MINNEAPOLIS--(BUSINESS WIRE)--Nov. 1, 2004--U.S. Bank Home
Mortgage and Allegacy Federal Credit Union have announced a new
relationship to provide mortgage services to Allegacy's 94,000
Allegacy, one of the largest credit unions in the nation, is a
leader in mortgage and relocation services. Their growth has required
additional capacity, as well as nationwide mortgage fulfillment. U.S.
Bank Home Mortgage was a natural choice for the expansion as the
company is a leader in mortgage outsourcing and the company has an
established relocation lending department.
"We selected U.S. Bank Home Mortgage because they share our
member-centric focus. They also offer programs that solve additional
needs, such as their unique portfolio retention program," said Patsy
Payne, vice president of mortgage operations at Allegacy.
Tom Handler, vice president of U.S. Bank Home Mortgage, said the
relationship with Allegacy is mutually beneficial. "Allegacy's needs
and culture fit perfectly with that of U.S. Bank Home Mortgage, which
is why we are thrilled to serve their needs."
For more information about mortgage services for credit unions
Allegacy Federal Credit Union is a $1 billion credit union that
serves 94,000 members throughout the world. U.S. Bank provides
outsourcing services to more than 1,100 credit unions.
U.S. Bancorp (NYSE:USB), with $193 billion in assets, is the 6th
largest financial services holding company in the United States. The
company operates 2,346 banking offices and 4,621 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 in which the company pays customers if
certain key banking benefits and services are not met. U.S. Bancorp is
the parent company of U.S. Bank. Visit U.S. Bancorp on the web at
CONTACT: U.S. Bank Media Relations
Teri Charest, 612-303-0732
SOURCE: U.S. Bank