MINNEAPOLIS--(BUSINESS WIRE)--Apr. 16, 2009--
U.S. Bank has created a new auto loan program that offers a half-percent
rate reduction on loans for vehicles certified by the EPA as
environmentally-friendly “SmartWay” vehicles. It is the first major bank
in the United States to offer this type of loan.
The EPA “SmartWay” designation identifies vehicles that offer low
emissions and good fuel economy. A list of these vehicles can be found
on the EPA's Green Vehicle Guide at epa.gov/greenvehicles.
By offering this discount on SmartWay designated vehicles, U.S. Bank can
reward customers who want to have more positive impact on the
environment but don’t want to restrict their purchase to a hybrid or
alternative fuel vehicle. Approximately 16 percent of all 2009 vehicles
are “SmartWay” and can be identified by the special designation on the
“Including EPA-certified SmartWay vehicles in programs like this is a
great way to lower greenhouse gas emissions," said Margo Oge, director
of EPA’s Office of Transportation and Air Quality. “We applaud companies
that develop initiatives that benefit both the consumer and the
“U.S. Bank had taken great strides in adopting and promoting
environmentally-friendly business practices among its employees and
customers, with everything from encouraging electronic transactions to
finding new ways to support green habits such as offering this discount
on loans for environmentally-friendly vehicles,” said Lisa O’Brien,
director of environmental affairs at U.S. Bank.
To further its commitment to environmentally-friendly business
practices, these loans will be set up on automatic payment from a U.S.
Bank account and no paper statements will be generated. The program is
available on new and used cars (up to six years old).
U.S. Bancorp (NYSE: USB), with $266 billion in assets, is the parent
company of U.S. Bank, the 6th largest commercial bank in the United
States. The company operates 2,791 banking offices and 5,164 ATMs in 24
states, and provides a comprehensive line of banking, brokerage,
insurance, investment, mortgage, trust and payment services products to
consumers, businesses and institutions. Visit U.S. Bancorp on the web at usbank.com.
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Source: U.S. Bank
U.S. Bank Media Relations
Teri Charest, 612-303-0732