Buildingcommunities.Movingforward. - U.S. Bank · Corporate Profile U.S. Bancorp is a diversified...
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Building communities. Moving forward. 2010 CORPORATE CITIZENSHIP REPORT
Transcript of Buildingcommunities.Movingforward. - U.S. Bank · Corporate Profile U.S. Bancorp is a diversified...
Building communities.Moving forward.2010 CORPORATE CITIZENSHIP REPORT
U.S.Bankisnotresponsibleforanddoesnotguaranteetheproducts,servicesorperformanceofitsaffiliatesorthirdpartyproviders.DepositProductsofferedbyU.S.BankN.A.MemberFDIC
InsuranceandInvestmentproductsare:
U.S.Bankanditsrepresentativesdonotprovidetaxorlegaladvice.Individualsshouldconsulttheirtaxand/orlegaladvisorforadviceconcerningtheirparticularsituation.U.S.Bancorp,includingeachofoursubsidiaries,isanEqualOpportunityEmployerandaDrug-FreeWorkplace.
NOTADEPOSITNOTFDICINSUREDNOTGUARANTEEDBYTHEBANK
NOTINSUREDBYANYFEDERALGOVERNMENTAGENCYMAYLOSEVALUE
41786
Ranking U.S. Bank is 5th largestU.S. commercial bank
Asset size $308 billion
Deposits $204 billion
Loans $197 billion
Customers 17 million
Bank branches 3,031
ATMs 5,310
NYSE symbol USB
At year-end December 31, 2010
Corporate Profi le
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
U.S. BancorpAt A Glance
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 Community Lending
p18 Environmental Stewardship
p20 Financial Education
p22 Community Service
p24 U.S. Bank Mission
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.
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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
of homeownership.
U.S. Bank is committed to empowering individuals through financial education. From
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
ongoing relationships with Junior Achievement and is an active participant in the
American Bankers Association Education Foundation’s National Teach Children to
Save Day. Collaboration with universities and national organizations is a key factor
in fulfilling our commitment. We strongly believe that financial education is crucial to
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
time and expertise to teach others about financial literacy, one classroom at a time.
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
and developers to make our communities stronger together.
Sincerely,
Richard K. DavisChairman, President and Chief Executive Officer
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U.S. Bancorp Foundation Grants and EmployeeMatching Gift ProgramEach year, the U.S. Bancorp Foundation provides millions of dollars in grants tononprofit organizations in the focus areas of artistic and cultural enrichment, educationand economic opportunity. We collaborate with community partners who understandthe needs of individuals, families and organizations, and match our resources with thosecommunity needs. Through our collaborations, families can find affordable places tocall home, people can gain job skills, youth from diverse backgrounds can achieve inschool and the wealth of the arts can become more accessible to everyone. In 2010 theU.S. Bancorp Foundation distributed more than 3,100 grants to organizations in ourcommunities, for a total of more than $19 million.
U.S. Bancorp also recognizes and appreciates our employees’ contributions to ourcommunities. Through the Employee Matching Gift Program, the U.S. BancorpFoundation supports employee efforts to improve our communities by matchingtheir contributions to nonprofit organizations. The U.S. Bancorp Foundation matchedmore than 10,800 employee donations for a total of more than $1.8 million supportingcauses 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 disasterrelief for earthquake victims in Haiti and Chile. Our employees generously contributedmore than $155,000 to help victims of the devastating earthquakes. The U.S. BancorpFoundation matched these gifts and provided more than $100,000 in grants to theAmerican Red Cross. This made U.S. Bancorp’s combined contribution for disasterrelief efforts in Haiti and Chile more than $419,000. These donations continue tohelp victims by providing them with resources, services, and training to rebuild theirhomes and lives.
Summary of U.S. Bancorp Foundation Paymentsby Program Area
By investing in innovative
programs designed to serve
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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Corporate ContributionsEvery year, our investments in community-focused programs and services make agenuine difference, and 2010 was no exception. Corporate contributions and communitysponsorships are an integral part of our company’s philanthropic initiatives. Support forcommunity events, local festivals and topical workshops add great value to the communitieswe serve. Corporate contributions and nonprofit sponsorships totaled more than $16.6million in 2010.
Five Star Volunteer AwardEach year U.S. Bancorp recognizes our organization’smost exceptional employee volunteers through the FiveStar Volunteer Award Program. In addition to recognitionas an outstanding volunteer, each winner is honored througha financial contribution to the organization cited in theirnomination. In 2010, we honored 138 employees in 28 stateswith the Five Star Volunteer Award and contributed $100,000 to local nonprofits inrecognition of their service. Since the program’s inception in 2005, more than 920 awardshave been presented to our most outstanding U.S. Bancorp employee volunteers, and$738,500 in contributions have been made to local community organizations in supportof those employees.
United WayU.S. Bancorp and our employees are proud to share a strongpartnership with the United Way. In 2010, we implementedour first company-wide online pledging effort, making it easierfor our 60,000 employees to get involved in one of more than200 local campaign efforts. Our campaign theme was Dare to Dream. As bankers, wemake dreams come true by supporting our customers and our communities in the workthat 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” toachieve education and to gain the personal assistance necessary to improve their lives.Through employee pledges, special events and U.S. Bancorp Foundation grants, we raisednearly $11 million to support United Way 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
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
generations can thrive. Through
this impressive campaign, thousands
of children and adults across the
country can “Dare to Dream”.
~Richard Davis
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Cincinnati leaders show their support for United Way
C H A R I T A B L E G I V I N G
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Artistic & CulturalEnrichment
Reno, NV
The Nevada Museum of Art presents exhibitions and educational programs that help topromote public dialogue about human interaction with natural, man-made and virtualenvironments. Funding from the U.S. Bancorp Foundation supported the Scholastic ArtAwards of 2010, which provided students from Northern and Central Nevada with theopportunity to have their artwork judged by a panel of experts and exhibited for severalweeks at the museum. Eleven hundred submissions were received from students in Renoand 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 collegescholarships 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 freeWooden O productions in parks throughout the Puget Sound region during the summer of2010. Othello and Much Ado About Nothing were performed 31 times in 13 cities beforea total of 12,600 people of all ages and incomes. Nearly 13 percent of the audience wascomprised of youths and their families. Much Ado About Nothing featured two of the mostprominent performers in the Pacific Northwest, Hans Altwies and Amy Thone. Husband andwife offstage, they portrayed the witty and bickering leads in the play. The production brokerecords for attendance, as well as for on-site donations. Set during World War II, andfeaturing Wooden O founder George Mount in the role of Iago, Seattle Shakespeare’spowerful Othello was hailed by Broadwayworld.com as “a wonderful production.”
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.
