U.S. Bank Continues to Excel in 2011 American Customer Satisfaction Index (ACSI)

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MINNEAPOLIS--(BUSINESS WIRE)-- Customers continued to rank U.S. Bank highly in overall satisfaction, quality and value according to American Customer Satisfaction Index (ACSI) research conducted in the third quarter of 2011. U.S. Bank once again exceeded the industry average and the four largest banks in the country. The ACSI releases the results of the four largest banks in the country, along with industry average and the combined average of all other banks. The highest reported score for a bank was 73 and industry average was 75 for overall satisfaction.

Looking at two primary drivers of overall satisfaction – quality and value – U.S. Bank remains above the industry average and the largest four banks. In customer retention, U.S. Bank scored significantly higher than the bank industry average.

“Our customer satisfaction scores validate the investment we’ve made in our employees, products and technology,” said Richard Davis, chairman, president and chief executive officer of U.S. Bancorp. “Our customers have rewarded us with their business, and I’m proud to represent 60,000 U.S. Bancorp employees who are honored to be their financial partner.”

ACSI independently surveys customers of the largest companies in consumer goods and services industries. U.S. Bank has engaged ACSI to survey its retail customers over the last several years and continues to improve its scores.

About ACSI
The American Customer Satisfaction Index is a national economic indicator of customer evaluations of the quality of products and services available to household consumers in the United States. It is updated each quarter with new measures for different sectors of the economy replacing data from the prior year. The national ACSI score for a given quarter factors in scores from about 225 companies in 45 industries and from local and federal government services over the previous four quarters. The ACSI was developed at University of Michigan’s Ross School of Business and can be found on the web at www.theacsi.org.

About U.S. Bancorp
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.