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U.S. Bank and North Carolina State University Offer Combined Campus ID and Prepaid MasterCard Card, ATMs on Campus

MINNEAPOLIS & RALEIGH, N.C., Apr 18, 2012 (BUSINESS WIRE) --U.S. Bank and North Carolina State University (NC State) have partnered to offer the Wolfpack One Card, a campus identification card that doubles as a prepaid MasterCard(R) card, to the incoming freshman class in June 2012. Current students, faculty and or staff members can upgrade starting in October 2012. As part of the contract, U.S. Bank will also deploy ATMs on campus.

U.S. Bank is a leader in offering multiple banking services to students, faculty and staff on university campuses, including dual-purpose banking and ID cards, but this is the first time that the company has combined the ID with a prepaid card. The card can be used for purchases wherever debit MasterCard cards are accepted.

"Our partnership with NC State offers students and staff of this nationally-recognized university the convenience and security of having a single card that operates as their campus ID and a card they can use to pay for purchases," said Kevin Morrison, senior vice president at U.S. Bank. "With U.S. Bank's prepaid MasterCard functionality, approximately 34,000 students and 8,000 staff members now have the ability to receive a direct deposit from their employer, the financial aid office or their parents and to spend those funds on or off-campus. They also have the benefit of U.S. Bank's online tools so they can easily stay informed and in control of their finances."

The new Wolfpack One Card continues to provide on-campus functionality, including meal plans, the AllCampus debit account and door or parking gate access to name a few.

"This relationship provides a significant upgrade to our existing card program, giving our campus population a convenient card and banking program when combined with MasterCard's worldwide acceptance," said Dr. Dan Adams, associate vice chancellor for campus enterprises at NC State.

The Wolfpack One Card is free for new students and $10 for current students, faculty or staff members who wish to upgrade. The card has no enrollment or monthly fees, and no minimum balance required to keep the account active. U.S. Bank offers email and text alerts to keep cardholders informed about account activity - such as ATM withdrawals, processed deposits or low balances - and access to a secure website (online or via their mobile phone) to view account balances, check transactions and make changes to the account anytime.

Parents, an employer or the university financial aid office can deposit funds electronically, as can any other Wolfpack One Cardholder. (Students electing to receive funds from multiple sources are required to have a Deluxe account, which is free of charge.) Cardholders can withdraw money for free at merchants where debit MasterCard cards are accepted and at the 23,000 U.S. Bank or MoneyPass-branded ATMs.

For more information about the Wolfpack One Card, visit onecard.ncsu.edu, or U.S. Bank Campus Banking, visit usbank.com/campusbanking.

About North Carolina State University
Founded in 1887, North Carolina State University (NC State) is an institution distinguished by its exceptional quality of research, teaching, and public service. It is the largest university in the state, with more than 34,000 students and 8,000 faculty and staff. As a land grant university, NC State is one of two research-extensive institutions in the 17 campus University of North Carolina system. It is classified by the Carnegie Foundation as one of only 31 universities nationwide with both "very high" research activity and notable community engagement. NC State consistently ranks among the nation's top public universities and best higher-education values. Visit NC State on the web at www.ncsu.edu.

About U.S. Bank
U.S. Bancorp (NYSE: USB), with $341 billion in assets as of March 31, 2012, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States. The company operates 3,080 banking offices in 25 states and 5,061 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.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50238285&lang=en

SOURCE: U.S. Bancorp

Teri Charest, U.S. Bank Media Relations
(612) 303-0732, teri.charest@usbank.com
or
Jennifer Holland Gilmore, NC State University
(919) 513-3017, jhgilmor@ncsu.edu

"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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