U.S. Bank has been the most essential bank amid COVID-19, according to the new ranking by The Harris Poll. In The Essential 100: Company Reputation Amid COVID-19, the company ranked No. 64 overall and first among all banks.
Published on June 12, the ranking is based on a national survey asking Americans their opinion on how companies have responded to the pandemic on several factors:
- Resolve: Do you think the company should be providing solutions during the COVID-19 pandemic?
- Trustworthiness: Do you trust the company to respond appropriately and effectively to the COVID-19 pandemic?
- Responsiveness: Do you think the company has had a good response or a poor response to the COVID-19 pandemic?
- Permanence: How much would you miss the company if it closed for good?
“When they needed it the most, Americans put their trust in the business community to help them through COVID-19,” said John Gerzema, CEO of The Harris Poll, in a press release. “We’ve seen widespread approval of the corporate response to the pandemic — whether pivoting to different goods and services, reinforcing supply chains or seeking cures for the deadly virus.”
U.S. Bank has responded to the pandemic in a variety of ways to help customers, employees and communities, including: modifying personal and small business products for customers; instituting a premium pay program for front-line employees; expediting community giving programs; and other changes.
The company is also one of the largest participants in the SBA Paycheck Protection Program. To date, it has secured funding approval for more than 97,000 applicants, totaling more than $7.3 billion and with the potential to impact more than 840,000 workers across the country — more than 85 percent of those loans were for less than $100,000.
In a message, U.S. Bank Chairman, President and CEO Andy Cecere wrote, “Our entire team has rallied around each other, our customers and our communities, and it is a tremendous honor to work with them as we fight this pandemic. We stand together, and we are focused on keeping people healthy and safe — personally, professionally and financially.”