Bank Unveils Progressive Family Leave Policy, Says it Will Double Military Hiring in 2012
MINNEAPOLIS, Nov 09, 2011 (BUSINESS WIRE) — Already recognized as one of the top corporate supporters of the military, U.S. Bancorp today announced it will double its military hiring in 2012. The company also unveiled a generous leave policy for employees with family serving in the military.
Beginning next year, in recognition of the many sacrifices that military family members make, U.S. Bank will offer employees up to two weeks paid leave to cover time they would otherwise take off unpaid, per state or federal law, in connection with a family member's military service. Depending on state laws, the time can be taken not only with the deployment of a child, parent or spouse, but may be available to extended family as well.
In addition, U.S. Bank aims to double the number of veterans and/or members of the National Guard and Reserves hired in 2012. To aid in that effort, U.S. Bancorp will launch a military-specific recruiting website, http://proudtoserve.usbank.com, that will assist service members identify areas at U.S. Bank where their skills and interests might be a match. In addition, U.S. Bank has launched a Leadership Development Program in two of its consumer banking markets that recruits transitioning officers into a branch management training program.
As of October, the company employed 1,643 veterans and/or members of the guard/reserve – more than 200 have been hired this year alone.
"Unemployment among veterans is at 13 percent nationally. We want to do our part to help improve that situation," said Richard Davis, chairman, president and CEO of U.S. Bancorp. "We have seen over the years that veterans make terrific employees, thanks in part to their work ethic, leadership and dedication."
U.S. Bank's steady and growing commitment to current and former members of the military and their families earned the company "Yellow Ribbon" status in its headquarters state of Minnesota this year.
Also this year, U.S. Bank established the U.S. Bank Military Service Center, a dedicated customer service line for military members and their families that will be staffed with bankers familiar with the Service member's Civil Relief Act, as well as the unique financial circumstances faced by members of the military and their families. The Military Service Center can be reached at 800-934-9555 and is open Monday through Friday from 7 a.m. to midnight ET, with back-up support from U.S. Bank 24-hour banking during off hours.
U.S. Bancorp started its Military Initiative in 2008 under the direction of Richard Davis and vice chairs Richard Hartnack and Richard Payne, who are both veterans. Each year, Davis, Hartnack and Payne host a conference call, honoring employee military service members and their families. This year's call will feature Gen. Stanley A. McChrystal, U.S. Army, (Ret.). McChrystal, a retired four-star general, is the former commander of U.S. and International Security Assistance Forces (ISAF) Afghanistan and the former commander of the premier military counter-terrorism force, Joint Special Operations Command (JSOC).
Awards & Recognition
Military Times magazine named U.S. Bank as one of just 46 companies in their Best of Vets 2011 annual survey. Over 1,000 firms were surveyed for their recruiting, policies for reservists and overall corporate culture pertaining to the military.
Also, in April 2011, U.S. Bancorp was recognized as one of Minnesota's primary supporters of employees who serve in the National Guard and Reserve by Employer Support of the Guard and Reserve (ESGR). ESGR is a Department of Defense agency that seeks to promote a culture in which all companies support the values of military service by their employees. U.S. Bank signed a statement of support for ESGR in 2009.
About U.S. Bank
U.S. Bancorp (NYSE: USB), with $330 billion in assets as of Sept. 30, 2011, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States. The company operates 3,089 banking offices in 25 states and 5,092 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 and its employees are dedicated to improving the communities they serve, for which the company earned the 2011 Spirit of America Award, the highest honor bestowed on a company by United Way. Visit U.S. Bancorp on the web at www.usbank.com.
SOURCE: U.S. Bancorp
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.