At U.S. Bank, diversity and inclusion are defining characteristics of our company and culture. By creating and sustaining a diverse workforce, we’re able to grow our business and deepen relationships with employees, our communities and diverse suppliers.
U.S. Bank is committed to hiring military veterans. Approximately 2,000 veterans work at U.S. Bank, including National Guard and Reserve members. In 2016, nearly 500 veterans joined the Company.
We provide a variety of resources to support veterans and military spouses. Our policies regarding leave, benefits and pay differential for National Guard and Reserve employees are among the most inclusive in our industry and exceed state and federal standards.
“I was amazed at all of the things the bank did to support me throughout my deployment, including paid military leave, differential pay, phone calls from executive leadership and lots of letters and care packages throughout the deployment,” said Steve Babcock, Major with the Minnesota National Guard and a member of the U.S. Bank network security team. “The bank also loaned me two iPads, one for me and one for my family, allowing me the opportunity to have movie nights with my wife, watch my children open presents on their birthdays and walk with my son to his first day of kindergarten, all while 7,000 miles apart.”
U.S. Bank’s supplier diversity program has had a marked impact nationwide on small firms owned by women, minorities, veterans and LGBT owners. Especially in recent years, as the amount the bank spends with diverse suppliers has grown steadily each year.
The growth is due to several factors: senior executives – not just supplier diversity staff – attending minority supplier meetings and managers actively championing vendors for additional contracts across the bank and even with other large corporations.
One of the biggest factors was a change the program made two years ago: adding LGBT- and veteran-owned suppliers to its list. That addition is rare in supplier diversity circles and helped earn U.S. Bank the “Corporation of the Year” award in 2016 from the North Central Minority Supplier Development Council, a supplier advocacy group in Minneapolis.
When rioters burned a gasoline station and convenience store in Ferguson, Missouri, following the police shooting of Michael Brown in 2014, the burned out remains stood as a symbol of the rage and lack of opportunities for African-Americans in the St. Louis suburb.
But the Urban League of Metropolitan St. Louis had a vision for the site of the former QuikTrip. The organization is building its Ferguson Empowerment Center on the site with a $20,000 donation and a $2 million New Markets Tax Credit equity investment from U.S. Bancorp Community Development Corporation.
“This funding from U.S. Bank was essential for us to reach our goal of a larger building to house more agencies that could meet a greater range of needs, not just in Ferguson, but in surrounding municipalities and beyond,” said Michael P. McMillan, President and CEO of the Urban League.