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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Sacramento, CA
The Crocker Art Museum Association (CAMA) was established 125years ago by the Crocker Family. It is one of the most prestigious andwell-recognized organizations in Greater Sacramento, raising fundsand awareness of the Crocker Art Museum. The Crocker Art Museumis dedicated to promoting an awareness and enthusiasm for humanexperience through art. To fulfill its mission, the Crocker Art Museumcollects, preserves, exhibits and interprets outstanding works of artthat are the product of human ingenuity and creativity. Throughyouth, family and adult programs, the museum provides aestheticand educational experiences that foster self-awareness and personalinquiry, as well as an understanding of, and respect for, communitytraditions and values.
U.S. Bancorp Foundation has made significant contributions toCAMA over the years and a crucial investment to CAMA in 2010when a new wing of the museum was unveiled. The $100 millionexpansion, designed by the internationally renowned Gwathmey Siegel& Associates Architects, was built adjacent to the original Victorian-styled museum building. It was designed to be a world-class facilitythat will serve as an integral component of the region’s cultural andeconomic life. The new wing is 125,000 square feet and is one of thelargest museum expansions in California history. It triples the size ofthe 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 uniqueAmerican art form to low- and moderate-income people. This sponsorshipbenefits more than 600 performing artists and the more than 160,000people who tour the museum or attend public performances there eachyear. In addition, U.S. Bank has collaborated with the American JazzMuseum to offer small business development classes for performingartists to encourage financial stability in the industry.
Bay Area, CA
U.S. Bank is proud of our newpartnership with Cal Performances.A U.S. Bancorp Foundationoperating support grant not onlyensured the success of theirupcoming performance season, butalso enabled them to provide morethan 100 robust arts and artseducational programs to elementary school students, adults, novicesand scholars. These programs serve 22,000 K-12 students and teachersand are nationally recognized as model arts education programs.With the “Cal Performances in the Classroom”, they provide professionaldevelopment for teachers, classroom prep and school time performances.Their flagship program “Ailey Camp” is their free six week summercamp program conceived by the Alvin Ailey American Dance Theaterin collaboration with Cal Performances. Underserved middle-schools(children aged 11 to 14) that do not usually have access to the artsrotate through dance classes, enjoy cultural field trips, attend dailypersonal development workshops and stage a final performance.U.S. Bank is excited and proud of our new partnership withCal Performances.
S U P P O R T I N G T H E A R T S
Jumping at Ailey Camp
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.
Everett, WA
Elementary school children throughout Snohomish Countyimpacted lives around the world when they learned themeaning of a very big word — philanthropy. Supportedby the U.S. Bancorp Foundation, more than 7,000 childrenparticipated in the Great Money Challenge II, which wasthis year’s theme for the Imagine Children’s Museum’sannual community literacy initiative. The program, nowin its fifth year, uses an insightful book as a springboardinto a larger conversation about childhood experiences.Volunteers, including U.S. Bancorp employees, visited312 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 tofind a way to use the money to make a difference —to be philanthropists.
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Education
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
chess can significantly change the lives of children who
are proving to themselves, and others, that they can do
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
the Oregon Scholastic Chess Foundation. Funded through
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.
Las Vegas, NV
The mission of Teach For America — Las Vegas Valley is to build amovement to eliminate educational inequity by enlisting our nation’smost promising future leaders in the effort. In Las Vegas, more than6,000 students are served by 100 teachers who do whatever it takesto 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 SouthernNevada, and truly maximize their impact on the low-income studentsin the community.
Los Angeles, CA
The U.S. Bancorp Foundation provided a grant to Verbum Dei HighSchool Work Study Inc., a nonprofit employment agency that placesVerbum Dei High School (VDHS) students in internships in localcorporations. VDHS is an all-male Jesuit-managed archdiocesanschool in South Los Angeles, where approximately 275 studentscome from low-income families. The program is committed toservicing motivated disadvantaged students and impoverishedfamilies who could not otherwise afford a private collegepreparatory education.
In addition to contributing capital for the program, U.S. Bankcorpcommitted 240 hours of monthly mentorship to six studentsparticipating in the subsidized internship from August 2010 throughJune 2011. Each student is assigned to a U.S. Bankcorp employee inthe Los Angeles Commercial Banking Department who acts as theirsupervisor for five days each month. This program provides studentswith invaluable work experience in a large corporation, while helpingto cover the cost of their tuition. One hundred percent of thestudents in this program go on to secondary education.
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S U P P O R T I N G E D U C A T I O N
Economic OpportunityAffordable HousingWe support organizations that encourage the preservation, rehabilitation and constructionof quality, affordable housing.
Sioux Falls, SD
U.S. Bank is a proud supporter of the Sioux Falls Community Foundation, and has beenfor the past 23 years. The 2010 operating grant from the U.S. Bancorp Foundation helpedto 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 organizationhas 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-incomefamilies, improving the economic well-being of the community.
Economic DevelopmentWe fund programs that support small business development and expansion, commercialrevitalization and job creation.
Kansas City, MO
The Hispanic Economic Development Corporation (HEDC) was established in 1993for the purpose of developing and implementing economic development initiatives thatwould positively contribute to the quality of life for Latinos in Kansas City. The Hispaniccommunity is dispersed throughout the metropolitan area with high concentrations in theurban core areas of Kansas City, Kansas and Missouri. The neighborhoods served by HEDCare challenged by unemployment, as well as underemployment, income levels below thefederal poverty level and lack of quality housing, grocery stores and banks. Through aprogram grant from the U.S. Bancorp Foundation, HEDC was able to provide unique,bilingual, small business education programs to more than 50 entrepreneurs using acurriculum from the Kauffman Foundation called Primer Paso FastTrac®.
A community prospers when
businesses thrive, people have
stable jobs, housing is safe and
affordable and residents have
access to the services they
need. Through the U.S. Bancorp
Foundation and the Community
Affairs Division, we support the
creation of economic opportunity
through charitable grants and
corporate contributions to
organizations that provide
affordable housing, encourage
self-sufficiency and foster
economic development.
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Portland, OR
The U.S. Bancorp Foundation provided a grant to help launchthe Alberta Main Street Program. Alberta Street business andneighborhood stakeholders responded to a Request for Proposal,issued by the City of Portland, to designate the avenue as a MainStreet corridor. One of the requirements of the application was toidentify financial support from businesses in Greater Portland. Inview of its historical significance, great location and wonderfulpotential for growth, U.S. Bank was eager to provide a grant to helpcreate the Alberta Main Street Program. This neighborhood businessarea reflects many of the most important elements of a communitythat just needs a boost to grow by leaps and bounds. U.S. Bank isplaying a key advisory role as the Main Street Program movesforward with strategic planning and implementation that willhelp ensure this Main Street is a very attractive destination.
