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US BANCORP

(USB)
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Delayed Nyse  -  04:00 2022-11-29 pm EST
44.59 USD   +1.94%
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US Bancorp : U.S. Bank Voyager Fleet Program expands to government agencies, schools, more

08/04/2021 | 09:28am EST
Our innovative and competitively bid Voyager Fleet Program available through Sourcewell.

State and local government agencies, nonprofits and schools with fleets of vehicles now have access to the U.S. Bank Voyager Fleet Program, including a one-of-a kind offering that makes it easier for them to manage their vehicle maintenance and repairs in a completely new way with contactless payments.

The U.S. Bank Voyager Fleet Program is now available to the more than 50,000 agencies who are members of the Sourcewell consortium. Sourcewell, a government agency that holds hundreds of competitively sourced cooperative contracts for things like construction and administrative services, recently awarded a contract to U.S. Bank for the program, which includes the Voyager Fleet Card and the Voyager Maintenance Solution. 

The Voyager Fleet Card allows any public-sector organization, including police forces, firefighters and schools, to pay for fleet fuel and maintenance. With the Voyager Maintenance Solution, an agency provides U.S. Bank with the vehicle identification number (VIN) for each vehicle in its fleet and payment information. Once enrolled, card swipes are no longer needed for maintenance and repairs.

The shop scans the VIN, and the Voyager Maintenance Solution approves or declines the repair based on the parameters that were pre-determined with the agency. Costs are billed directly to the agency's Voyager account. There's no need for the driver to tender payment, provide a credit card, or touch any kind of point-of-sale device.

'Right now, with the cases of COVID-19 on the rise, businesses and public-sector organizations are doing all they can to protect their customers and employees,' said Cheryl Garcia, senior vice president of Public Sector Transportation Sales and Relationship Management for U.S. Bank. 'U.S. Bank is the only provider with a program like this. Not only does it keep fleet drivers and shop employees safe during the pandemic - it also helps agencies with fleet vehicles save money by specifying what, when and where all repairs and services can be performed.' 

During the pandemic, many government agencies, nonprofits and schools are looking to gain cost and operational savings. The Voyager Maintenance Solution allows them to specify a schedule for oil changes or other routine maintenance along with preferred parts or supplies so they don't spend more than needed. When a vehicle needs maintenance, it can be dropped off or even picked up for service. In many locations, a driver can remain socially distant inside the vehicle.

The Voyager Maintenance Solution also provides fleet managers with transparency and control over the details of every purchase, including every part number used on the vehicle. 

Sourcewell offers a streamlined way for clients to quickly realize the benefits of the Voyager while remaining focused on their core missions. The competitive bidding and procurement processes have already been managed by Sourcewell so agencies can join the Voyager Fleet Program in an easy, fair, compliant way - an important consideration, as government agencies are subject to many laws and regulations around how they procure goods and services. 

For more information about the Voyager Fleet Card and the Voyager Maintenance Solution, please visit pages.usbank.com/sourcewell (public sector) or pages.usbank.com/voyager-fleet (all others).

Disclaimer

U.S. Bancorp published this content on 04 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2021 13:25:05 UTC.


ę Publicnow 2021
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Sales 2022 24 360 M - -
Net income 2022 5 918 M - -
Net Debt 2022 - - -
P/E ratio 2022 10,9x
Yield 2022 4,29%
Capitalization 64 990 M 64 990 M -
Capi. / Sales 2022 2,67x
Capi. / Sales 2023 2,24x
Nbr of Employees 68 796
Free-Float 69,8%
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Number of Analysts 24
Last Close Price 43,74 $
Average target price 52,04 $
Spread / Average Target 19,0%
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Andrew J. Cecere Chairman, President & Chief Executive Officer
Terrance R. Dolan Chief Financial Officer & Vice Chairman
Jeffry H. von Gillern Vice Chairman-Technology & Operations Services
Dilip Venkatachari EVP, Global Chief Information & Technology Officer
Katherine B. Quinn Vice Chairman & Chief Administrative Officer
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