"U.S. Bank truly 'walks the talk' when it comes to investing in affordablehousing initiatives," said Joe Errigo, president of Common Bond Communities,Minnesota's largest nonprofit affordable housing provider. "With U.S. Bank'sinvolvement, we have been able to build and renovate over 500 housing units inthe past year that might otherwise not be available in neighborhoods."
The OCC noted that "USB has made substantial investments ... These investments have had a significant impact on those areas and addressed oftencritical affordable housing concerns."
The OCC noted that US Bank made substantial investments in housing tax credits, which significantly increased affordable housing opportunities. TheOCC also reported the bank had demonstrated an excellent responsiveness toeconomic development needs of its communities.
By awarding the highest rating possible to Minneapolis-based U.S. Bank, the OCC acknowledged US Bank's leadership role in meeting the credit needs ofits communities.
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