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U.S. Bank Pledges Its Support for Employees Who Serve in the Military

MINNEAPOLIS--(BUSINESS WIRE)--Nov. 12, 2009-- U.S. Bank is pledging its support for its military employees through its participation in the Employer Support of the Guard and Reserve (ESGR) Statement of Support Program. The ESGR, a Department of Defense organization, has created this program to inform and educate employers about their rights and responsibilities toward employees who serve in the National Guard and Reserve, and to recognize and reward employers who go beyond the requirements of the law.

Richard Davis, chairman, president and chief executive officer for U.S. Bank’s parent company, U.S. Bancorp (NYSE:USB), will sign the ESGR statement on Friday, November 13, in the lobby of U.S. Bank’s headquarters building, where he will be joined by Twin Cities-area employees who are past and current members of the military. Representatives from the ESGR will be in attendance as well, including its national chairman, James Rebholz, Minnesota state chair Paul Monteen and Minnesota executive director Jim Sullivan.

By signing the ESGR Statement of Support, U.S. Bank is demonstrating its commitment to employees who serve in the armed forces. The statement is a pledge that the company recognizes and enforces the Uniformed Services Employment and Re-Employment Rights Act, that U.S. Bank managers and supervisors will have the tools they need to effectively manage employees who serve in the Guard and Reserve, and that it will support service members and their families in peace, in crises and in war.

“We truly appreciate the sacrifices made by the hundreds of U.S. Bank employees across the nation who serve our country in the armed forces, and as an employer, it’s important that we clearly articulate our commitment to those employees and their families,” said Davis. “Signing the ESGR Statement of Support is one way we can do that, while also showing our respect and gratitude for all they do to protect our freedoms.”

"Today, supportive employers are critical to maintaining the strength and readiness of the nation's National Guard and Reserve units. I am asking all of America's employers to review and amend their current human resources policies to ensure compliance with the Uniformed Services Employment and Reemployment Rights Act (USERRA)," said Rebholz. "Many employers provide 'Above and Beyond' support with pay differential to offset the loss of wages, and extension of health care benefits, which complement coverage provided by the military, when their employees are mobilized."

In addition to the signing of the ESGR Statement of Support, U.S. Bank has many recognition events planned to honor its military employees in their local markets during the week of Veteran’s Day, and it also provides numerous recognition programs and benefits throughout the year for its employees who have served and currently serve in the armed forces.

For example, Rick Hartnack, U.S. Bancorp’s vice chairman for consumer banking, recently led a group of five U.S. Bank employees who participated in a “Boss Lift” program, also sponsored by ESGR, to Camp Ripley in Minnesota, where they spent the day seeing firsthand what it is like to be a member of the National Guard and Reserve.

U.S. Bank also offers a special checking account program for customers who are veterans or current members of the military.

U.S. Bancorp, with $265 billion in assets, is the parent company of U.S. Bank, the 6th largest commercial bank in the United States. The company operates 2,851 banking offices and 5,175 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
Jennifer Wendt, 612-303-0731
ESGR Public Affairs
Tom Bullock, 800-336-4590, ext. 537

"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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