Tucson, AZ
The mission of the Microbusiness Advancement Center (MAC)is to provide technical assistance to entrepreneurs, place smallbusiness microloans in southern Arizona and encourage jobcreation. MAC programs, such as the Pima County Women’sBusiness Center and SBA Small Business Development Center,provide clients with opportunities to attend training classes, obtainmicroloans and access resources to help them start or grow theirbusiness. Programs are available in both English and Spanish.U.S. Bank is proud to support this organization through a grantfrom the U.S. Bancorp Foundation.
Self-SufficiencyWe support programs that assist low- and moderate-incomeindividuals in development of work and life skills essential toself-sufficiency, with a focus on work-entry programs, specificskills training, employment retention and personal financialmanagement training.
Cedar Rapids IA
Waypoint Services for Women, Children & Families is a nonprofitorganization that provides services to women and children in crisisdue to homelessness, poverty, domestic violence or sexual assault.Their mission is to strengthen and empower women and families byproviding advocacy, crisis intervention, supportive services, shelter,quality child care and community leadership. The U.S. BancorpFoundation provided a grant for case management services at theWaypoint Madge Phillips Center, a 24-hour program servinghomeless and nearly homeless women and children. A casemanagement service provides one-on-one support and guidancefor women to identify, prioritize and make progress on goals that willmove them closer to self-sufficiency. U.S. Bancorp employees serve onthe board of directors and board of trustees, as well as volunteermany hours to help with fundraising events.
Economic EducationWe support programs that provide financial education, home buyercounseling and related economic education.
Operation Hope
U.S. Bank Vice Chairman and Head of Consumer Banking RichardC. Hartnack and Operation HOPE Founder, Chairman and CEOJohn Hope Bryant jointly announced U.S. Bank’s $1.75 million,five-year commitment to support the national financial literacyempowerment work of Operation HOPE, in communities whereboth organizations operate.
U.S. Bank actively supports Operation HOPE, and this pledgewill expand programs aimed at financial literacy training for youthand adults. The pledge includes $200,000 of financial and in-kindsupport of the Financial Literacy Empowerment Center in Maywood,California, along with a $310,000 yearly contribution to help fundthe initiatives being advanced by the Financial Services Roundtableat Operation HOPE. Additionally, many U.S. Bancorp employees areinvolved in Operation Hope activities, including Mr. Hartnack whoserves as Vice Chairman of the Board.
In making these financial commitments to Operation HOPE, U.S. Bankstrives to encourage other financial service organizations to joinOperation HOPE’s Silver Rights Movement, making financialliteracy a national priority and an essential objective of everyfinancial service provider in America.
Childcare and TransportationWe support broad childcare and transportation initiatives designedto help people transition from welfare to work.
Quad Cities IA/IL
The U.S. Bancorp Foundation provided a grant to Bethany forChildren and Families’ Ways to Work program. This programserves low- to moderate-income parents that have challengingcredit histories. Qualified applicants are provided with a small,low-interest, short-term car loan that enables them to maintainemployment, care for their families and re-establish good credit.To enhance the program’s success, applicants also receive financialeducation. In the last 12 years this program has provided muchneeded assistance to more than 500 families.
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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
EmployeeCommunity InvolvementU.S. BankDevelopment NetworkAt U.S. Bank, our greatest asset is our employees. The DevelopmentNetwork promotes the personal and professional development ofU.S. Bancorp employees by encouraging and capitalizing on theirdiversity. With 57 Development Network Chapters, employeesthroughout U.S. Bank are provided opportunities to learnnew skills, network with colleagues and engage in meaningfulcommunity projects.
U.S. Bank Green TeamsU.S. Bank Green Teams bring togethergroups of employee volunteers interestedin being internal ambassadors forU.S. Bank’s environmental stewardship.Green Team members encourage sustainablebehavior from fellow employees at work and home, such as printingduplex, abstaining from printing when unnecessary, turning off lightsnot being used, recycling, utilizing public transportation or bikingand walking to work instead of driving. U.S. Bank currently has 30active Green Teams working to identify and implement opportunitiesacross the company.
Five StarVolunteer DayU.S. Bank is committed to making the communities we serve abetter place because of our presence. The Five Star Volunteer Dayprovides up to eight hours of paid time-off each calendar year foreligible employees to volunteer and become actively involved intheir local communities.
U.S. Bank is also proud to co-sponsor an annual CommunityService Initiative in partnership with The Financial ServicesRoundtable. During Community Service 2010 sponsored by theFinancial Services Roundtable, more than 36,000 employeesacross our company participated in 2,600 community involvementactivities to improve the neighborhoods in which they live andwork. 217,000 individuals were helped through these efforts.
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SAN DIEGO, CA
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
magazines, toothbrushes and socks to sunscreen, lip
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.”
Los Angeles, CA
For more than seventy years, the Los Angeles Mission, a nonprofitorganization serving the homeless living on the streets of downtown’sSkid Row, has had an impact on thousands by providing humanitarianservices to those in need. For the Mission’s 11th Annual End ofSummer Block Party, U.S. Bank contributed $25,000 to provide2,500 meals to the homeless and equip 800 children with fully-stocked backpacks to start their school year off right.
In addition, 45 U.S. Bancorp employees, family members andfriends volunteered a combined 180 hours to serve food, distributebackpacks, paint faces and host games. This was the fifth yearU.S. Bank participated in the event, which was coordinated bythe Los Angeles Development Network Chapter and theCommunity Affairs Division.
Milwaukee, WI
The Milwaukee/Southeast Wisconsin Development NetworkChapter and U.S. Bancorp Fund Services Green Team coordinatedthree outings this year to clean up a stretch of highway for theAdopt-A-Highway program. A group of employees put on glovesand safety vests to remove trash and debris from a two-mile segmentof their state highway. This environmentally-friendly outingpromoted employee networking and camaraderie, resulting in apristine and safe stretch of highway for their local community.
Lincoln, NE
Twenty years ago, U.S. Bank was the lead sponsor for the firstLincoln Paint-A-Thon, a program devoted to people helping fellowhomeowners in their community who are physically or financiallyunable to paint their homes. Throughout the past two decades, oursupport and endorsement of the Brush Up Nebraska Paint-A-Thonprogram has only grown.
The Nebraska Development Network coordinated the participationin the 2010 Paint-A-Thon. More than a dozen U.S. Bankers paintedtwo homes in Lincoln and Omaha. At each site, volunteers scrapedold paint, primed and prepped the houses and brushed on the finalcoat of new color, brightening the home’s exterior and the lives ofthe two families that reside there.
Cincinnati, OH
More than 30 U.S. Bancorpvolunteers partnered withPeople Working Cooperatively(PWC) to provide energysaving tips and educate low-income, elderly and disabledCincinnati residents aboutenergy conservation. PWC is aunique nonprofit organizationthat strengths communities byproviding professional, criticalhome repairs, weatherization,modification and maintenanceservices to help low-income, elderly and disabled residents stay intheir homes. In addition to educating residents, volunteers alsoincreased the energy efficiency of the homes by testing and cleaningappliances to make sure they were working efficiently and installingenergy saving light bulbs. The training was invaluable as volunteerswill now be able to share their new knowledge with many others,creating a positive ripple effect in the community and the environment.
