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U.S. Bank and Auto Club Trust FSB Partner to Launch Credit Card Rewards Program Featuring the AAA Dollars® Plus MasterCard® and AAA Dollars® MasterCard®

MINNEAPOLIS (October 5, 2015) – U.S. Bank and Auto Club Trust FSB (ACT), a subsidiary of The Auto Club Group (ACG), which provides a broad range of products to its more than 9 million AAA members, have formed a new, long-term card-issuing alliance. The alliance has created two new MasterCard co-branded credit cards offering ACG members the opportunity to earn valuable rewards on their everyday purchases and to use their cards with the latest digital wallet technologies.

“U.S. Bank's unique relationship with ACT and MasterCard creates a dynamic alliance that extends valuable membership rewards benefits to ACG members. Whether earning AAA Dollars to purchase AAA travel and services or choosing the cash back option - the credit card rewards program offers flexibility that cardholders appreciate," said Robert Goeller, senior vice president, Co-brand Partnerships at U.S. Bank.

In connection with the new ACT program, U.S. Bank has also entered into an agreement to purchase the existing $500 million-plus ACG credit card portfolio at the end of the third quarter. Terms of the agreement were not disclosed.

The AAA Dollars Plus MasterCard is for AAA members of ACG who love to earn rewards.

  • Cardholders can earn 3 percent on qualifying net AAA purchases and travel1, 2 percent on qualifying net gas, grocery and drug store purchases2, and 1 percent on qualifying net purchases everywhere else2.
  • The card has no annual fee*, and no foreign transaction fees* will be charged on purchases abroad.

The AAA Dollars MasterCard is for members who prefer a credit card with a competitive APR.

  • This attractively priced card currently offers a low introductory APR, while having a competitive go-to rate.
  • The cardholder earns 1 percent rewards on all qualifying net purchases2.
  • The card has no annual fee*.

“We at Auto Club Trust are very excited about our new credit card relationship with U.S. Bank,” said ACT Chief Executive Officer Tom Ferries. “We believe this partnership will be mutually beneficial to ACT, U.S. Bank and most importantly our AAA members who will be better served with best in class credit card products and services.”

AAA members of ACG can learn more about and apply for the AAA Dollars Plus and AAA Dollars MasterCard products at www.aaa.com/creditcard or by visiting their local AAA branch office. Full terms and conditions apply.

About U.S. Bank
Minneapolis-based U.S. Bancorp (NYSE: USB), with $419 billion in assets as of June 30, 2015, is the parent company of U.S. Bank National Association, the fifth largest commercial bank in the United States. The Company operates 3,164 banking offices in 25 states and 5,020 ATMs and provides a comprehensive line of banking, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.

About Auto Club Trust FSB
ACT is a federally chartered savings association headquartered in Dearborn, Michigan, with branch offices in Omaha, Nebraska and Dearborn.  It is a subsidiary of The Auto Club Group ("ACG") and its property-casualty insurance affiliate, Auto Club Insurance Association. ACG is the second largest AAA club in North America. ACG and its affiliates provide membership, travel, insurance and financial services offerings to more than 9 million members across eleven states and two U.S. territories including Florida, Georgia, Iowa, Michigan, Nebraska, North Dakota, Tennessee, Wisconsin, Puerto Rico and the U.S. Virgin Islands; most of Illinois and Minnesota; and a portion of Indiana. ACG belongs to the national AAA federation with more than 55 million members in the United States and Canada and whose mission includes protecting and advancing freedom of mobility and improving traffic safety.

# # #
1 Earn 3% per dollar for qualifying Net Purchases (purchases minus credits and returns) made with the card through any participating AAA Club when AAA is the merchant of record, or at eligible retail travel merchants. AAA Clubs located in Northern California, Nevada and Utah are not participating AAA Clubs and purchases made at those clubs will not qualify for 3%. Insurance purchases made through any AAA Club or Club-affiliated insurance agency for policies which are not underwritten by an insurance company owned by or affiliated with any AAA Club will not earn 3%. ACG Card Services cannot control how merchants choose to classify their business and reserves the right to determine which purchases qualify.

2 Account must be in good standing to earn AAA Dollars. AAA Dollars are not earned on business related transactions or activities. AAA Dollars are earned on qualifying net purchases (purchases minus credits and returns). ACG Card Services cannot control how merchants choose to classify their business and reserves the right to determine which purchases qualify.

* The APR may vary and as of 10-1-15, the undiscounted variable APR for Purchases and Balance Transfers is 13.99% - 23.99% (based on your creditworthiness) for the AAA Dollars Plus MasterCard and 12.99%, 17.99% or 23.99% (based on your creditworthiness) for the AAA Dollars MasterCard. The variable APR for Cash Advances is 25.99%. Cash Advance fee: 5% of each advance amount, $10 minimum. Convenience Check fee: 3% of each check amount, $10 minimum. Cash Equivalent fee: 5% of each cash amount, $10 minimum. Balance Transfer fee: 3% of each transfer amount, $10 minimum. There is a $2 minimum interest charge where interest is due. There is no annual fee. Foreign Transaction Fee: There is no foreign transaction fee for the AAA Dollars Plus MasterCard. The Foreign Transaction Fee for the AAA Dollars MasterCard: 2% of each foreign purchase transaction or foreign ATM advance transaction in U.S. Dollars. 2% of each foreign purchase transaction or foreign ATM advance transaction in a Foreign Currency. We may change APRs, fees, and other Account terms in the future based on your experience with ACG Card Services and its affiliates as provided under the Cardmember Agreement and applicable law.

The creditor and issuer of the AAA Dollars Plus MasterCard and AAA Dollars MasterCard is U.S. Bank NA dba ACG Card Services, pursuant to a license from MasterCard International Incorporated. MasterCard is a registered trademark of MasterCard International Incorporated.

"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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