MINNEAPOLIS, Feb 28, 2003 (BUSINESS WIRE) -- Starting in February, employees of
Freddie Mac began reaching for a U.S. Bank Visa Corporate Card to pay for
business purchases such as business travel, client luncheons or everyday office
That's because U.S. Bank Corporate Payment Systems earned the organization's
corporate card business following a competitive bid process. Freddie Mac leaders
have a strong relationship with leaders at U.S. Bank Home Mortgage, who
successfully connected them with colleagues at U.S. Bank Corporate Payment
Systems, the largest issuer of Visa-branded commercial card programs in the
"This new business arrangement is a 'win-win' for both Freddie Mac and U.S.
Bank," said Paul Peterson, executive vice president at Freddie Mac. "Freddie Mac
has the opportunity to strengthen its relationship with a valued customer and it
gives employees the benefit of carrying a Visa card managed by the number one
corporate credit card issuer in the nation," he said.
"We are excited about the opportunity to provide Freddie Mac travelers with the
U.S. Bank Visa Corporate Card, which is backed by our exclusive Five Star
Service Guarantee. We are also excited about adding Freddie Mac as a customer.
Organizations like Freddie Mac are invaluable partners in our efforts to
constantly improve the value delivered by our payment solutions," said Chris
Pieroth, senior vice president for product and marketing with U.S. Bank
Corporate Payment Systems.
U.S. Bank Corporate Payment Systems offers clients a full suite of solutions for
commercial, fleet and B2B payment needs. U.S. Bank was the first to offer
corporate bankcard, purchasing and relocation card programs, the first to offer
a private-label fleet card and is one of the largest merchant acquirers in the
world. Corporate Payment Systems maintains an enviable list of clients including
nearly half of the Fortune 100 and more than thirty percent of the Fortune 500.
U.S. Bank is part of U.S. Bancorp (NYSE:USB). With assets in excess of $180
billion, U.S. Bancorp is the 8th largest financial services holding company in
the United States. The company operates 2,142 banking offices and 4,604 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. Visit U.S. Bancorp on the web at usbank.com.
CONTACT: U.S. Bank Media Relations
Teri Charest, 612/303-0732
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SOURCE: U.S. Bank