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C O M M U N I T Y I N V O L V E M E N T
Employee volunteer testinga homeowner’s furnace
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2 0 1 0 A C C O M P L I S H M E N T S
2,500 households helped toobtain down payment assistance
SMALLBUSINESSES
$7.2 billion of smallbusiness loans encouragingbusiness expansions, start-upcompanies and job creation
HOMEOWNERSHIP
COMMUNITYINVESTMENT
$1.9 billion in communitydevelopment investments
$38 million in Foundationand Corporate Contributions
$2.1 million of in-kindOffice Space for 62 non-profit organizations
COMMUNITYLENDING
$1.5 billion in communitydevelopment loans, creating8,600 units of affordablehousing and 1,200 jobs
$7.9 million in FederalHome Loan Bank AHP Grantssecured for our communitypartners for developmentof 1,000 units ofaffordable housing
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2 0 1 0 A C C O M P L I S H M E N T S2 0 1 0 A C C O M P L I S H M E N T S
$1 billion in totalloans and investments inenvironmentally beneficialbusiness opportunities
90% increase inthe number of U.S. BankGreen Teams
FINANCIALEDUCATION
1,800 financialeducation seminarsheld in our communitiesserving 40,000 individuals
ENVIRONMENTALSTEWARDSHIP
COMMITMENTTO THE COMMUNITYREINVESTMENT ACT
U.S. Bank National Associationis proud to have been awardedan “Outstanding” ratingfor its commitment to the letterand the spirit of the CommunityReinvestment Act (CRA). Thisis the highest possible ratinggiven by the Office of theComptroller of the Currency(OCC). The OCC reported thatwe were “Outstanding” in allthree CRA categories, givingU.S. Bank National Associationan “Outstanding” in thelending, investmentand service tests.EMPLOYEE
LEADERSHIP
1,600 U.S. Bancorpemployees servingas board members ofcommunity developmentfocused organizations
Investing inOur Communities
Courthouse LoftsKansas 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 formerFederal Courthouse building in Kansas City, into the Courthouse Apartments.
Located at 811 Grand Boulevard, the nine-story building will be converted into 109 one-bedroom and 67 two-bedroom loft apartments. U.S. Bank worked with the Missouri HousingDevelopment Corporation to purchase low-income tax credits, typically reserved for financingaffordable housing for those who earn less than 60 percent of the area median income. Thismeans all of the units will be made available at affordable rates. U.S. Bank also purchasedstate 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 includingupdated features such as underground parking, a fitness center, a community room and rooftoppatio. All units will have durable, Energy Star appliances including a washer and dryer. About10,000 square feet of potential commercial space on the first floor will be developed and availablefor lease at a future date. Also, space in the four former primary, two-story courtrooms, locatedon the fourth through sixth floors, will be renovated. In addition to the creation of affordablehousing, at least 75 jobs will be created during the construction process.
Miracles ClubPortland, OR
A $4.9 million low-income housing tax credit equityprovided by USBCDC and a $1.3 million communitydevelopment loan made available by U.S. Bank provided theinvestment capital needed for the development of MiraclesClub apartments. The five-story, mixed-use building willinclude 40 apartment units for individuals committed to anongoing program of addiction recovery. The ground floor ofthis innovative project will be home to the Miracles Club, a“social club of refuge” focused on drug and alcohol recoveryservices. Social events, Alcoholics Anonymous meetings, peer-to-peer services and mentoringwill be offered at the new home for this nonprofit organization. This project’s unique structurehas garnered significant state, county and local political support in Portland. Green designfeatures of the building include rainwater collection for non-potable uses, a rooftop heatrecovery ventilation system, pervious pavement and swales for runoff collection and greeninterior finish materials.
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 low-
income communities.
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Glassell ParkLos Angeles, CA
USBCDC is proud to be thetax credit investor for theGlassell Park Apartments ina diverse neighborhood ofnortheast Los Angeles.USBCDC provided the project a $12.6 million low-income housingtax credit equity investment, and U.S. Bank financed the project witha $2 million permanent loan. The Glassell Park mixed-use projectwas made possible by a development agreement between AbodeCommunities and the Los Angeles Unified School District (LAUSD),and is the first development of its kind to place housing and a LAUSDschool on the same site. The 1.35 acre infill site is vacant andsurrounded by single family homes, multi-family apartments,industrial buildings and a new early childhood education center,which is under construction. The apartment building willoffer 35 two-bedroom and 15 three-bedroom units to familiesearning between 30 and 60 percent of area median income. It willbe built atop a bi-level, underground parking structure offeringresidents exclusive use of 55 parking spaces. The apartments andeducation center will share amenities including community roomsand playgrounds. Residents will benefit from the after-schoolprograms and adult education classes that will be offered on thepremises. The energy-efficient and sustainable design features includea photovoltaic system for common area heating, solar hot waterfor the central laundry, water-saving fixtures for kitchens andbathrooms and drought-resistant landscaping, all of which willallow for Leadership in Energy and Environment Design, or LEED®,certification. The LEED green building certification program is thenationally accepted benchmark for the design, construction andoperation of green buildings.
Rocky MountainInnovation InitiativeFort Collins, CO
Rocky MountainInnovation Initiative(RMI2), a nonprofitorganization that assistsscientific and technologystartup companies,received more than $2 million in new markets tax credit equityfrom USBCDC to fund a $7.1 million project for the developmentof permanent incubator space. The financing allows the organizationto consolidate its multiple Fort Collins facilities into one space andenable RMI2 to offer below market lease rates in the building, whichis crucial to RMI2’s services, and the companies it assists.
Wright on the ParkMason City, IA
USBCDC provided a total of $5.7 million of historic and newmarkets tax credit equity to help finance the rehabilitation of thethree-story Park Inn Hotel. Designed by Frank Lloyd Wright andcompleted in 1910, the Park Inn Hotel is the last Wright designedhotel in the world of the six for which he was the architect of record.A complete renovation, including restoration of the distinctive brickand terracotta façade, as well as the art glass windows, will restorethe Prairie School-styled building to its original use as a functionalhotel. The project is anticipated to be complete in July 2011, atwhich time the property will operate as a hotel with 27 guestrooms, a restaurant and banquet facility.
