MINNEAPOLIS & MESA, Ariz., Dec 10, 2002 (BUSINESS WIRE) -- U.S. Bank
(NYSE:USB), through its recreation finance division, has partnered with Redex,
the world's largest recreation vehicle (RV) dealer buying group, to offer
special financing available to the 84 dealers that participate in Redex. The
agreement offers Redex dealers a custom, indirect lending program that makes
what they offer consumers more affordable and convenient.
"Of the many national and regional banks, Redex has endorsed only two financial
institutions for retail financing programs. We are proud to have U.S. Bank as
one of our two preferred lenders. The rates are great. So are the people and the
service. We're honored to have U.S. Bank as one of our preferred partners," said
Paul Skogebo, president of Redex and Robert Crist and Company RV in Mesa, Ariz.
"U.S. Bank is continually looking for ways to make owning an RV affordable to
more consumers, in this case by providing indirect financing that dealers can
then pass on to their customers," said Jere Gilbert, regional sales and
marketing manager of recreation finance at U.S. Bank. "Offering creative
solutions is just one example of how we stand behind our exclusive Five Star
Service Guarantee, delivering the highest level of service that any financial
institution could possibly provide to the RV industry. More than anything, we're
committed to providing the best people, the best attitudes and the best service,
or we'll credit their account."
The Redex buying group, which formed in 1996, is a coalition of RV dealers that
account for more than $1.6 billion in total RV retail sales, which is
approximately 18 percent of the total RV retail business. The size of the group
gives Redex members buying power that is unmatched by individual businesses
trying to negotiate their own terms for products and services. In turn, Redex
members pass savings on to their customers. Redex dealers are located nationwide
from Alaska to Maine to Florida to southern California.
U.S. Bancorp, with assets in excess of $174 billion, is the 8th largest
financial services holding company in the United States. The company operates
2,133 banking offices and 4,680 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 is home of the
Five Star Service Guarantee which assures customers of certain key banking
benefits and services or customers will be paid for their inconvenience. U.S.
Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on the web at
CONTACT: U.S. Bank
Teri Charest, 612/303-0732
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SOURCE: U.S. Bank