and in-kind
support of the Financial Literacy Empowerment Center in Maywood,
California, along with a $310,000 yearly contribution to help fund
the initiatives being advanced by the Financial Services Roundtable
at Operation HOPE. Additionally, many U.S. Bancorp employees are
involved in Operation Hope activities, including Mr. Hartnack who
serves as Vice Chairman of the Board.
In making these financial commitments to Operation HOPE, U.S. Bank
strives to encourage other financial service organizations to join
Operation HOPE’s Silver Rights Movement, making financial
literacy a national priority and an essential objective of every
financial service provider in America.
Self-Sufficiency
We support programs that assist low- and moderate-income
individuals in development of work and life skills essential to
self-sufficiency, with a focus on work-entry programs, specific
skills training, employment retention and personal financial
management training.
Cedar Rapids IA
Waypoint Services for Women, Children & Families is a nonprofit
organization that provides services to women and children in crisis
due to homelessness, poverty, domestic violence or sexual assault.
Their mission is to strengthen and empower women and families by
providing advocacy, crisis intervention, supportive services, shelter,
quality child care and community leadership. The U.S. Bancorp
Foundation provided a grant for case management services at the
Waypoint Madge Phillips Center, a 24-hour program serving
homeless and nearly homeless women and children. A case
management service provides one-on-one support and guidance
for women to identify, prioritize and make progress on goals that will
move them closer to self-sufficiency. U.S. Bancorp employees serve on
the board of directors and board of trustees, as well as volunteer
many hours to help with fundraising events.
Childcare and Transportation
We support broad childcare and transportation initiatives designed
to help people transition from welfare to work.
Quad Cities IA/IL
The U.S. Bancorp Foundation provided a grant to Bethany for
Children and Families’ Ways to Work program. This program
serves low- to moderate-income parents that have challenging
credit histories. Qualified applicants are provided with a small,
low-interest, short-term car loan that enables them to maintain
employment, care for their families and re-establish good credit.
To enhance the program’s success, applicants also receive financial
education. In the last 12 years this program has provided much
needed assistance to more than 500 families.
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Employee
Community Involvement
U.S. Bank
Development Network
Five Star
Volunteer Day
At U.S. Bank, our greatest asset is our employees. The Development
Network promotes the personal and professional development of
U.S. Bancorp employees by encouraging and capitalizing on their
diversity. With 57 Development Network Chapters, employees
throughout U.S. Bank are provided opportunities to learn
new skills, network with colleagues and engage in meaningful
community projects.
U.S. Bank is committed to making the communities we serve a
better place because of our presence. The Five Star Volunteer Day
provides up to eight hours of paid time-off each calendar year for
eligible employees to volunteer and become actively involved in
their local communities.
U.S. Bank Green Teams
U.S. Bank Green Teams bring together
groups of employee volunteers interested
in being internal ambassadors for
U.S. Bank’s environmental stewardship.
Green Team members encourage sustainable
behavior from fellow employees at work and home, such as printing
duplex, abstaining from printing when unnecessary, turning off lights
not being used, recycling, utilizing public transportation or biking
and walking to work instead of driving. U.S. Bank currently has 30
active Green Teams working to identify and implement opportunities
across the company.
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U.S. Bank is also proud to co-sponsor an annual Community
Service Initiative in partnership with The Financial Services
Roundtable. During Community Service 2010 sponsored by the
Financial Services Roundtable, more than 36,000 employees
across our company participated in 2,600 community involvement
activities to improve the neighborhoods in which they live and
work. 217,000 individuals were helped through these efforts.
C O M M U N I T Y
I N V O L V E M E N T
Los Angeles, CA
For more than seventy years, the Los Angeles Mission, a nonprofit
organization serving the homeless living on the streets of downtown’s
Skid Row, has had an impact on thousands by providing humanitarian
services to those in need. For the Mission’s 11th Annual End of
Summer Block Party, U.S. Bank contributed $25,000 to provide
2,500 meals to the homeless and equip 800 children with fullystocked backpacks to start their school year off right.
In addition, 45 U.S. Bancorp employees, family members and
friends volunteered a combined 180 hours to serve food, distribute
backpacks, paint faces and host games. This was the fifth year
U.S. Bank participated in the event, which was coordinated by
the Los Angeles Development Network Chapter and the
Community Affairs Division.
Milwaukee, WI
The Milwaukee/Southeast Wisconsin Development Network
Chapter and U.S. Bancorp Fund Services Green Team coordinated
three outings this year to clean up a stretch of highway for the
Adopt-A-Highway program. A group of employees put on gloves
and safety vests to remove trash and debris from a two-mile segment
of their state highway. This environmentally-friendly outing
promoted employee networking and camaraderie, resulting in a
pristine and safe stretch of highway for their local community.
SAN DIEGO, CA
Lincoln, NE
magazines, toothbrushes and socks to sunscreen, lip
Twenty years ago, U.S. Bank was the lead sponsor for the first
Lincoln Paint-A-Thon, a program devoted to people helping fellow
homeowners in their community who are physically or financially
unable to paint their homes. Throughout the past two decades, our
support and endorsement of the Brush Up Nebraska Paint-A-Thon
program has only grown.