The community-sponsored preservation project is expected tocontribute to the overall development of the Mason City CentralBusiness District (CBD) and surrounding community. DowntownMason City has long been the center of retailing, services andculture in Northern Iowa. Upgraded safety and esthetic improvementswill enhance fire protection for the adjacent block of buildings andcreate new growth opportunities for the CBD. Green initiatives, suchas geothermal heating and cooling, storm water management, raingardens and pervious pavement, will all add to the sustainability ofnew streetscaping improvements, as well as reduce operating costsfor businesses. The green focus will provide a new marketing identityfor this critical part of Mason City and has already encouraged newinvestment in the downtown area. In addition, the project will helpto create jobs in the city. It is projected that 27 jobs will be createdand retained in the community through this project.
Coastal Energy ProjectGrayland, WA
USBCDC provided more than $7 millionof new markets and renewable energytax credit equity for the financing of asix megawatt wind farm near Grayland.The $18.8 million project, which wasplaced in service in June 2010, wasdeveloped by Coastal CommunityAction Program (CCAP).
The six megawatt, four turbine system was installed off the coastof Grays Harbor and Pacific Counties in Washington. The systemis estimated to produce 13.5 million kWh of clean energy annually.The project’s electricity revenues will be used to enhance CCAP’sexisting community services.
The CCAP project is a great example of the flexibility of the newmarkets tax credit program. By combining the benefits of bothrenewable energy and new markets tax credit financing, CCAP wasable to expand the definition of community impact. This projectdemonstrates that the development of renewable energy sourceswill, and should be, included in community impact studies acrossthe country.
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C O M M U N I T Y I N V E S T M E N T
Ryan Burke, City of Fort Collins
Lending inOur Communities
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Ten Fifty BSan Diego, CA
U.S. Bank provided a $48.5 million loan tohelp finance the development of Ten Fifty BStreet in downtown San Diego. The LEED®
Gold certified building is 23-stories with229 residential apartment units and 13,450square feet of ground-floor retail space.The project is dedicated to meeting therental housing needs of individuals, familiesand seniors earning 25 to 60 percent of SanDiego County’s median income and is the tallest affordable LEEDGold certified housing tower on the West Coast. Amenities at TenFifty B include multiple tot lots, barbecue and picnic areas, an outdoorfire pit, more than 7,000 square feet of open space, undergroundparking, a computer lab/business center with free Internet and acommunity room. U.S. Bank is also providing a grant to establish acomprehensive and innovative resident service program to provideeconomic opportunity for its low-income tenants. The program willinclude financial fitness programs, computer training, after-schoolhomework club and vocational training. This unique project ishelping to set a new precedent for smart, sustainable growth.
Sheet Metal Workers UnionSt. Louis, MO
U.S. Bank and USBCDC played a pivotal role in ensuring that theSheet Metal Workers Union (SMWU) Local 36 could build theirnew $15 million headquarters in the City of St. Louis. The Junegroundbreaking marked the beginning of the rehabilitation of aformer boiler facility south of downtown that, when completed,will house offices, a training school, meeting hall and a 1,000-seatauditorium for SMWU Local 36. Builders are working to make thefacility LEED Platinum, the highest-rated LEED-certified buildingin Missouri.
Renaissance Uptown LoftsDenver, CO
U.S. Bank and USBCDC provided financing and low-incomehousing tax credit equity for the Colorado Coalition for theHomeless’ new mixed-use, supportive housing development indowntown Denver called Renaissance Uptown Lofts. The five-storybuilding contains a mix of studio, one- and two-bedroom apartmentsalong with retail and community space on the ground level. Thisdevelopment blends supportive housing for families and individualsexperiencing homelessness, with affordable units for workingindividuals who otherwise could not afford a quality dwelling ina desirable location. The coalition also provides job training andemployment opportunities for homeless individuals and residentsof the complex. The Renaissance Uptown Lofts will be built inaccordance with Green Communities criteria.
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65 WestCincinnati, OH
U.S. Bank provided a $12.4 millionconstruction loan to redevelop a3.8 acre site into a gated apartmentcommunity for college students.The complex will feature 138 unitsin five three-story buildings called65 West. The project is locatedadjacent to the University of Cincinnati on vacant land in a low-income census tract which is part of the Clifton Heights/UC JointUrban Renewal Plan. The plan addresses the need for higher densityresidential properties and the need to stabilize that area of the city.The project is slated for completion by late summer 2011 and willbe LEED-certified.
Johnston Center ResidenceMilwaukee, WI
U.S. Bank continues to support the work of Mercy Housing Lakefrontin Milwaukee through loans and tax credit equity. Johnston CenterResidence celebrated the grand opening of their 91-unit apartmentcomplex built on the site of the old Johnston Health Clinic. Theproject was a combination of new construction and units rehabbedfrom the 100-year-old facility. Case workers from Hope House, anonprofit agency specializing in care for the homeless, also provideservices for the residents, including employment training, stressmanagement and cooking classes.
The project ends homelessness for 10 percent of Milwaukee’s chronicallyhomeless individuals. The supportive housing partnership responsiblefor the project, Mercy Housing Lakefront, Hope House, the City ofMilwaukee, Milwaukee County, and WHEDA, has been nominatedfor the Milwaukee Awards for Neighborhood Development — TrailBlazer award.
Rose Street ApartmentsSeattle, WA
U.S. Bank provided $10.2 million in construction and permanentfinancing for the Rose Street Apartments, a new, transit-oriented,low income housing mixed-use tax credit project sponsored byHousing Resources Group (HRG) and located in the Rainier Beachneighborhood of Seattle. The project consists of 71 one- and two-bedroom units plus ground-floor commercial space. Three ofthe 71 units are live/work units and the remaining are available toindividuals and families with incomes at or below 60 percent of areamedian income. The Rainier Beach community is transforming, dueto new light rail service within one mile of the project that runsfrom Seattle Tacoma International Airport to downtown Seattle.Additional financing partners include the City of Seattle, KingCounty, Washington State, the Rainier Valley CommunityDevelopment Fund and the Washington State HousingFinance Commission.
Solstice/ConfluenceMissoula, MT
U.S. Bank provided a $5.6 million construction and permanentfinancing loan to Solstice/Confluence for a multi-family affordablehousing development in Missoula. Solstice is the second phase of anurban redevelopment project that consists of 40 housing units and18,000 square feet of commercial space. The commercial space willprovide a permanent home for homeWORD, a nonprofit committedto providing safe, healthy and affordable housing using sustainablemethods. It also promotes strong communities through housingcounseling and education for those most in need. Solstice is a uniqueproject for Missoula and the state. A first in the state’s history,homeWORD is building the project using low income housing taxcredits for the residential units and new markets tax credits for thecommercial portion. USBCDC was the tax investor for these credits.The project is also targeted for LEED Platinum certification.
Sienna GreenRoseville, MN
U.S. Bank financed $9.5 million and was a tax credit investor forthe acquisition and rehabilitation of Sienna Green, a 120 unit rentalcomplex in Roseville. Located less than one mile outside of the cityof Saint Paul, the development will provide 100 units that arerestricted to families identified as low- and moderate-incomehouseholds with some of the units reserved for people whoexperienced long term homelessness.
