MINNEAPOLIS--(BUSINESS WIRE)--July 15, 2004--U.S. Bank Corporate
Payment Systems recently won the bid to provide purchasing card
services to the University of California (UC) School System for the
next five years. UC is one of the nation's largest school systems with
a $14 billion dollar annual budget and had a purchasing volume of more
than $180 million in fiscal year 2002. With this contract, U.S. Bank
will issue 3,000 cards to UC employees.
"This is an exciting win for us because we were bidding against an
incumbent provider with a 10-year history," said Robert Abele,
president of U.S. Bank Corporate Payment Systems. "UC made it clear
from the outset that they were looking for innovations available in
the market, so this win certainly validates our direction."
UC encompasses more than 600,000 students and 150,000 employees
across 10 campuses, five medical schools and hospitals, remote offices
associated with each campus, three law schools and a statewide
Division of Agriculture and Natural Resources. UC also manages three
prominent U.S. Department of Energy research laboratories: Los Alamos,
Lawrence Livermore and Lawrence Berkeley.
"The U.S. Bank platform and capabilities were deemed the best fit
for the University of California's existing program," said Haggai
Hisgilov, the UCLA Director of Strategic Sourcing, who led the
university's selection team. "U.S. Bank seemed to be the provider most
able to partner with the university to accommodate our anticipated
future needs. We expect dramatic growth in our card usage over the
next five years."
"It's important to remember that this is an existing program with
tremendous growth potential and we hit the ground running," Abele
added. "We will not have to introduce UC to the basics of a program
and can instead focus on leveraging efficiencies and developing
appropriate strategies for maximizing the school system's
The relationship signals continued growth by U.S. Bank in
California. The company recently moved its southern California
headquarters to the highly visible U.S. Bank Tower, formerly Library
Tower, in downtown Los Angeles. The number of U.S. Bank branches has
nearly tripled from 90 branches in 1999 to more than 260 convenient
locations today. The expansion continues as U.S. Bank branches open in
Safeway, Vons and Pavilions stores throughout California. U.S. Bank
sponsors organizations including the Los Angeles Dodgers and in 2004
made its introductory appearance in the Tournament of Roses Parade.
U.S. Bank Corporate Payment Systems offers clients a full suite of
solutions for commercial card, fleet and business-to-business (B2B)
payment needs. U.S. Bank was the first to offer corporate bankcard,
purchasing card and relocation card programs. It was also the first to
offer a private-label fleet card, and is one of the largest merchant
acquirers in the world. Its clients include nearly one-third of the
Fortune 100 and one-half of the Fortune 500 companies.
U.S. Bank is a subsidiary of U.S. Bancorp (NYSE: USB). With assets
of $192 billion, U.S. Bancorp is the 6th largest financial services
holding company in the United States. The company operates 2,275
banking offices and 4,472 ATMs in 24 states 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.
CONTACT: U.S. Bancorp Media Relations
Teri Charest, 612-303-0732
Dan Endy, 612-973-6901
SOURCE: U.S. Bancorp