The Nebraska Development Network coordinated the participation
in the 2010 Paint-A-Thon. More than a dozen U.S. Bankers painted
two homes in Lincoln and Omaha. At each site, volunteers scraped
old paint, primed and prepped the houses and brushed on the final
coat of new color, brightening the home’s exterior and the lives of
the two families that reside there.
Cincinnati, OH
More than 30 U.S. Bancorp
volunteers partnered with
People Working Cooperatively
(PWC) to provide energy
saving tips and educate lowincome, elderly and disabled
Cincinnati residents about
energy conservation. PWC is a
unique nonprofit organization
that strengths communities by
providing professional, critical
Employee volunteer testing
home repairs, weatherization,
a homeowner’s furnace
modification and maintenance
services to help low-income, elderly and disabled residents stay in
their homes. In addition to educating residents, volunteers also
increased the energy efficiency of the homes by testing and cleaning
appliances to make sure they were working efficiently and installing
energy saving light bulbs. The training was invaluable as volunteers
will now be able to share their new knowledge with many others,
creating a positive ripple effect in the community and the environment.
More than 30 U.S. Bancorp employees participated in
the inaugural Give Thanks to Our Troops Supply Drive
coordinated by the San Diego Employee Development
Network Chapter. Employees donated items ranging from
balm and non-perishable food items. The donations were
assembled as care packages for armed service members
deployed overseas. Employee volunteers also crafted
handmade greeting cards to help brighten the holidays
for the soldiers. After four hours of packaging, U.S. Bank
shipped 60 large priority mail boxes full of basic necessities
and care items. Scott, one of the care package recipients,
emailed the San Diego Development Network Chapter
expressing his gratitude:
“Hello, My name is Scott and I wanted to thank you for
the very nice care package you sent to Afghanistan. I
received it just yesterday and all of the items in it are
very much appreciated. It’s a very dry and dusty place
here and it’s cold right now. But when it begins to get
hot, and it gets very hot, the sunscreen and lip balm are
much needed! All of us here really do appreciate the
effort and thoughts of all of you back home. This time of
year is especially hard on all of us but with these gifts it
reminds us of just how much we love our country and all
of you. I can’t thank you enough for your thoughts and
prayers. We keep as safe as possible and keep counting
the days till we are home again.”
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A C C O M P L I S H M E N T S
COMMUNITY
INVESTMENT
$1.9 billion in community
development investments
COMMUNITY
LENDING
$38 million in Foundation
and Corporate Contributions
$1.5 billion in community
$2.1 million of in-kind
Office Space for 62 nonprofit organizations
development loans, creating
8,600 units of affordable
housing and 1,200 jobs
SMALL
BUSINESSES
$7.2 billion of small
business loans encouraging
business expansions, start-up
companies and job creation
$7.9 million in Federal
Home Loan Bank AHP Grants
secured for our community
partners for development
of 1,000 units of
affordable housing
HOMEOWNERSHIP
2,500 households helped to
obtain down payment assistance
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ENVIRONMENTAL
STEWARDSHIP
$1 billion in total
loans and investments in
environmentally beneficial
business opportunities
90% increase in
the number of U.S. Bank
Green Teams
held in our communities
serving 40,000 individuals
COMMITMENT
TO THE COMMUNITY
REINVESTMENT ACT
U.S. Bank National Association
is proud to have been awarded
an “Outstanding” rating
for its commitment to the letter
and the spirit of the Community
Reinvestment Act (CRA). This
is the highest possible rating
given by the Office of the
Comptroller of the Currency
(OCC). The OCC reported that
we were “Outstanding” in all
three CRA categories, giving
U.S. Bank National Association
an “Outstanding” in the
FINANCIAL
EDUCATION
1,800 financial
education seminars
A C C O M P L I S H M E N T S
EMPLOYEE
LEADERSHIP
lending, investment
and service tests.
1,600 U.S. Bancorp
employees serving
as board members of
community development
focused organizations
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Investing in
Our Communities
U.S. Bancorp Community
Development Corporation
(USBCDC), one of the nation’s
largest tax credit investors,
has committed $7.7 billion
nationwide in more than a
thousand investments to
finance New Markets (NMTC),
Historic (HTC), Renewable
Energy (ITC) and Affordable
Housing (LIHTC) projects.
These equity investments have
provided needed revitalization
and new resources to
communities throughout the
country. USBCDC provides
resources and expertise for
the rehabilitation of historic
buildings, construction of
affordable and market-rate
homes, development of
renewable energy facilities
and generation of commercial
economic activity in lowincome communities.
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Courthouse Lofts
Kansas City, MO
As a boost to both jobs and affordable downtown housing, USBCDC provided a complex,
yet innovative, financing package to the Alexander Company for the conversion of the former
Federal Courthouse building in Kansas City, into the Courthouse Apartments.
Located at 811 Grand Boulevard, the nine-story building will be converted into 109 onebedroom and 67 two-bedroom loft apartments. U.S. Bank worked with the Missouri Housing
Development Corporation to purchase low-income tax credits, typically reserved for financing
affordable housing for those who earn less than 60 percent of the area median income. This
means all of the units will be made available at affordable rates. U.S. Bank also purchased
state and historic tax credits to bring more than $24 million in equity to the project.