This development stands out because of the physical and visualtransformation of the buildings and land, creating an invitingcampus of rain gardens, plantings and walking paths. In addition,the owner, Aeon, worked with the University of Minnesota Centerfor Sustainable Research and the Center for Energy and Environmentto make this a highly energy efficient and water efficient project,installing three white roofs and two black roofs to collect energyimpact information for future developments in northern climates.
C O M M U N I T Y L E N D I N G
EnvironmentalStewardship
Since formally beginning our efforts in early 2008, we have completed
many projects to improve our performance and continue to look for
additional opportunities through 2011 and beyond.
The key aspects of our approach have not changed, and include
these tenets:
LeadershipOur Environmental Stewardship Council, comprised of senior business line managers andmembers of the U.S. Bank Executive Managing Committee, continues to meet regularly tostrategize methods for transforming our environmental stewardship commitments into action.To support these efforts, we have incorporated the use of external tools and resources to assistin bank and business line assessment of risks and opportunities stemming from environmentalissues. Our Board of Directors also receives regular updates informing them of our initiativesand progress and to provide them with an opportunity to give their feedback.
CommitmentBy year’s end 2010, we invested more than $2 billion in environmentally beneficial andprofitable business opportunities, not only doubling our original $1 billion commitment,but attaining it more than five years early.
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At U.S. Bank, we believe we
can have a positive impact on
sustainability by protecting
and conserving our natural
resources through methods
such as:
• Developing less resource-intensive business practices
• Embracing opportunitiesfor financial products andservices that incorporatefeatures or benefits forreduced environmentalimpact
• Investing in environmentallybeneficial, profitablebusiness opportunities
• Engaging and educatingemployees and customers
EngagementWe continue to encourage the engagement ofour employees both at home and work andoffer awards and recognition to employeeswho have implemented creative, impactfulchanges within their business line. Anenhanced online portal provides employeesaccess to information, tools and resourcesto assist them in their efforts. These newcollaboration tools will provide us witheven more opportunities to interactwith employees in regards to ourenvironmental efforts.
OutreachOur environmentalcall to action,Get Green withUS, provides anopportunity to encourage others to join inour efforts. In addition to specific, targetedefforts, U.S. Bank continues to take aleadership role in the financial servicesindustry by actively participating at aleadership level with organizations suchas Environmental Banker’s Associationcoalition, The Solar Energy IndustriesAssociation and the NACHA’sPayItGreen coalition.
ImpactThrough the efforts mentioned here andother initiatives, including the ongoingupgrades of our technology and facilities,we continue to see improvement in ourenergy consumption and resulting carbonemissions. We expect to see a continuingdownward trend in our same-site energyconsumption comparisons, following the5% reduction in 2008 and the 3% reductionin 2009. Our year end results will bepublicly reported in the Carbon DisclosureProject (CDP) in mid-2011. In support ofour ongoing commitment to energyefficiency, we alsobecame anENERGY STAR®
Partner in December.
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E N V I R O N M E N T A L S T E W A R D S H I P
• Improved the timeliness and accuracyof our GHG emissions inventory andreporting system through utilizationof Energy Star® Portfolio Manager.
• Formally committed to installationof an advanced Environmental andEnergy Management (EEM) systemin late 2010 to help identify additionalenergy efficiency opportunities atour owned and operated facilities,to track and measure ourenvironmental initiatives, and toleverage best practices.
• Publicly reported our activities andresults through the 2009 CDP.
• Constructed three new LEED®-certified branches bringing ourtotal to nine.
• Increased the percentage of total paperused with certified and/or recycledfiber content to almost 100%.
• Established 14 additional employeeGreen Teams, bringing our totalnumber to 30.
• Established a strategic supply chainteam to begin review of opportunitiesto integrate environmental performanceinto supply chain management.
• Provided education to the entireU.S. Bank Leadership Team (morethan 5,000 managers) on environmentalstewardship and specifically educatedthe Environmental Stewardship Councilon potential climate change risksand opportunities.
• Partnered with the Ohio Treasurer’soffice to offer EcoLink, a loan productoffering customers a significant ratediscount for energy-efficient upgrades.
• Invested more than $550 millionin LEED-certified commercial realestate loans. To further support ourcommitment to green building, wewill also be piloting an energy updateloan with select commercial realestate customers.
• Provided financing for more than $236million in renewable energy projects,such as solar and wind.
• Launched a green auto loan productfor small businesses, providingdiscounted rates for fuel-efficientvehicle purchases.
• Launched a second Get Green withUS sweepstakes to promote employeeand customer adoption of electronicstatements and bill payments.
• Launched a fully online, andmandatory, performance reviewprocess, saving the paper thatwould have been generated by thefive or more page reviews of morethan 60,000 employees.
• Celebrated Earth Day across the entirecompany through various methodssuch as webinars from environmentaland energy-efficiency experts andparticipation in the Million Trees Project.
• Incorporated environmentalsustainability questions into ouronline grant application to improveour understanding of companysupport of environmental effortsthrough our grant making process.
HIGHLIGHTS OF 2010
Financial Education Reaches Adults andChildren in our NeighborhoodsU.S. Bank offers high quality products and services specificallydesigned to meet the needs of our communities. Because someindividuals still need a little extra help in meeting their financialgoals, we offer a wide range of financial education initiatives tochildren, adults and small businesses. Each year we strive to expandour participation in financial education initiatives for adults andchildren in our communities. In 2010, more than 1,800 bankingseminars were attended by 40,000 people. Topics included consumerand small business education, products and services, home buyingand financial education. From our perspective, teaching childrenabout money and finances is a huge step in ensuring financiallyresponsible and aware adults. To that end, U.S. Bank has fosteredongoing relationships with Junior Achievement (JA) and is anactive participant in the American Bankers Association EducationFoundation’s National Teach Children to Save Day. In 2010,we embarked on some new and innovative financial educationprograms with colleges and universities as well as programsthat take financial education high tech.
Junior AchievementEach year, employees dedicate their time by serving in leadership rolesor participating in local Junior Achievement (JA) initiatives. In 2010,U.S. Bancorp employees participated in more than 550 educational
seminars in elementary, middle and high schools reaching more than12,000 students. In addition to volunteer efforts, the U.S. BancorpFoundation and U.S. Bank Community Affairs provided grantsupport totaling $472,000 to JA chapters across the United States.
Teach Children To SaveThe fourteenth annual Teach Childrento Save Day (TCTS) was a huge success.To mark the 2010 event, more than 900U.S. Bancorp employees made presentationsin schools throughout our market to studentsin kindergarten through 12th grade. By theend of the day, more than 19,000 studentslearned how to make saving money a partof their lifestyle.
