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U.S. Bank Back-to-School Survey: Kids Are Saving for College and a Car

MINNEAPOLIS--(BUSINESS WIRE)--Oct. 5, 2009-- Kids today are saving for college and a car, says U.S. Bank (NYSE: USB), which recently surveyed 1,500 of its customers between ages 5 to 12. The state of the economy has not been lost on its young savers, who are setting goals and socking away windfalls from birthdays and earnings from babysitting or other duties.

By the end of October, 100 of those U.S. Bank savers will be on their way to achieving their goal, as each will receive $100 from U.S. Bank by participating in its “What are Kids Savings For?” contest.

U.S. Bank launched the program to make a lasting impression on its youngest customers, and has been featuring some of their responses on the bank’s website, www.usbank.com/whatarekidssavingfor. U.S. Bank tallied all its young saver responses for this current top 10 list:

1) College (30%)

2) Car (15%)

3) Pet (10%)

4) Trip (9%)

5) Video Game System (8%)

6) Helping Others (7%)

7) IPod (6%)

8) Laptop (5%)

9) Musical Instrument (4%)

10) Cell Phone (3%) or Other (3%)

How do these young depositors plan to reach their goal? Doing extra chores, collecting change and babysitting were listed most often.

Children ages five to twelve years old are still eligible to participate. Entry forms are available at any U.S. Bank branch through the end of October, and 100 winners will be selected through an online employee poll. U.S. Bank has a long history of encouraging saving at all ages, and hundreds of its employees visit local classrooms to teach kids how they can make saving part of their everyday lives.

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 2,850 banking offices and 5,173 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.

Source: U.S. Bank

U.S. Bank Media Relations
Lisa H. Clark, 608-877-7517
lisa.clark2@usbank.com

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.



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