The Alexander Company’s plans preserve the historic character of the building, while including
updated features such as underground parking, a fitness center, a community room and rooftop
patio. All units will have durable, Energy Star appliances including a washer and dryer. About
10,000 square feet of potential commercial space on the first floor will be developed and available
for lease at a future date. Also, space in the four former primary, two-story courtrooms, located
on the fourth through sixth floors, will be renovated. In addition to the creation of affordable
housing, at least 75 jobs will be created during the construction process.
Miracles Club
Portland, OR
A $4.9 million low-income housing tax credit equity
provided by USBCDC and a $1.3 million community
development loan made available by U.S. Bank provided the
investment capital needed for the development of Miracles
Club apartments. The five-story, mixed-use building will
include 40 apartment units for individuals committed to an
ongoing program of addiction recovery. The ground floor of
this innovative project will be home to the Miracles Club, a
“social club of refuge” focused on drug and alcohol recovery
services. Social events, Alcoholics Anonymous meetings, peer-to-peer services and mentoring
will be offered at the new home for this nonprofit organization. This project’s unique structure
has garnered significant state, county and local political support in Portland. Green design
features of the building include rainwater collection for non-potable uses, a rooftop heat
recovery ventilation system, pervious pavement and swales for runoff collection and green
interior finish materials.
C O M M U N I T Y
I N V E S T M E N T
Glassell Park
Los Angeles, CA
USBCDC is proud to be the
tax credit investor for the
Glassell Park Apartments in
a diverse neighborhood of
northeast Los Angeles.
USBCDC provided the project a $12.6 million low-income housing
tax credit equity investment, and U.S. Bank financed the project with
a $2 million permanent loan. The Glassell Park mixed-use project
was made possible by a development agreement between Abode
Communities and the Los Angeles Unified School District (LAUSD),
and is the first development of its kind to place housing and a LAUSD
school on the same site. The 1.35 acre infill site is vacant and
surrounded by single family homes, multi-family apartments,
industrial buildings and a new early childhood education center,
which is under construction. The apartment building will
offer 35 two-bedroom and 15 three-bedroom units to families
earning between 30 and 60 percent of area median income. It will
be built atop a bi-level, underground parking structure offering
residents exclusive use of 55 parking spaces. The apartments and
education center will share amenities including community rooms
and playgrounds. Residents will benefit from the after-school
programs and adult education classes that will be offered on the
premises. The energy-efficient and sustainable design features include
a photovoltaic system for common area heating, solar hot water
for the central laundry, water-saving fixtures for kitchens and
bathrooms and drought-resistant landscaping, all of which will
allow for Leadership in Energy and Environment Design, or LEED®,
certification. The LEED green building certification program is the
nationally accepted benchmark for the design, construction and
operation of green buildings.
Rocky Mountain
Innovation Initiative
Fort Collins, CO
Rocky Mountain
Innovation Initiative
(RMI2), a nonprofit
organization that assists
scientific and technology
Ryan Burke, City of Fort Collins
startup companies,
received more than $2 million in new markets tax credit equity
from USBCDC to fund a $7.1 million project for the development
of permanent incubator space. The financing allows the organization
to consolidate its multiple Fort Collins facilities into one space and
enable RMI2 to offer below market lease rates in the building, which
is crucial to RMI2’s services, and the companies it assists.
Wright on the Park
Mason City, IA
USBCDC provided a total of $5.7 million of historic and new
markets tax credit equity to help finance the rehabilitation of the
three-story Park Inn Hotel. Designed by Frank Lloyd Wright and
completed in 1910, the Park Inn Hotel is the last Wright designed
hotel in the world of the six for which he was the architect of record.
A complete renovation, including restoration of the distinctive brick
and terracotta façade, as well as the art glass windows, will restore
the Prairie School-styled building to its original use as a functional
hotel. The project is anticipated to be complete in July 2011, at
which time the property will operate as a hotel with 27 guest
rooms, a restaurant and banquet facility.
The community-sponsored preservation project is expected to
contribute to the overall development of the Mason City Central
Business District (CBD) and surrounding community. Downtown
Mason City has long been the center of retailing, services and
culture in Northern Iowa. Upgraded safety and esthetic improvements
will enhance fire protection for the adjacent block of buildings and
create new growth opportunities for the CBD. Green initiatives, such
as geothermal heating and cooling, storm water management, rain
gardens and pervious pavement, will all add to the sustainability of
new streetscaping improvements, as well as reduce operating costs
for businesses. The green focus will provide a new marketing identity
for this critical part of Mason City and has already encouraged new
investment in the downtown area. In addition, the project will help
to create jobs in the city. It is projected that 27 jobs will be created
and retained in the community through this project.
Coastal Energy Project
Grayland, WA
USBCDC provided more than $7 million
of new markets and renewable energy
tax credit equity for the financing of a
six megawatt wind farm near Grayland.
The $18.8 million project, which was
placed in service in June 2010, was
developed by Coastal Community
Action Program (CCAP).
The six megawatt, four turbine system was installed off the coast
of Grays Harbor and Pacific Counties in Washington. The system
is estimated to produce 13.5 million kWh of clean energy annually.
The project’s electricity revenues will be used to enhance CCAP’s
existing community services.
The CCAP project is a great example of the flexibility of the new
markets tax credit program. By combining the benefits of both
renewable energy and new markets tax credit financing, CCAP was
able to expand the definition of community impact. This project
demonstrates that the development of renewable energy sources
will, and should be, included in community impact studies across
the country.
