Trust: the most important word in banking

March 22, 2017 | GET MORE : Ethics

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In his final shareholder letter, CEO Richard Davis wrote about one thing that hasn't changed in his 41 years as a banker.

Trust.

It was the most important word in banking when I opened my teller window for the first time as an 18-year-old banker in 1976.

Every day, men, women, families and small business owners looked me in the eye and trusted me with their hard-earned dollars. That daily eye contact at the teller window taught me everything I needed to know as a banker: do the right thing and re-earn their trust today.

It was a simpler time, when digital footprint, tokenization and cybersecurity were only science-fiction terms. Transactions were passed through my window, not through fiber optics. Real-time speed was the time it took bills and payments to go from mailbox to mailbox via the U.S. Postal Service.

Times have changed. The essence of the relationship between bankers and customers, however, has not: do the right thing and re-earn their trust today.

Preserving, protecting and nurturing trust has been the centerpiece of my professional journey and the platform on which U.S. Bancorp has created shareholder value for decades. Now, as I wind down my 41-year career as a banker — in a very complex, fast-paced, digital age — it is clear that preserving, protecting and nurturing trust is more important than ever for U.S. Bank — and the entire banking industry.

I am proud that every morning, our 73,000 employees start their days by opening their figurative teller windows — together. This togetherness in purpose is our formula that we call "one U.S. Bank" — and it is the foundation for how we generate long-term growth, help customers achieve financial security, revitalize communities, embrace sustainable business practices and, ultimately, become the most trusted choice for all our stakeholders.

Do the right thing and re-earn their trust today. It’s a formula that will never change at U.S. Bank.

Read more at U.S. Bank's Annual Report site.