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U.S. Bank Offers Prepaid Card Services for the American Red Cross

MINNEAPOLIS--(BUSINESS WIRE)--Apr. 8, 2015-- When disasters strike, the American Red Cross provides food, shelter and comfort in the face of devastation. U.S. Bank will now be part of that vital effort as the American Red Cross’ sole prepaid card provider offering Red Cross staff and clients safe, reliable and immediate access to emergency money with the U.S. Bank Prepaid Debit MasterCard® Disaster Relief Client Assistance and Mission cards.

“We’re proud to expand the strategic relationship between U.S. Bank and the American Red Cross by providing such an essential service,” said Peter Klukken, general manager of U.S. Bank’s Prepaid Card team. “By using prepaid cards, Red Cross workers are able to better serve their clients at the time that matters most with a U.S. Bank prepaid card that is safer than cash, quicker than waiting for a check and can be used everywhere debit MasterCard is accepted in the U.S. and its territories.”

“Our prepaid card conversion to U.S. Bank will enable the American Red Cross to leverage technology in new ways,” said Steve Casey, corporate treasurer of the American Red Cross. “Most importantly, this new card technology will help the Red Cross deliver its mission more efficiently in communities across the country.”

American Red Cross employees and their clients won’t incur fees for using the cards, and American Red Cross management will have instant and easy access to reports showing card loads along with a robust inventory tracking system that allows them to track all card inventories across the country.

“Prepaid cards offer tremendous benefits that will give the American Red Cross more time to focus on caring for people in need while spending less time managing finances,” Klukken said.

Benefits for the cards include:

  • Free cash withdrawals from over 24,000 U.S. Bank and MoneyPass ATMs.
  • Free point-of-sale purchases wherever MasterCard debit is accepted in the U.S. and its territories.
  • Free customer service, including live customer service agents.
  • Free online account access.
  • No monthly maintenance or overdraft fees (customers can’t use the card if funds are not available).

U.S. Bank is an official partner of the American Red Cross National Disaster Responder Program. In addition to the new prepaid card service, the partnership includes:

  • Annual support up to $250,000 from U.S. Bank.
  • An employee donation portal for easier giving.
  • Employee donation matching program.
  • Special donation screens on U.S. Bank ATMs, which can be activated nationally or regionally as needs arise, to allow customers to contribute quickly and directly to local Red Cross emergency relief efforts.

About U.S. Bank:
Minneapolis-based U.S. Bancorp, with $403 billion in assets as of December 31, 2014, is the parent company of U.S. Bank National Association, the 5th largest commercial bank in the United States. The company operates 3,176 banking offices in 25 states and 5,022 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services to consumers, businesses and institutions. Visit U.S. Bancorp at usbank.com

Source: U.S. Bank

Lori Swarthout, U.S. Bank Public Relations
414-765-6668, lori.swarthout@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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