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Lending in
Our Communities
Ten Fifty B
San Diego, CA
Sheet Metal Workers Union
St. Louis, MO
U.S. Bank provided a $48.5 million loan to
help finance the development of Ten Fifty B
Street in downtown San Diego. The LEED®
Gold certified building is 23-stories with
229 residential apartment units and 13,450
square feet of ground-floor retail space.
The project is dedicated to meeting the
rental housing needs of individuals, families
and seniors earning 25 to 60 percent of San
Diego County’s median income and is the tallest affordable LEED
Gold certified housing tower on the West Coast. Amenities at Ten
Fifty B include multiple tot lots, barbecue and picnic areas, an outdoor
fire pit, more than 7,000 square feet of open space, underground
parking, a computer lab/business center with free Internet and a
community room. U.S. Bank is also providing a grant to establish a
comprehensive and innovative resident service program to provide
economic opportunity for its low-income tenants. The program will
include financial fitness programs, computer training, after-school
homework club and vocational training. This unique project is
helping to set a new precedent for smart, sustainable growth.
U.S. Bank and USBCDC played a pivotal role in ensuring that the
Sheet Metal Workers Union (SMWU) Local 36 could build their
new $15 million headquarters in the City of St. Louis. The June
groundbreaking marked the beginning of the rehabilitation of a
former boiler facility south of downtown that, when completed,
will house offices, a training school, meeting hall and a 1,000-seat
auditorium for SMWU Local 36. Builders are working to make the
facility LEED Platinum, the highest-rated LEED-certified building
in Missouri.
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Renaissance Uptown Lofts
Denver, CO
U.S. Bank and USBCDC provided financing and low-income
housing tax credit equity for the Colorado Coalition for the
Homeless’ new mixed-use, supportive housing development in
downtown Denver called Renaissance Uptown Lofts. The five-story
building contains a mix of studio, one- and two-bedroom apartments
along with retail and community space on the ground level. This
development blends supportive housing for families and individuals
experiencing homelessness, with affordable units for working
individuals who otherwise could not afford a quality dwelling in
a desirable location. The coalition also provides job training and
employment opportunities for homeless individuals and residents
of the complex. The Renaissance Uptown Lofts will be built in
accordance with Green Communities criteria.
C O M M U N I T Y
L E N D I N G
65 West
Cincinnati, OH
U.S. Bank provided a $12.4 million
construction loan to redevelop a
3.8 acre site into a gated apartment
community for college students.
The complex will feature 138 units
in five three-story buildings called
65 West. The project is located
adjacent to the University of Cincinnati on vacant land in a lowincome census tract which is part of the Clifton Heights/UC Joint
Urban Renewal Plan. The plan addresses the need for higher density
residential properties and the need to stabilize that area of the city.
The project is slated for completion by late summer 2011 and will
be LEED-certified.
Johnston Center Residence
Milwaukee, WI
U.S. Bank continues to support the work of Mercy Housing Lakefront
in Milwaukee through loans and tax credit equity. Johnston Center
Residence celebrated the grand opening of their 91-unit apartment
complex built on the site of the old Johnston Health Clinic. The
project was a combination of new construction and units rehabbed
from the 100-year-old facility. Case workers from Hope House, a
nonprofit agency specializing in care for the homeless, also provide
services for the residents, including employment training, stress
management and cooking classes.
The project ends homelessness for 10 percent of Milwaukee’s chronically
homeless individuals. The supportive housing partnership responsible
for the project, Mercy Housing Lakefront, Hope House, the City of
Milwaukee, Milwaukee County, and WHEDA, has been nominated
for the Milwaukee Awards for Neighborhood Development — Trail
Blazer award.
Rose Street Apartments
Seattle, WA
Solstice/Confluence
Missoula, MT
U.S. Bank provided a $5.6 million construction and permanent
financing loan to Solstice/Confluence for a multi-family affordable
housing development in Missoula. Solstice is the second phase of an
urban redevelopment project that consists of 40 housing units and
18,000 square feet of commercial space. The commercial space will
provide a permanent home for homeWORD, a nonprofit committed
to providing safe, healthy and affordable housing using sustainable
methods. It also promotes strong communities through housing
counseling and education for those most in need. Solstice is a unique
project for Missoula and the state. A first in the state’s history,
homeWORD is building the project using low income housing tax
credits for the residential units and new markets tax credits for the
commercial portion. USBCDC was the tax investor for these credits.
The project is also targeted for LEED Platinum certification.
Sienna Green
Roseville, MN
U.S. Bank financed $9.5 million and was a tax credit investor for
the acquisition and rehabilitation of Sienna Green, a 120 unit rental
complex in Roseville. Located less than one mile outside of the city
of Saint Paul, the development will provide 100 units that are
restricted to families identified as low- and moderate-income
households with some of the units reserved for people who
experienced long term homelessness.
This development stands out because of the physical and visual
transformation of the buildings and land, creating an inviting
campus of rain gardens, plantings and walking paths. In addition,
the owner, Aeon, worked with the University of Minnesota Center
for Sustainable Research and the Center for Energy and Environment
to make this a highly energy efficient and water efficient project,
installing three white roofs and two black roofs to collect energy
impact information for future developments in northern climates.
