MINNEAPOLIS & CINCINNATI, Oct 25, 2010 (BUSINESS WIRE) --
U.S. Bank, lead bank of U.S. Bancorp (NYSE: USB) and The Kroger Co.
(NYSE: KR) today announced that U.S. Bank will issue credit cards and
reloadable prepaid debit cards with rewards to help Kroger customers
save money on groceries and fuel.
Customers who shop at Kroger's family of stores - including Ralphs, Fred
Meyer, Fry's, King Soopers, Dillons, QFC and City Market - will earn
free groceries and fuel discounts with every purchase when they use
their 1-2-3 REWARDS(R) MasterCard(R), Fred Meyer Rewards(R) MasterCard(R),
Ralphs rewards plus MasterCard(R), or Visa(R) prepaid debit card with 1-2-3
REWARDS(R) from U.S. Bank. Offering this suite of Rewards cards is the
next step in a long-standing strategic alliance between U.S. Bank and
Beginning Nov. 8, existing cardholders' accounts will transfer to U.S.
Bank, which gives Kroger customers access to new benefits like mobile
banking and 24-hour customer service.
"This is an exciting milestone for U.S. Bank, and we're confident the
card program will offer Kroger's loyal customers more value by rewarding
them every time they shop - whether it's inside one of their nearly
2,500 supermarkets or for everyday purchases," said Cliff Cook, chief
marketing officer for U.S. Bank Retail Payment Solutions.
Cardholders who make purchases using their rewards card automatically
earn points toward reward certificates for free groceries. Every dollar
spent earns rewards points, with double points earned for purchases made
in Kroger's family of stores and triple points for buying store-brand
products. Additionally, cardholders may earn an extra
five-cents-per-gallon discount on fuel purchases at participating
Kroger-operated fuel centers.
"Kroger is thrilled to partner with U.S. Bank to offer an exciting suite
of rewards cards that help Kroger customers to earn free groceries and
fuel discounts," said Kathy Kelly, president of Kroger Personal Finance.
"U.S. Bank shares our commitment to listening to customers and offering
the right financial products that reward them for their loyalty."
for more details about the entire suite of cards.
U.S. Bank's extensive financial services relationship with Kroger, the
nation's largest traditional grocery retailer, began in 1930. U.S. Bank
currently provides a number of retail, corporate banking, trust, capital
markets and credit services for Kroger. Kroger has nearly 2,500
locations operating under several brand names and U.S. Bank operates
bank branches in 191 of those locations through an in-store banking
About Kroger Personal Finance
Kroger Personal Finance(R) (KPF) offers customers convenient, affordable
personal finance products and services from preferred providers. These
include credit cards, gift and prepaid cards, insurance, ID theft
protection and in-store money services such as check cashing,
Coinstar(R) and Western Union(R). Information on KPF products and
services is available in the nearly 2,500 stores Kroger operates under
two dozen local banner names including Kroger, Ralphs, Fred Meyer,
Fry's, King Soopers, Smith's, Dillons, QFC and City Market. For more
information about Kroger Personal Finance, visit www.krogerpersonalfinance.com.
Kroger, the nation's largest traditional grocery retailer, employs more
than 334,000 associates who serve customers in 2,468 supermarkets and
multi-department stores in 31 states under two dozen local banner names
including Kroger, City Market, Dillons, Jay C, Food 4 Less, Fred Meyer,
Fry's, King Soopers, QFC, Ralphs and Smith's. The company also operates
777 convenience stores, 374 fine jewelry stores, 893 supermarket fuel
centers and 40 food processing plants in the United States. Kroger,
headquartered in Cincinnati, focuses its charitable efforts on
supporting hunger relief, health and wellness initiatives, and local
organizations in the communities it serves. For more information about
Kroger, please visit www.kroger.com.
About U.S. Bancorp
U.S. Bancorp, with $291 billion in assets as of Sept. 30, 2010, is the
parent company of U.S. Bank, the fifth-largest commercial bank in the
United States. The company operates 3,013 banking offices in 24 states
and 5,323 ATMs 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 www.usbank.com.
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SOURCE: U.S. Bank and The Kroger Co.
Teri Charest, Media Relations, 612-303-0732
Denise Osterhues, Media Relations, 513-762-1304