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U.S Bank Introduces Community Card for Tax-Exempt Organizations

Organizations get online tools to manage expenses, can earn cash rewards

MINNEAPOLIS--(BUSINESS WIRE)--Dec. 5, 2013-- Non-profit organizations and small municipalities can now apply for a U.S. Bank credit card with fewer fees, a powerful online expense-management tool and other features crafted to their unique needs.

The U.S. Bank Visa® Community Credit Card has no annual fees, no late fees and no over-limit fees and is now offered in all U.S. Bank branches.

“The U.S. Bank Community Card is designed for non-profit organizations and municipalities where usual credit-underwriting standards sometimes aren’t appropriate,” said Cathi Stanton, senior vice president for U.S. Bank Retail Payment Solutions. “For instance, instead of assigning liability to board members – which can be a tough ask for non-profits – the liability is held by the organization.”

Other features include:

  • All accounts receive consolidated central billing statements – making it easy for organizations to track expenses.
  • Domestic, dedicated cardmember service available 24 hours a day, 7 days a week.
  • Free online management reporting with ScoreBoard (www.usbank.com/scoreboard).
  • Optional, free rewards program: 1% cash back on all net purchases. A non-reward option is also available.
  • Underwritten on the financial strength of the organization, no guarantor required.
  • Line size based on the financial strength of the organization.

Examples of non-profits that can benefit include: religious organizations; cultural groups; foundations; social services; educational institutions; and other tax-exempt institutions. Municipal organizations that may qualify include: local, state, federal entities; schools; city or county offices; fire, police, and sheriff departments; and public housing administrations.

“U.S. Bank’s free ScoreBoard tool lets tax-exempt organizations see, compare and control expenses more efficiently, giving staff more time to focus on the organization’s mission and needs,” Stanton said. “We’re delighted to offer a high-value product for our communities.”

The U.S. Bank Visa Community Credit Card is now available at all U.S. Bank branches.

In October, U.S. Bank introduced another new specialty credit card: the U.S. Bank Visa Signature® Company credit card. Designed for companies with $1 million to $10 million in annual revenues, it offers unique advantages for businesses such as no personal guarantor and cash-back rewards.

About U.S. Bank
Minneapolis-based U.S. Bancorp (NYSE: USB), with $361 billion in assets as of Sept. 30, 2013, is the parent company of U.S. Bank, the 5th largest commercial bank in the United States. The company operates 3,088 banking offices in 25 states and 4,937 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 usbank.com.

Source: U.S. Bank

U.S. Bank
Teri Charest, 612-303-0732
U.S. Bank Public Relations
teri.charest@usbank.com

"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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