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MarketScreener Homepage  >  Equities  >  Nyse  >  US Bancorp    USB

US BANCORP (USB)
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U.S. Bancorp : U.S. Bank Honors San Francisco-Based On Lok Senior Health Services with Shared Values Award

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03/14/2012 | 02:05pm CEST

U.S. Bank will honor On Lok, Inc., an organization that has provided comprehensive medical and social services to Bay Area seniors for the past 40 years. On Lok is the fifth recipient of U.S. Bank's annual "Shared Values Award," which will be presented to the organization during the U.S. Bank Economic Seminar on Thursday, March 15. The event will take place at the Herbst Theatre and will include a presentation by Stanford Economics Professor Nicholas Bloom at 5 p.m., followed by the award presentation at 6 p.m.

The U.S. Bank Shared Values Award honors Bay Area organizations that share U.S. Bank's commitment to ethics, integrity, customer service and community support. The organization will receive $25,000 as part of the award. Past honorees have included the Boys & Girls Clubs and the Rogers Family & Co. Trust.

"On Lok has been a leader in providing quality health care to seniors in the Bay Area for decades," said Michael Walker, president of U.S. Bank in Northern California. "Their commitment to providing long-term care programs, housing, activities and support to a growing number of seniors in the Bay Area is highly commendable, and we are honored to shine a light on the good work they do by honoring them with the U.S. Bank Shared Values Award."

On Lok is a nonprofit organization founded in the early 1970s by a group of citizens concerned about the plight of elders and the lack of long term care options in the community. Today, under the leadership of Robert Edmondson, chief executive officer, On Lok has become a model for other communities nationwide that are learning from the successes of its programs and services, including: On Lok Lifeways, a comprehensive health plan that provides full medical care and support services to eligible seniors to enable them to live in their homes and communities for as long as possible; 30th Street Senior Center, a multipurpose senior center that provides enriching activities and essential services to active seniors; and On Lok Community Housing, which manages residential units for older adults.

On Lok Lifeways' pioneering efforts in the Bay Area led to the creation of PACE - the Program of All-Inclusive Care for the Elderly - a model of care delivery which has been replicated by 79 organizations in 32 states. Policy experts hail PACE as the "gold standard for geriatric care" providing eligible participants all the services frail seniors need to enable them to stay in their homes and avoid costly, impersonal institutional care.

"On Lok is very appreciative of U.S. Bank for honoring us with the Shared Values Award that recognizes our strong commitment to the people we serve," said Edmondson. "We are very proud to exemplify the shared values of integrity, customer service and community involvement."

U.S. Bank has 88 branches and more than 1,100 employees in the Greater San Francisco Bay Area, with regional headquarters at 1 California Street in downtown San Francisco. U.S. Bank is the official bank of the San Francisco 49ers and supports numerous nonprofit organizations in the region, including the Tenderloin Neighborhood Development Corporation, Renaissance Entrepreneurship Center and East Bay Affordable Housing Organization.

U.S. Bancorp (NYSE: USB), with $340 billion in assets as of Dec. 31, 2011, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States. The company operates 3,085 banking offices in 25 states and 5,053 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.

U.S. Bank Media Relations
Teri Charest, 612-303-0732
teri.charest@usbank.com


© Business Wire 2012
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Jeffry H. von Gillern Vice Chairman-Technology & Operations
Terrance R. Dolan Vice Chairman & Chief Financial Officer
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Arthur D. Collins Independent Director
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