Banking remains crucial to the recovery and, ultimately, the soundness of the nation's economy.
— Richard K. Davis
Headquartered in Goodlettsville, Tennessee, Dollar General Corporation has been delivering value to shoppers for nearly 75 years by offering products that are frequently used and replenished, such as food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares and seasonal items at low everyday prices in convenient neighborhood locations. With over 11,000 stores in 40 states, Dollar General has more retail locations in the U.S. than any other discount retailer. In addition to high quality private brands, Dollar General sells products from America’s most-trusted manufacturers such as Procter & Gamble, Kimberly Clark, Unilever, Kellogg’s, General Mills, Nabisco, Hanes, PepsiCo and Coca-Cola. U.S. Bank is proud to play a role in financing Dollar General’s growth and success and in providing deposit, treasury management and trust services to the company.
U.S. Bancorp is extending its reach in our footprint communities, in our national businesses and in our global payments, treasury management and corporate trust businesses internationally. We extend our reach to serve ultra high net worth clients through our Ascent™ Private Capital Management group in Wealth Management, with its unique focus on helping families with complex needs build a legacy and make a difference. Through our high-grade fixed income group, we have extended our reach to allow large credit-worthy customers to issue debt to investors, and we can trade investments for the benefit of our corporate and institutional clients.
Reaching out
Strategic acquisitions have extended our reach in some areas, and innovative new products and services do the same in other businesses, while collaboration with our customers extends the reach, as well as depth of existing relationships. Our industry-leading debt ratings and financial performance have opened new doors in national corporate banking as we vie for new, larger lending opportunities, particularly in lead and top tier positions. Those positions in turn, provide potential additional ancillary services for those customers.
Strategic acquisitions and partnerships
Already one of the largest global providers of corporate trust services, we continue to build scale and reach in our securities services business. In November, U.S. Bancorp Fund Services, LLC, a subsidiary of U.S. Bancorp, acquired Quintillion Limited, an Ireland-domiciled full-service hedge fund administrator, to support our strategic initiative to expand our alternative investment servicing network for the European investment community. In March, U.S. Bank also purchased the municipal bond trustee business of Deutsche Bank, adding approximately $57 billion to the more than $3 trillion in assets currently under administration within U.S. Bank’s corporate trust division, further strengthening our position as the #1 provider of municipal trustee and agency services in the nation.
In April, Elavon, a wholly owned subsidiary of U.S. Bancorp and a global leader in payments solutions, and Banco Santander created a joint venture to deliver merchant services in Spain providing service, support and innovative solutions to enable commerce for businesses of all sizes.
Mobile connects the world
Our online and mobile innovations extend our reach to anywhere in the world and to new customers who value the ease, speed and security of our digital innovations.
Our FlexControl® online tool helps credit card customers control their payment schedules and avoid fees; our usbankConnect.com site gives small business owners free tools and resources and includes a LinkedIn feature; our Go Mobile app pilot allowed customers to test a service to quickly and securely pay for everyday purchases with a wave of their iPhones; and we expanded our Digital Wallet options with the addition of Square.
As commerce changes, as the world gets ever smaller and as mobile devices multiply exponentially, U.S. Bank will stay at the forefront of the global and mobile revolution, extending our reach.
East coast distribution system serves expanding customer base
U.S. Bank’s commitment to expanding wholesale banking, corporate trust and custody, wealth management, fund services, high grade bonds, corporate real estate and other corporate businesses on a national scale is nowhere more apparent than in major cities in states along the east coast — particularly New York City, Boston and Charlotte. Growth in locations, employees, clients and revenue has been substantial as we serve the sophisticated banking, treasury management, credit and capital markets needs of large corporate and institutional clients. Additionally, with our leadership position and expertise in the payments industry, we can build even deeper relationships with our clients who do business nationally and globally. Today, we can compete with anyone in the business, with the best people and products in the industry.