MINNEAPOLIS, Nov 08, 2011 (BUSINESS WIRE) --
The U.S. Department of Energy's National Nuclear Security Administration
(NNSA) has signed a letter of intent to implement U.S. Bank
Transportation Solutions for billing and payment of freight shipments.
"We welcome NNSA to the growing group of federal agencies choosing U.S.
Bank's freight payment network to cut costs, enhance efficiency and save
taxpayer dollars," said Doug Ichiuji, senior vice president, U.S. Bank
Government Services. "The list already includes the Departments of
Defense, State, Homeland Security, and Health and Human Services. We
continue to transform payment processing with the most effective
collaboration, financial supply chain visibility and business
intelligence tools available."
Last year, the Defense Department alone processed freight payments of
$3.5 billion and household goods payments of $2 billion through U.S.
Bank Transportation Solutions. The resultant savings to U.S. taxpayers
rose into the millions.
"Beyond innovative products and superior customer service, U.S. Bank
provides a strong and reliable financial partner," Ichiuji added. "Our
financial performance remains among the best in the industry. It comes
from a disciplined approach to credit and risk management and continued
investment in products and services that meet the needs of our
U.S. Bancorp (NYSE: USB), with $330 billion in assets as of Sept. 30,
2011, is the parent company of U.S. Bank, the fifth-largest commercial
bank in the United States. The company operates 3,089 banking offices in
25 states and 5,092 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
SOURCE: U.S. Bank
Teri Charest, Media Relations, 612-303-0732