Honor Recognizes the Bank for its Commitment to
Military Employees, Veterans and Their Families
MINNEAPOLIS--(BUSINESS WIRE)--Jan. 26, 2012--
State of Minnesota officials have declared Minneapolis-based U.S.
Bancorp a “Yellow Ribbon Company,” recognizing the bank’s programs and
support for employees who serve in the military themselves or have
The Yellow Ribbon Recognition Program pays tribute to companies that put
into place policies, procedures and public works that proactively
support military employees and their families. Minnesota Secretary of
State Mark Ritchie and Assistant Adjutant General Worthe Holt presented
U.S. Bancorp chairman, president and CEO Richard Davis with a
proclamation, signed by Governor Mark Dayton, naming U.S. Bank a Yellow
Ribbon Company, during U.S. Bancorp’s annual employee meeting at the
Target Center in downtown Minneapolis.
“Thanks to U.S. Bank, military members can serve our country with the
peace of mind that they have the full support of their employer,”
Secretary of State Mark Ritchie said. “This company’s commitment and
support of active and former members of the military as well as their
families is an example for all to follow.”
U.S. Bancorp is consistently recognized for its support of military
service members and their families. In 2011, G.I. Jobs magazine
named U.S. Bank one of the nation's Top 100 Military Friendly
Employers(R). Military Times magazine named U.S. Bank as one of
just 46 companies in their Best of Vets 2011 annual survey. More than
1,000 firms were surveyed for their recruiting, policies for reservists
and overall corporate culture pertaining to the military.
“Supporting our military employees and their families is the not only
the right thing to do, it makes our community and business stronger,”
CEO Richard Davis said. “We celebrate being a Yellow Ribbon Company.
It’s one of the highest honors we’ve received.”
U.S. Bancorp started its Military Initiative in 2008 under the direction
of Davis and vice chairs Richard Hartnack and Richard Payne, who are
both veterans. As of October, the company employed more than 1,600
veterans and/or members of the guard/reserve - more than 200 of which
were hired in 2011 alone.
Beginning in January, U.S. Bank began offering employees up to two weeks
paid leave to cover time they would otherwise take off unpaid, per state
or federal law, in connection with a family member's military service.
Depending on state laws, the time can be taken not only with the
deployment of a child, parent or spouse, but may be available to
extended family as well.
The bank also announced plans to double the number of veterans and/or
members of the National Guard and Reserves hired in 2012. To aid in that
effort, U.S. Bancorp launched a military-specific recruiting website, http://proudtoserve.usbank.com,
that will assist service members identify areas at U.S. Bank where their
skills and interests might be a match. In addition, U.S. Bank has
launched a Leadership Development Program in two of its consumer banking
markets that recruits transitioning officers into a branch management
About U.S. Bank
U.S. Bancorp (NYSE: USB), with $340 billion
in assets as of Dec. 31, 2011, is the parent company of U.S. Bank, the
fifth-largest commercial bank in the United States. The company operates
3,085 banking offices in 25 states and 5,053 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 at www.usbank.com.
Source: U.S. Bancorp
U.S. Bank Public Relations