U.S. Bancorp Named a Yellow Ribbon Company in Minnesota

Published on Thursday, 26 January 2012 13:29 Written by TradersHuddle Staff

MINNEAPOLIS-( Business Wire )-

State of Minnesota officials have declared Minneapolis-based U.S. Bancorp a “Yellow Ribbon Company,” recognizing the bank’s programs and support for employees who serve in the military themselves or have family serving.

The Yellow Ribbon Recognition Program pays tribute to companies that put into place policies, procedures and public works that proactively support military employees and their families. Minnesota Secretary of State Mark Ritchie and Assistant Adjutant General Worthe Holt presented U.S. Bancorp chairman, president and CEO Richard Davis with a proclamation, signed by Governor Mark Dayton, naming U.S. Bank a Yellow Ribbon Company, during U.S. Bancorp’s annual employee meeting at the Target Center in downtown Minneapolis.

“Thanks to U.S. Bank, military members can serve our country with the peace of mind that they have the full support of their employer,” Secretary of State Mark Ritchie said. “This company’s commitment and support of active and former members of the military as well as their families is an example for all to follow.”

U.S. Bancorp is consistently recognized for its support of military service members and their families. In 2011, G.I. Jobs magazine named U.S. Bank one of the nation's Top 100 Military Friendly Employers(R). Military Times magazine named U.S. Bank as one of just 46 companies in their Best of Vets 2011 annual survey. More than 1,000 firms were surveyed for their recruiting, policies for reservists and overall corporate culture pertaining to the military.

“Supporting our military employees and their families is the not only the right thing to do, it makes our community and business stronger,” CEO Richard Davis said. “We celebrate being a Yellow Ribbon Company. It’s one of the highest honors we’ve received.”

U.S. Bancorp started its Military Initiative in 2008 under the direction of Davis and vice chairs Richard Hartnack and Richard Payne, who are both veterans. As of October, the company employed more than 1,600 veterans and/or members of the guard/reserve - more than 200 of which were hired in 2011 alone.

Beginning in January, U.S. Bank began offering employees up to two weeks paid leave to cover time they would otherwise take off unpaid, per state or federal law, in connection with a family member's military service. Depending on state laws, the time can be taken not only with the deployment of a child, parent or spouse, but may be available to extended family as well.

The bank also announced plans to double the number of veterans and/or members of the National Guard and Reserves hired in 2012. To aid in that effort, U.S. Bancorp launched a military-specific recruiting website, http://proudtoserve.usbank.com, that will assist service members identify areas at U.S. Bank where their skills and interests might be a match. In addition, U.S. Bank has launched a Leadership Development Program in two of its consumer banking markets that recruits transitioning officers into a branch management training program.

About U.S. Bank

U.S. Bancorp (NYSE: USB), with $340 billion in assets as of Dec. 31, 2011, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States. The company operates 3,085 banking offices in 25 states and 5,053 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp and its employees are dedicated to improving the communities they serve, for which the company earned the 2011 Spirit of America Award, the highest honor bestowed on a company by United Way. Visit U.S. Bancorp on the web at www.usbank.com.

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