U.S. Bank provided $10.2 million in construction and permanent
financing for the Rose Street Apartments, a new, transit-oriented,
low income housing mixed-use tax credit project sponsored by
Housing Resources Group (HRG) and located in the Rainier Beach
neighborhood of Seattle. The project consists of 71 one- and twobedroom units plus ground-floor commercial space. Three of
the 71 units are live/work units and the remaining are available to
individuals and families with incomes at or below 60 percent of area
median income. The Rainier Beach community is transforming, due
to new light rail service within one mile of the project that runs
from Seattle Tacoma International Airport to downtown Seattle.
Additional financing partners include the City of Seattle, King
County, Washington State, the Rainier Valley Community
Development Fund and the Washington State Housing
Finance Commission.
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Environmental
Stewardship
At U.S. Bank, we believe we
Since formally beginning our efforts in early 2008, we have completed
can have a positive impact on
many projects to improve our performance and continue to look for
sustainability by protecting
additional opportunities through 2011 and beyond.
and conserving our natural
resources through methods
The key aspects of our approach have not changed, and include
these tenets:
such as:
• Developing less resourceintensive business practices
• Embracing opportunities
for financial products and
services that incorporate
features or benefits for
reduced environmental
impact
• Investing in environmentally
beneficial, profitable
business opportunities
• Engaging and educating
employees and customers
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Leadership
Our Environmental Stewardship Council, comprised of senior business line managers and
members of the U.S. Bank Executive Managing Committee, continues to meet regularly to
strategize methods for transforming our environmental stewardship commitments into action.
To support these efforts, we have incorporated the use of external tools and resources to assist
in bank and business line assessment of risks and opportunities stemming from environmental
issues. Our Board of Directors also receives regular updates informing them of our initiatives
and progress and to provide them with an opportunity to give their feedback.
Commitment
By year’s end 2010, we invested more than $2 billion in environmentally beneficial and
profitable business opportunities, not only doubling our original $1 billion commitment,
but attaining it more than five years early.
E N V I R O N M E N T A L
Engagement
We continue to encourage the engagement of
our employees both at home and work and
offer awards and recognition to employees
who have implemented creative, impactful
changes within their business line. An
enhanced online portal provides employees
access to information, tools and resources
to assist them in their efforts. These new
collaboration tools will provide us with
even more opportunities to interact
with employees in regards to our
environmental efforts.
Outreach
Our environmental
call to action,
Get Green with
US, provides an
opportunity to encourage others to join in
our efforts. In addition to specific, targeted
efforts, U.S. Bank continues to take a
leadership role in the financial services
industry by actively participating at a
leadership level with organizations such
as Environmental Banker’s Association
coalition, The Solar Energy Industries
Association and the NACHA’s
PayItGreen coalition.
Impact
Through the efforts mentioned here and
other initiatives, including the ongoing
upgrades of our technology and facilities,
we continue to see improvement in our
energy consumption and resulting carbon
emissions. We expect to see a continuing
downward trend in our same-site energy
consumption comparisons, following the
5% reduction in 2008 and the 3% reduction
in 2009. Our year end results will be
publicly reported in the Carbon Disclosure
Project (CDP) in mid-2011. In support of
our ongoing commitment to energy
efficiency, we also
became an
ENERGY STAR®
Partner in December.
S T E W A R D S H I P
HIGHLIGHTS OF 2010
• Improved the timeliness and accuracy
of our GHG emissions inventory and
reporting system through utilization
of Energy Star® Portfolio Manager.
• Formally committed to installation
of an advanced Environmental and
Energy Management (EEM) system
in late 2010 to help identify additional
energy efficiency opportunities at
our owned and operated facilities,
to track and measure our
environmental initiatives, and to
leverage best practices.
• Publicly reported our activities and
• Invested more than $550 million
in LEED-certified commercial real
estate loans. To further support our
commitment to green building, we
will also be piloting an energy update
loan with select commercial real
estate customers.
• Provided financing for more than $236
million in renewable energy projects,
such as solar and wind.
• Launched a green auto loan product
for small businesses, providing
discounted rates for fuel-efficient
vehicle purchases.
results through the 2009 CDP.
• Launched a second Get Green with
• Constructed three new LEED®-
certified branches bringing our
total to nine.
• Increased the percentage of total paper
used with certified and/or recycled
fiber content to almost 100%.
• Established 14 additional employee
Green Teams, bringing our total
number to 30.
US sweepstakes to promote employee
and customer adoption of electronic
statements and bill payments.
• Launched a fully online, and
mandatory, performance review
process, saving the paper that
would have been generated by the
five or more page reviews of more
than 60,000 employees.
• Celebrated Earth Day across the entire
• Established a strategic supply chain
team to begin review of opportunities
to integrate environmental performance
into supply chain management.
• Provided education to the entire
U.S. Bank Leadership Team (more
than 5,000 managers) on environmental
stewardship and specifically educated
the Environmental Stewardship Council
on potential climate change risks
and opportunities.
company through various methods
such as webinars from environmental
and energy-efficiency experts and
participation in the Million Trees Project.
• Incorporated environmental
sustainability questions into our
online grant application to improve
our understanding of company
support of environmental efforts
through our grant making process.