Putting a twist on the 2010 TCTS activities, the Cincinnati, OHmarket partnered with leaders from Xavier University’s basketballprogram to provide an innovative presentation of Teach Children toSave Day. The student athletes visited Hays-Porter Elementary Schoolto inspire 200 students from kindergarten through 7th grade tobecome life-long savers. Utilizing the American Bankers AssociationEducation Foundation’s TCTS curriculum, students learned basiccounting skills, why it is important to save money and tips on “savinggreen by going green”. The basketball leaders reminded students thatlearning fundamental monetary skills, and putting them into practiceeveryday, will help them succeed in life.
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FinancialEducation Programs
U.S. Bank EconomicEmpowerment Program
Fullerton, CA
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 aU.S. Bank Economic Empowerment Program.
The creation of the U.S. Bank Economic Empowerment Program,operated through Cal State Fullerton’s Center for EconomicEducation and the Small Business Development Center, will focuson financial literacy training for middle and high school teachers.It will also provide technical assistance and training to help smallbusiness owners secure funding to start or grow their business.Additionally, it will implement financial education workshops andestablish Individual Development Accounts (IDA) for low- tomoderate-income students at Valadez Middle School in Placentia,California. The five-year goal is to save money towards apostsecondary education.
The U.S. Bank Center for EconomicEducation at Dominican UniversityThe mission of Dominican University’s highly successful Center forEconomic Education has been to improve and expand the level ofeconomic education provided to students from kindergarten throughhigh school, to enable them to become effective participants in theeconomy. With a multimillion dollar contribution, U.S. Bank andDominican University look to further expand the scope of its missionto address adult financial literacy in the Chicagoland area.
The newly renamed U.S. Bank Center for Economic Education willfocus on three main programs. The first is a formalized financialeducation training workshop for local elementary, middle andhigh school teachers. Led by economics professors at DominicanUniversity, the goal will be to equip teachers with the skills theyneed to teach financial literacy and economics to their students.The second and third programs involve the creation of innovativeyouth and adult financial education materials and new methods fordelivering financial education. It also provides for the developmentof practical tools for parents in an effort to provide age appropriatefinancial literacy to their children.
U.S. Bank Financial Scholars and EverFiIn May 2010, U.S. Bank established a partnership with EverFi Inc.,a company committed to helping young adults navigate today’sfinancial world by providing an interactive media platform toteach students core concepts of financial literacy. The partnershipestablishes the U.S. Bank Financial Scholars program in 27 highschools in San Diego, the Twin Cities and the San Francisco Bay area.
Using EverFi technology, U.S. Bank Financial Scholars takes studentsages 17 to 22 on web-based tours of topics ranging from the NewYork Stock Exchange, to the pitfalls of bad credit and consumerfraud. Students go through a six hour online training course andreceive a certificate of completion when they pass all of theirmodules. Teachers have administrative control to check on theprogress of their students throughout all six modules. U.S. Bankis also there to assist teachers with accessing additional resourcesand training tools to motivate students to make positivefinancial decisions.
U.S. Bankof Bearvil leBuild-A-Bear Workshop®,the interactive retailer ofcustomized stuffed animals,and U.S. Bank established apartnership in September 2010to increase children’s financialliteracy by introducing thevirtual U.S. Bank of Bearville.This bank was created to engage the young people who logon tobearville.com™ and teach them about the process of saving andbudgeting through interactive games and online activities.
A variety of useful financial and savings tips are provided to citizenswhen they visit U.S. Bank of Bearville, which has similar features toreal life branches. These features include an ATM machine, vault, awelcome desk and teller counter. Citizens of Bearville can “work” asa bank teller to learn money counting skills. Bearville citizens can alsodeposit Bear Bills®, the official currency of Bearville, at the bank andearn interest with a certificate of deposit. Through this simulatedsavings 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, therewere more than 2.7 million visits to the bank and $2.7 billion BearBills invested.
U.S. Bank CreditWellness CenterIn 2010, U.S. Bankintroduced a new resourceon usbank.com that helpsconsumers take control oftheir credit score, so that itcan be an asset at importantmoments throughout theirlives. Visitors to theU.S. Bank Credit Wellness Center will find answers to common questionsabout credit, tools to help them make good decisions about their owncredit and tips on how to protect their credit rating for a lifetime.
The interactive site allows consumers to participate in a number ofcredit education activities. They can slide a bar to better understanda good vs. bad credit score, take an online quiz to test their creditknowledge, watch videos about people in different credit situationsand even use a credit score simulator to see how financial decisionsimpact an individual’s credit score.
F I N A N C I A L E D U C A T I O N
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Serving OurCommunitiesEducation and EmpowermentU.S. Bank is actively engaged at the community level in supportingprograms 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 theworkforce, our focus is to build stronger and healthier communities.
Chicago, IL
Christ the King Jesuit College PreparatorySchool and Cristo Rey Jesuit CollegePrep are Catholic Jesuit secondary schools(grades 9-12) using the Cristo Rey modelto serve young men and women fromChicago’s Austin and Pilsen neighborhoods, respectively, as well asother communities on Chicago’s West Side. Both schools are small,safe and faith-based. Their missions expand on a tradition ofsuccessful education with a new urban idea.
U.S. Bank made a major commitment to support the CorporateWork Study (CWS) program offered at both schools. The programencourages corporate and nonprofit partners to hire Christ the Kingand Cristo Rey students as interns during the school year. U.S. Bankcurrently has thirteen interns who work in various U.S. Bank branchand corporate office locations. The schools are located in two ofChicago’s poorest neighborhoods. These areas have some of thehighest crime and lowest graduation rates in the city. The schoolsprovide a unique opportunity for children from low-incomeneighborhoods to receive a quality education, as well as anopportunity to experience what it’s like to work in a corporate,or nonprofit environment during their high school career.
Omaha, NE
Students at Skinner Magnet Center inOmaha now have real-world bankingexperience added to their math curriculumthrough a student-run bank branch. Thebranch is only open to Skinner Magnetstudents and is made possible througha partnership between Skinner MagnetCenter, the UNO Center for EconomicEducation and U.S. Bank. The student bank is designed to introducethe concept of saving money at an early age, demonstrate that savingmoney will benefit a student’s future and increase parental involvementin children’s lives through financial education and banking activities.
The student branch bank is open once a week for savings depositsonly and staffed by Skinner Magnet Center student tellers, supervisedby U.S. Bancorp employee volunteers. U.S. Bank matches a student’sfirst deposit of up to $5 to help them get started, and offers incentivessuch as piggy banks, key chains, pens and pencils as students reachvarious savings goals. Students maintain their savings accounts forthe duration of their time at Skinner. Upon graduation, participatingstudents are encouraged to open a traditional bank account tocontinue using the savings skills leaned at Skinner.
