Western Union Signs U.S. Bank, Sixth Largest Commercial Bank

Western Union Signs U.S. Bank, Sixth Largest Commercial Bank

Agreement Brings the World Closer to Banked Consumers Across 2,791 Locations

ENGLEWOOD, Colo. & MINNEAPOLIS, Mar 24, 2009 (BUSINESS WIRE) — The Western Union Company (NYSE: WU), a global leader in money transfer services, and U.S. Bank, the sixth largest commercial bank in the United States and lead bank of U.S. Bancorp (NYSE: USB), announced today an agreement to offer the Western Union(R) global money-transfer service in 2,791 U.S. Bank branch offices across 24 states. The agreement will connect consumers to more than 334,000 Western Union Agent locations worldwide.

The signing of U.S. Bank is an important step in Western Union’s North America “go-to-market” strategy by entering into new classes of trade. As Western Union expands its service offerings, in an effort to strongly position money transfers to consumers, it is tapping into consumer banking channels including: Cash-to-Cash, Account-to-Cash, and Account-to-Account.

“U.S. Bank is pleased to join Western Union’s global money transfer network,” said Richard Davis, chairman, president and chief executive officer of U.S. Bancorp. “This relationship brings together two historic American companies - U.S. Bank, chartered in 1863, and Western Union, with roots dating back to 1851 - to provide Western Union’s unmatched distribution and market strength through our network of 2,791 U.S. Bank branch offices. We look forward to a great future together.”

In 2008, Western Union completed more than 188 million consumer-to-consumer transactions worldwide.

Stewart Stockdale, executive vice president and president, The Americas for Western Union, added, “The prevailing need for banked and un-banked consumers to send money around the corner and the world brings a significant partnership opportunity to both U.S. Bank and Western Union. Together, our businesses provide valuable services to our consumers.”

“U.S. Bank is a leading edge financial services institution. Our agreement with U.S. Bank is part of Western Union’s new focus on identifying and driving the development of best-in-class services to expand the company’s business to new consumer segments in the United States.”

The Western Union(R) global money-transfer service will be available at U.S. Bank locations as soon as May 2009. U.S. Bank walk-in consumers will be able to send domestic or international money transfers for payout in 200 countries and territories. Plans also include expanding Western Union’s services to U.S. Bank online consumers.

About Western Union

The Western Union Company (NYSE: WU) is a leader in global money transfer services. Together with its Vigo and Orlandi Valuta branded money transfer services, Western Union provides consumers with fast, reliable and convenient ways to send and receive money around the world, as well as send payments and purchase money orders. It operates through a combined network of more than 375,000 Agent locations in 200 countries and territories. Famous for its pioneering telegraph services, the original Western Union dates back to 1851. For more information, visit www.westernunion.com.

About U.S. Bancorp

U.S. Bancorp, with $266 billion in assets, is the parent company of U.S. Bank, the 6th largest commercial bank in the United States. The company operates 2,791 banking offices and 5,164 ATMs in 24 states, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. For more information, visit www.usbank.com.


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