• Partnered with the Ohio Treasurer’s
office to offer EcoLink, a loan product
offering customers a significant rate
discount for energy-efficient upgrades.
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Financial
Education Programs
Financial Education Reaches Adults and
Children in our Neighborhoods
U.S. Bank offers high quality products and services specifically
designed to meet the needs of our communities. Because some
individuals still need a little extra help in meeting their financial
goals, we offer a wide range of financial education initiatives to
children, adults and small businesses. Each year we strive to expand
our participation in financial education initiatives for adults and
children in our communities. In 2010, more than 1,800 banking
seminars were attended by 40,000 people. Topics included consumer
and small business education, products and services, home buying
and financial education. From our perspective, teaching children
about money and finances is a huge step in ensuring financially
responsible and aware adults. To that end, U.S. Bank has fostered
ongoing relationships with Junior Achievement (JA) and is an
active participant in the American Bankers Association Education
Foundation’s National Teach Children to Save Day. In 2010,
we embarked on some new and innovative financial education
programs with colleges and universities as well as programs
that take financial education high tech.
Junior Achievement
Each year, employees dedicate their time by serving in leadership roles
or participating in local Junior Achievement (JA) initiatives. In 2010,
U.S. Bancorp employees participated in more than 550 educational
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seminars in elementary, middle and high schools reaching more than
12,000 students. In addition to volunteer efforts, the U.S. Bancorp
Foundation and U.S. Bank Community Affairs provided grant
support totaling $472,000 to JA chapters across the United States.
Teach Children To Save
The fourteenth annual Teach Children
to Save Day (TCTS) was a huge success.
To mark the 2010 event, more than 900
U.S. Bancorp employees made presentations
in schools throughout our market to students
in kindergarten through 12th grade. By the
end of the day, more than 19,000 students
learned how to make saving money a part
of their lifestyle.
Putting a twist on the 2010 TCTS activities, the Cincinnati, OH
market partnered with leaders from Xavier University’s basketball
program to provide an innovative presentation of Teach Children to
Save Day. The student athletes visited Hays-Porter Elementary School
to inspire 200 students from kindergarten through 7th grade to
become life-long savers. Utilizing the American Bankers Association
Education Foundation’s TCTS curriculum, students learned basic
counting skills, why it is important to save money and tips on “saving
green by going green”. The basketball leaders reminded students that
learning fundamental monetary skills, and putting them into practice
everyday, will help them succeed in life.
F I N A N C I A L
E D U C A T I O N
U.S. Bank Economic
Empowerment Program
U.S. Bank
of Bearville
Fullerton, CA
Build-A-Bear Workshop®,
the interactive retailer of
customized stuffed animals,
and U.S. Bank established a
partnership in September 2010
to increase children’s financial
literacy by introducing the
virtual U.S. Bank of Bearville.
This bank was created to engage the young people who logon to
bearville.com™ and teach them about the process of saving and
budgeting through interactive games and online activities.
During the 2010 Economic Forecast Conference, Richard Davis,
chairman, president and chief executive officer of U.S. Bancorp,
announced a five-year $500,000 grant for the establishment of a
U.S. Bank Economic Empowerment Program.
The creation of the U.S. Bank Economic Empowerment Program,
operated through Cal State Fullerton’s Center for Economic
Education and the Small Business Development Center, will focus
on financial literacy training for middle and high school teachers.
It will also provide technical assistance and training to help small
business owners secure funding to start or grow their business.
Additionally, it will implement financial education workshops and
establish Individual Development Accounts (IDA) for low- to
moderate-income students at Valadez Middle School in Placentia,
California. The five-year goal is to save money towards a
postsecondary education.
The U.S. Bank Center for Economic
Education at Dominican University
The mission of Dominican University’s highly successful Center for
Economic Education has been to improve and expand the level of
economic education provided to students from kindergarten through
high school, to enable them to become effective participants in the
economy. With a multimillion dollar contribution, U.S. Bank and
Dominican University look to further expand the scope of its mission
to address adult financial literacy in the Chicagoland area.
The newly renamed U.S. Bank Center for Economic Education will
focus on three main programs. The first is a formalized financial
education training workshop for local elementary, middle and
high school teachers. Led by economics professors at Dominican
University, the goal will be to equip teachers with the skills they
need to teach financial literacy and economics to their students.
The second and third programs involve the creation of innovative
youth and adult financial education materials and new methods for
delivering financial education. It also provides for the development
of practical tools for parents in an effort to provide age appropriate
financial literacy to their children.
U.S. Bank Financial Scholars and EverFi
In May 2010, U.S. Bank established a partnership with EverFi Inc.,
a company committed to helping young adults navigate today’s
financial world by providing an interactive media platform to
teach students core concepts of financial literacy. The partnership
establishes the U.S. Bank Financial Scholars program in 27 high
schools in San Diego, the Twin Cities and the San Francisco Bay area.
A variety of useful financial and savings tips are provided to citizens
when they visit U.S. Bank of Bearville, which has similar features to
real life branches. These features include an ATM machine, vault, a
welcome desk and teller counter. Citizens of Bearville can “work” as
a bank teller to learn money counting skills. Bearville citizens can also
deposit Bear Bills®, the official currency of Bearville, at the bank and
earn interest with a certificate of deposit. Through this simulated
savings vehicle, children learn that the longer Bear Bills are stored,
the more interest they earn.