Pocatello, ID
U.S. Bank sponsored and participated in the 10th Annual Womenand Work Conference presented by the Center for New Directionsand held at Idaho State University. The conference, Opportunitiesin 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 interestedin, nontraditional occupations. It provides an exceptional source ofinformation through workshops, speakers, networking and exposureto local training and education resources.
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Students at work at Bank In School
Homeownership andCommunity Stabil izationU.S. Bank is committed to helping customers avoid foreclosure andremain in their homes. We offer assistance to our customers havingtrouble making monthly payments, as they may qualify for approvedprograms. U.S. Bank Home Mortgage is also participating in theMaking Home Affordable program announced by the U.S. TreasuryDepartment. We fully support efforts to help families lower monthlymortgage payments, to avoid foreclosure and foreclosure scams andremain in their homes.
In an effort to help our borrowers and communities withstandthe housing crisis, U.S. Bank established outreach teams to supportnonprofit partners and public officials with loss mitigation andcommunity stabilization efforts. In 2010, our national loss mitigationteams attended 22 prevention workshops nationwide and outreachedto more than 45,000 borrowers. The main focus of our outreachteams is two fold — to educate homeowners on available programsthat will sustain homeownership and to maintain the integrity oftheir respective communities, by rehabilitating blighted propertiesin collaboration with nonprofit partners.
Chicago, IL
Throughout a three-day period, U.S. Bank partnered with theNorthwest Indiana Reinvestment Alliance (NIRA) and NeighborhoodHousing Services (NHS) of Chicago, to provide loan modificationassistance at two foreclosure prevention workshops. Employees fromthe U.S. Bank Loss Mitigation team were on-site at each event, andmet with more than 60 customers, in an effort to modify their homeloans. In preparation for both workshops, the Loss Mitigation teammailed notices to nearly 4,000 existing customers to ensure that theevents were well-publicized, and that customers were given advancednotice about the workshops. The combined events attracted morethan 600 total attendees from Northwest Indiana, metropolitanChicago and parts of Michigan and Wisconsin. Home mortgageservicers and affordable housing agency representatives were onhand to help homeowners find solutions to the foreclosure crisisthey were facing.
Cincinnati, OH
During the Home Ownership Center of Greater Cincinnati’s BuzzUs Third Annual Foreclosure Phone-a-Thon, 120 U.S. Bancorpemployees answered phones at WCET Channel 48. More than7,000 calls came in this year, and our bankers processed morethan 2,100 applications from homeowners at risk, comparedto 1,340 applications last year. This was another successfulcommunity initiative executed with the help of businesspartners Fannie Mae, Garner & Kerns, Cincinnati StateCollege and Taft Stettinius & Hollister.
Tax AssistanceAt U.S. Bank, we are proud of the support we provide ourcommunities. We are even more proud of our employees whodonate their time and technical talents, providing much neededservices in the communities we serve. Whether it is becoming certifiedto assist with basic tax preparation or counseling for special taxcredit programs, our employees are helping to increase assets forlocal citizens, which in turn, strengthen the local economy.
Twin Cities, MN
In partnership with AccountAbility Minnesota, 25 U.S. Bancorpemployees spent several hours in training and examinations to becomecertified to assist with preparation of state and federal income taxreturns. Upon completion, they each volunteered 40 hours throughouta ten-week period at AccountAbility Minnesota Volunteer IncomeTax Assistance (VITA) sites throughout the Twin Cities. Results wereimpressive, as more than 10,000 low-income tax payers receivedassistance and 21,800 tax returns were prepared, providing $18.8million in state and federal tax refunds.
Clarksville, TN
During February and March 2010, U.S. Bank participated in the localUnited Way’s VITA program. U.S. Bancorp employees volunteered atthe VITA sites to assist individuals by helping them prepare tax forms,open up checking and saving accounts on site, complete direct depositforms, as well as educate the clients on U.S. Bank’s AccelaPay prepaiddebit card. The AccelaPay card is a safe and convenient way to receivetax refunds. This partnership with the United Way helped 1,200clients file their tax returns, of which 413 were able to take advantageof the EITC program.
Supplier Diversity Init iativesU.S. Bank is dedicated to creating an inclusionary procurementbid process. Identifying, developing and building strong businessrelationships with certified minority and women owned enterprises(MWBEs) are paramount to this process. Our Supplier Diversityprograms demonstrate our commitment to the process of promotingbusiness opportunities at the bank for certified MWBEs. Thisincludes identifying opportunities to participate in the competitivebid process on an equal basis with all other bidders and to promotebusiness development of these MWBEs.
Portland, OR
An example of this commitment to supplier diversity was demonstratedin Portland, when U.S. Bank hosted the first Doing Business withU.S. Bank: Supplier Diversity Reception. The purpose of the eventwas to provide an opportunity for MWBEs to network with eachother and with U.S. Bank partners. It also provided useful informationabout registering as a U.S. Bank vendor as well as what U.S. Bank canoffer through its small business banking solutions. Eighty-eight guestsattended the event, and the response was so favorable that similarevents will be planned in other U.S. Bank markets in 2011. The eventhas also created additional opportunities for U.S. Bank to becomeengaged with the local business community.
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C O M M U N I T Y S E R V I C E
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WE PUT OUR MISSION
INTO ACTION EVERY DAY
FOR OUR CUSTOMERS,
COMMUNITIES AND
SHAREHOLDERS.
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 orthird party providers. Deposit Products offered by U.S. Bank N.A. Member FDIC
Insurance and Investment products are:
U.S. Bank and its representatives do not provide tax or legal advice. Individuals should consult their tax and/or legal advisor foradvice concerning their particular situation. U.S. Bancorp, including each of our subsidiaries, is an Equal Opportunity Employerand a Drug-Free Workplace.
NOT A DEPOSIT NOT FDIC INSURED NOT GUARANTEED BY THE BANK
NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY MAY LOSE VALUE
Building communities.Moving forward.2010 CORPORATE CITIZENSHIP REPORT
U.S.Bankisnotresponsibleforanddoesnotguaranteetheproducts,servicesorperformanceofitsaffiliatesorthirdpartyproviders.DepositProductsofferedbyU.S.BankN.A.MemberFDIC
InsuranceandInvestmentproductsare:
U.S.Bankanditsrepresentativesdonotprovidetaxorlegaladvice.Individualsshouldconsulttheirtaxand/orlegaladvisorforadviceconcerningtheirparticularsituation.U.S.Bancorp,includingeachofoursubsidiaries,isanEqualOpportunityEmployerandaDrug-FreeWorkplace.
NOTADEPOSITNOTFDICINSUREDNOTGUARANTEEDBYTHEBANK
NOTINSUREDBYANYFEDERALGOVERNMENTAGENCYMAYLOSEVALUE
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