US Bank 2004 Annual Report Download - page 15

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OUR IN-STORE BANKING
NETWORK CONTINUES TO GROW
Our in-store branch network—the third largest in the
industry—delivers all the access of traditional branches to
our customers inside grocery and convenience stores. Build-
ing on the tremendous success of this lower cost distribution
channel, last year U.S. Bank began a major expansion of
in-store branches in fast-growing markets such as Arizona,
California, Nevada and Utah. These new branches continue
to exceed expectations for profi tability.
In 2003, we opened six new Nashville Publix and 32 new
Safeway, Vons, Smith’s, Pak N Save and Pavilion branches,
plus additional branches with other valued partners. We
continued to grow in 2004, opening 112 new in-store branches.
By the end of 2005, U.S. Bank will have opened 185 new
in-store branches as part of the newest expansion initiative,
for a total overall of 478 in-store branches in 19 states.
CONSUMER
BANKING
KEY BUSINESS UNITS
• 24-Hour Banking &
Financial Sales
• Business Equipment
Finance
• Community Banking
• Consumer Lending
• Home Mortgage
• In-store and Corporate
On-site Banking
• Investments and
Insurance
• Metropolitan Branch
Banking
• Small Business Banking
• SBA Division
• Workplace and
Student Banking
We continue to expand our unique Checking That Pays®
rewards program, which gives customers who use their
U.S. Bank Visa® Check Card the choice of four different
reward options. In 2004, U.S. Bank rewarded customers
more than $26 million in annual cash rebates, fi ve times
the $5 million rewarded in 2000.
Our customers want convenience,
accessibility, quality products and
outstanding service. Our distribution
channels—full-service banking offi ces,
ATMs, telephone banking, and internet
banking—deliver the deposit, credit,
mortgage, investment and insurance
products that support the goals and visions
of personal and small business customers.
Business momentum in Consumer Banking is strong, and
we continue to invest in technologies and initiatives that
enhance distribution and deliver on customer expectations.
Customer satisfaction remains our top priority, and new
Consumer Banking product initiatives are positively
impacting customer satisfaction. Enhancements to internet
banking on usbank.com, again ranked number one by
Speer and Associates, provide even greater fl exibility,
customization and functionality.
Signifi cant investment in innovative image technology
enables U.S. Bank Internet Banking customers to instantly
view more than 3.5 million check and deposit slip
images per month on their computer screens. A wide
range of operational procedures have also been simplifi ed
and streamlined.
Seattle
Spokane
Boise
Portland
Reno
Los Angeles
U.S. Bank operates full-service
in-store branches in these states
U.S. Bank’s current in-store branch
expansion initiative focuses on these
higher-growth markets
Phoenix
Tucson
Salt Lake City
Denver Kansas City
Omaha
Madison
Cedar Rapids
Des Moines
Nashville
Louisville
St. Louis
Cincinnati
Chicago Cleveland
Milwaukee
Columbus
Dayton
Minneapolis/
St. Paul
Las Vegas
Sacramento
San Francisco
San Diego
U.S. BANCORP 13