From the program’s launch in September through year’s end, there
were more than 2.7 million visits to the bank and $2.7 billion Bear
Bills invested.
U.S. Bank Credit
Wellness Center
In 2010, U.S. Bank
introduced a new resource
on usbank.com that helps
consumers take control of
their credit score, so that it
can be an asset at important
moments throughout their
lives. Visitors to the
U.S. Bank Credit Wellness Center will find answers to common questions
about credit, tools to help them make good decisions about their own
credit and tips on how to protect their credit rating for a lifetime.
The interactive site allows consumers to participate in a number of
credit education activities. They can slide a bar to better understand
a good vs. bad credit score, take an online quiz to test their credit
knowledge, watch videos about people in different credit situations
and even use a credit score simulator to see how financial decisions
impact an individual’s credit score.
Using EverFi technology, U.S. Bank Financial Scholars takes students
ages 17 to 22 on web-based tours of topics ranging from the New
York Stock Exchange, to the pitfalls of bad credit and consumer
fraud. Students go through a six hour online training course and
receive a certificate of completion when they pass all of their
modules. Teachers have administrative control to check on the
progress of their students throughout all six modules. U.S. Bank
is also there to assist teachers with accessing additional resources
and training tools to motivate students to make positive
financial decisions.
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Serving Our
Communities
Education and Empowerment
Omaha, NE
U.S. Bank is actively engaged at the community level in supporting
programs that enhance financial education and self-sufficiency.
Whether it is providing students with real-world banking experiences,
or helping individuals develop the skills necessary to succeed in the
workforce, our focus is to build stronger and healthier communities.
Students at Skinner Magnet Center in
Omaha now have real-world banking
experience added to their math curriculum
through a student-run bank branch. The
branch is only open to Skinner Magnet
students and is made possible through
a partnership between Skinner Magnet
Students at work at Bank In School
Center, the UNO Center for Economic
Education and U.S. Bank. The student bank is designed to introduce
the concept of saving money at an early age, demonstrate that saving
money will benefit a student’s future and increase parental involvement
in children’s lives through financial education and banking activities.
Chicago, IL
Christ the King Jesuit College Preparatory
School and Cristo Rey Jesuit College
Prep are Catholic Jesuit secondary schools
(grades 9-12) using the Cristo Rey model
to serve young men and women from
Chicago’s Austin and Pilsen neighborhoods, respectively, as well as
other communities on Chicago’s West Side. Both schools are small,
safe and faith-based. Their missions expand on a tradition of
successful education with a new urban idea.
U.S. Bank made a major commitment to support the Corporate
Work Study (CWS) program offered at both schools. The program
encourages corporate and nonprofit partners to hire Christ the King
and Cristo Rey students as interns during the school year. U.S. Bank
currently has thirteen interns who work in various U.S. Bank branch
and corporate office locations. The schools are located in two of
Chicago’s poorest neighborhoods. These areas have some of the
highest crime and lowest graduation rates in the city. The schools
provide a unique opportunity for children from low-income
neighborhoods to receive a quality education, as well as an
opportunity to experience what it’s like to work in a corporate,
or nonprofit environment during their high school career.
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The student branch bank is open once a week for savings deposits
only and staffed by Skinner Magnet Center student tellers, supervised
by U.S. Bancorp employee volunteers. U.S. Bank matches a student’s
first deposit of up to $5 to help them get started, and offers incentives
such as piggy banks, key chains, pens and pencils as students reach
various savings goals. Students maintain their savings accounts for
the duration of their time at Skinner. Upon graduation, participating
students are encouraged to open a traditional bank account to
continue using the savings skills leaned at Skinner.
Pocatello, ID
U.S. Bank sponsored and participated in the 10th Annual Women
and Work Conference presented by the Center for New Directions
and held at Idaho State University. The conference, Opportunities
in Trade and Technology Careers, was attended by 275 participants,
many of whom were single parents and low-income wage earners.
This conference is provided for women involved with, or interested
in, nontraditional occupations. It provides an exceptional source of
information through workshops, speakers, networking and exposure
to local training and education resources.
C O M M U N I T Y
Homeownership and
Community Stabilization
U.S. Bank is committed to helping customers avoid foreclosure and
remain in their homes. We offer assistance to our customers having
trouble making monthly payments, as they may qualify for approved
programs. U.S. Bank Home Mortgage is also participating in the
Making Home Affordable program announced by the U.S. Treasury
Department. We fully support efforts to help families lower monthly
mortgage payments, to avoid foreclosure and foreclosure scams and
remain in their homes.
In an effort to help our borrowers and communities withstand
the housing crisis, U.S. Bank established outreach teams to support
nonprofit partners and public officials with loss mitigation and
community stabilization efforts. In 2010, our national loss mitigation
teams attended 22 prevention workshops nationwide and outreached
to more than 45,000 borrowers. The main focus of our outreach
teams is two fold — to educate homeowners on available programs
that will sustain homeownership and to maintain the integrity of
their respective communities, by rehabilitating blighted properties
in collaboration with nonprofit partners.
