MINNEAPOLIS, Jan 6, 2004 (BUSINESS WIRE) -- U.S. Bancorp (NYSE:USB)
The Financial Careers Institute Project, which includes a new two-year associate
degree program at Minneapolis Community and Technical College, officially
launches its first class "Principles of Banking and Finance" for U.S. Bancorp
employees on Tuesday, Jan. 13. This new banking and finance concentration within
the business management degree includes coursework to reflect the skills needed
to be successful in multi-ethnic banking and finance settings.
The course will take place Tuesday evenings; the spring term ends in May.
"Principles of Banking and Finance will provide students with an overview of the
financial services industry," said Kurt Treu, senior vice president and regional
manager for U.S. Bank. "Basic banking principles including the evolution of
banking, banking legislation, bank compliance issues, monetary policy, deposit
operations, lending functions, and electronic financial services will be
covered. Students will also learn the fundamentals of finance as it relates to
banking by exploring funds management, bank investments, and calculating and
measuring financial performance."
The degree program for multilingual banking and finance employees will help
students serve as liaisons within their own communities, working with individual
immigrants and other targeted audiences to provide an understanding of banking
and personal investment strategies. The project aims to serve immigrants,
persons of color, as well as the economically challenged who live and work in
the metro area. The Financial Careers Institute offers an opportunity for
targeted populations who are interested in banking and finance to reach their
goals, and to serve the needs of the community.
The degree program was made possible through a partnership between U.S. Bancorp
and Minneapolis Community and Technical College. The Financial Careers Institute
received $600,000 in grant funds from the Minnesota Job Skills Partnership
(MJSP), a program within the Minnesota Department of Employment and Economic
Development (DEED). U.S. Bancorp matched the grant with $600,000 in on-site
training and educational resources. The college is working closely with a
multi-ethnic taskforce and selected U.S. Bancorp leaders to develop a series of
training programs and continuing development of the new degree program. Other
newly developed courses will be offered in the fall of 2004.
The program will create a clear educational ladder that allows individuals to
move from short-term training for entry level positions into the new degree
program offered by the college, which may then transfer into a bachelor's or
master's degree program at Metropolitan State University.
Recognizing some of the challenges students who pursue this degree may face,
such as finding good child care, efficient transportation, financial support and
encouragement, Project for Pride in Living and Goodwill/Easter Seals will work
closely with learners to provide a community support system and long-term job
retention services.
Minnesota Governor Tim Pawlenty, along with U.S. Bancorp Vice Chairman, Richard
Davis and Minneapolis Community and Technical College President, Phillip Davis,
announced this initiative earlier in May of 2003.
About Minneapolis Community and Technical College
Minneapolis Community and Technical College provides a comprehensive offering of
transfer and occupational programs as well as continuing education
opportunities. The college is committed to meeting the educational needs of
students by serving a diverse, multicultural community and preparing students to
live and work in a democratic society within a changing global community. The
college enrolls over 11,000 students annually.
About MJSP
Minnesota Job Skills Partnership offers technical, financial and job training
assistance to thousands of businesses, communities, educational institutions and
workers. The Job Skills Partnership Board brings businesses with specific
education needs together with educational institutions to design training
programs to meet those needs.
About U.S. Bancorp
U.S. Bancorp is the parent company of U.S. Bank. U.S. Bancorp (NYSE:USB), with
assets of $189 billion, is the 8th largest financial services holding company in
the United States. The company operates 2,201 banking offices and 4,506 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
www.usbank.com.
SOURCE: U.S. Bancorp
CONTACT: Amy Frantti, U.S. Bancorp, 612-303-0733
Steve Dale, U.S. Bancorp, 612-303-0784
Jill Gebhardt, MCTC, 612-659-6221
Carol Walsh, DEED, 651-296-4236
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SOURCE: U.S. Bancorp
