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U.S Bank Introduces Community Card for Tax-Exempt Organizations

  U.S Bank Introduces Community Card for Tax-Exempt Organizations

   Organizations get online tools to manage expenses, can earn cash rewards

Business Wire

MINNEAPOLIS -- December 5, 2013

Non-profit organizations and small municipalities can now apply for a U.S.
Bank credit card with fewer fees, a powerful online expense-management tool
and other features crafted to their unique needs.

The U.S. Bank Visa® Community Credit Card has no annual fees, no late fees and
no over-limit fees and is now offered in all U.S. Bank branches.

“The U.S. Bank Community Card is designed for non-profit organizations and
municipalities where usual credit-underwriting standards sometimes aren’t
appropriate,” said Cathi Stanton, senior vice president for U.S. Bank Retail
Payment Solutions. “For instance, instead of assigning liability to board
members – which can be a tough ask for non-profits – the liability is held by
the organization.”

Other features include:

  *All accounts receive consolidated central billing statements – making it
    easy for organizations to track expenses.
  *Domestic, dedicated cardmember service available 24 hours a day, 7 days a
    week.
  *Free online management reporting with ScoreBoard
    (www.usbank.com/scoreboard).
  *Optional, free rewards program: 1% cash back on all net purchases. A
    non-reward option is also available.
  *Underwritten on the financial strength of the organization, no guarantor
    required.
  *Line size based on the financial strength of the organization.

Examples of non-profits that can benefit include: religious organizations;
cultural groups; foundations; social services; educational institutions; and
other tax-exempt institutions. Municipal organizations that may qualify
include: local, state, federal entities; schools; city or county offices;
fire, police, and sheriff departments; and public housing administrations.

“U.S. Bank’s free ScoreBoard tool lets tax-exempt organizations see, compare
and control expenses more efficiently, giving staff more time to focus on the
organization’s mission and needs,” Stanton said. “We’re delighted to offer a
high-value product for our communities.”

The U.S. Bank Visa Community Credit Card is now available at all U.S. Bank
branches.

In October, U.S. Bank introduced another new specialty credit card: the U.S.
Bank Visa Signature® Company credit card. Designed for companies with $1
million to $10 million in annual revenues, it offers unique advantages for
businesses such as no personal guarantor and cash-back rewards.

About U.S. Bank
Minneapolis-basedU.S. Bancorp(NYSE: USB), with$361 billionin assets as
ofSept. 30, 2013, is the parent company ofU.S. Bank, the 5th largest
commercial bank inthe United States. The company operates 3,088 banking
offices in 25 states and 4,937 ATMs and provides a comprehensive line of
banking, brokerage, insurance, investment, mortgage, trust and payment
services products to consumers, businesses and institutions. VisitU.S.
Bancorpon the web at usbank.com.

Contact:

U.S. Bank
Teri Charest, 612-303-0732
U.S. Bank Public Relations
teri.charest@usbank.com
 
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