Chicago, IL
Throughout a three-day period, U.S. Bank partnered with the
Northwest Indiana Reinvestment Alliance (NIRA) and Neighborhood
Housing Services (NHS) of Chicago, to provide loan modification
assistance at two foreclosure prevention workshops. Employees from
the U.S. Bank Loss Mitigation team were on-site at each event, and
met with more than 60 customers, in an effort to modify their home
loans. In preparation for both workshops, the Loss Mitigation team
mailed notices to nearly 4,000 existing customers to ensure that the
events were well-publicized, and that customers were given advanced
notice about the workshops. The combined events attracted more
than 600 total attendees from Northwest Indiana, metropolitan
Chicago and parts of Michigan and Wisconsin. Home mortgage
servicers and affordable housing agency representatives were on
hand to help homeowners find solutions to the foreclosure crisis
they were facing.
S E R V I C E
Tax Assistance
At U.S. Bank, we are proud of the support we provide our
communities. We are even more proud of our employees who
donate their time and technical talents, providing much needed
services in the communities we serve. Whether it is becoming certified
to assist with basic tax preparation or counseling for special tax
credit programs, our employees are helping to increase assets for
local citizens, which in turn, strengthen the local economy.
Twin Cities, MN
In partnership with AccountAbility Minnesota, 25 U.S. Bancorp
employees spent several hours in training and examinations to become
certified to assist with preparation of state and federal income tax
returns. Upon completion, they each volunteered 40 hours throughout
a ten-week period at AccountAbility Minnesota Volunteer Income
Tax Assistance (VITA) sites throughout the Twin Cities. Results were
impressive, as more than 10,000 low-income tax payers received
assistance and 21,800 tax returns were prepared, providing $18.8
million in state and federal tax refunds.
Clarksville, TN
During February and March 2010, U.S. Bank participated in the local
United Way’s VITA program. U.S. Bancorp employees volunteered at
the VITA sites to assist individuals by helping them prepare tax forms,
open up checking and saving accounts on site, complete direct deposit
forms, as well as educate the clients on U.S. Bank’s AccelaPay prepaid
debit card. The AccelaPay card is a safe and convenient way to receive
tax refunds. This partnership with the United Way helped 1,200
clients file their tax returns, of which 413 were able to take advantage
of the EITC program.
Supplier Diversity Initiatives
U.S. Bank is dedicated to creating an inclusionary procurement
bid process. Identifying, developing and building strong business
relationships with certified minority and women owned enterprises
(MWBEs) are paramount to this process. Our Supplier Diversity
programs demonstrate our commitment to the process of promoting
business opportunities at the bank for certified MWBEs. This
includes identifying opportunities to participate in the competitive
bid process on an equal basis with all other bidders and to promote
business development of these MWBEs.
Portland, OR
Cincinnati, OH
During the Home Ownership Center of Greater Cincinnati’s Buzz
Us Third Annual Foreclosure Phone-a-Thon, 120 U.S. Bancorp
employees answered phones at WCET Channel 48. More than
7,000 calls came in this year, and our bankers processed more
than 2,100 applications from homeowners at risk, compared
to 1,340 applications last year. This was another successful
community initiative executed with the help of business
partners Fannie Mae, Garner & Kerns, Cincinnati State
College and Taft Stettinius & Hollister.
An example of this commitment to supplier diversity was demonstrated
in Portland, when U.S. Bank hosted the first Doing Business with
U.S. Bank: Supplier Diversity Reception. The purpose of the event
was to provide an opportunity for MWBEs to network with each
other and with U.S. Bank partners. It also provided useful information
about registering as a U.S. Bank vendor as well as what U.S. Bank can
offer through its small business banking solutions. Eighty-eight guests
attended the event, and the response was so favorable that similar
events will be planned in other U.S. Bank markets in 2011. The event
has also created additional opportunities for U.S. Bank to become
engaged with the local business community.
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WE PUT OUR MISSION
INTO ACTION EVERY DAY
FOR OUR CUSTOMERS,
COMMUNITIES AND
SHAREHOLDERS.
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Building communities. Moving forward.
2010 CORPORATE CITIZENSHIP REPORT
U.S. Bank is not responsible for and does not guarantee the products, services or performance of its affiliates or
third party providers. Deposit Products offered by U.S. Bank N.A. Member FDIC
Insurance and Investment products are:
NOT A DEPOSIT
NOT FDIC INSURED
NOT GUARANTEED BY THE BANK
NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
MAY LOSE VALUE
U.S. Bank and its representatives do not provide tax or legal advice. Individuals should consult their tax and/or legal advisor for
advice concerning their particular situation. U.S. Bancorp, including each of our subsidiaries, is an Equal Opportunity Employer
and a Drug-Free Workplace.
U.S. Bank is not responsible for and does not guarantee the products, services or performance of its affiliates or
third party providers. Deposit Products offered by U.S. Bank N.A. Member FDIC
Insurance and Investment products are:
NOT A DEPOSIT
NOT FDIC INSURED
NOT GUARANTEED BY THE BANK
NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
MAY LOSE VALUE
U.S. Bank and its representatives do not provide tax or legal advice. Individuals should consult their tax and/or legal advisor for
advice concerning their particular situation. U.S. Bancorp, including each of our subsidiaries, is an Equal Opportunity Employer
and a Drug-Free Workplace.
41786
2010 CORPORATE CITIZENSHIP REPORT
Building communities. Moving forward.