State Farm, America’s largest property and casualty insurance provider, and U.S. Bank, the country’s fifth largest commercial bank, today announced a strategic alliance whereby U.S. Bank will assume State Farm Bank’s existing deposit and credit card accounts and State Farm agents will have the unique opportunity and tools to introduce U.S. Bank deposit products and co-branded credit cards to State Farm customers. This alliance will benefit State Farm customers, offering them new, easy ways to manage their banking needs.

The alliance is part of a broader strategy by State Farm to exit banking operations. In addition to assuming State Farm Bank’s existing deposit and credit card accounts, the two companies are exploring working together to provide State Farm customers with access to vehicle loans and business banking products.

“State Farm has been committed to helping people for nearly 98 years. U.S. Bank is an outstanding institution that shares our commitment to strong customer relationships,” said State Farm President and CEO Michael Tipsord. “When we combine State Farm’s deep customer relationships with the scale and capabilities of companies like U.S. Bank, we can help significantly more people.”

The transition of deposit and credit card accounts is scheduled to begin after closing, subject to regulatory approval, later this year and into 2021. Current State Farm Bank customers do not need to take any action.

“We are excited about this new alliance with State Farm because it will help us reach more customers in the moments that matter most,” said Andy Cecere, chairman, president and CEO of U.S. Bank. “It is a terrific opportunity to combine U.S. Bank products, services and digital capabilities with State Farm’s coast-to-coast network of agents. This relationship will provide State Farm customers with enhanced product options while expanding U.S. Bank’s reach into new and existing markets.”

State Farm and its affiliates are the largest providers of auto and home insurance in the United States with nearly 19,000 agents serving approximately 84 million policies and accounts.

Barclays Capital Inc. advised State Farm in connection with this transaction.

“My mom is 82 years old and her smoke detector was not working,” says Barb Fowler, Normal, Ill., resident. “She’s had a stroke since we made the appointment to get it installed. Now we want to get everything in order for her to come home and recover.”

Sound the Alarm home fire safety and smoke alarm installation events are part of the Home Fire Campaign with the American Red Cross. During a recent effort in Bloomington and Normal, Ill., volunteers worked alongside fire departments and other local groups to canvass at-risk neighborhoods to install free smoke alarms, replace batteries in existing alarms, educate families about fire prevention and safety and fundraise.

State Farm^® partners with the American Red Cross for the Sound the Alarm campaign to educate community members on fire safety while providing a free smoke alarm to help keep them safe in the future. State Farm has provided charitable support to the American Red Cross and chapters throughout the country for the past 30 years, totaling more than $37 million, including investing in the Annual Disaster Giving Program.

State Farm associates volunteered at 51 events in 17 states, installing 10,718 smoke alarms and making 4,853 homes safer this year.

“The video the firefighter presented during training and interactions we had with people throughout the event made me realize how starting a fire and causing mass destruction could happen quickly. But preventing and keeping our families, friends and people in our community safe is a duty for us all,” says Smit Shah, State Farm employee and volunteer.

This year, the American Red Cross' national efforts to install free smoke alarms and educate residents on fire safety have made more than 50,000 households safer. More than 120,000 smoke alarms were installed across more than 100 at-risk communities.

Bev Kilmartin, Normal resident, saw an ad in the local newspaper about the program.

“The batteries went out on my old smoke alarms, and I realized we’d had them for at least 10 years. When I replaced the batteries, I noticed it wasn’t working correctly, so I decided to call and make an appointment,” Bev says.

“As a widow, it gives me a sense of security,” she adds. “If there is this type of program available, we should take advantage of it.”

“Everyone we encountered was friendly and appreciated us coming to assist them with this task,” says Tim Trunnell, State Farm employee and volunteer. “It was a great way to give back to the community and have fun.”

Normal resident Joe Nicklin contacted the Red Cross for an installation appointment because he knew his smoke alarm wasn’t working properly.

“When I light a fire in my fireplace and smoke gets into the house, the alarm doesn’t go off. That made me feel anxious,” he says. “I sleep with a CPAP (continuous positive airway pressure) machine, so I sleep pretty soundly. I needed some peace of mind.”

“After visiting the homes and installing alarms, it makes you realize how unaware people are of the importance of smoke alarms and how these inexpensive devices can help save a precious life,” Smit says.

As State Farm launched their new drone program to better assist customers after storm damage, they needed to recruit and train employees to become drone pilots. And they wanted the best of the best.

To the surprise of no one, Jessica Hodge, Joy Hillsman-Caffie and Shelley Cole rose to the top of the list. They are three of the six drone pilots for State Farm who are women.

The news of her selection came as a shock to Jessica, an eight-year State Farm claims specialist.

When I found out, I was excited and up for the challenge,” shared Jessica. “I consider myself an early adopter of the technology. State Farm is one of the first insurance companies to use drones and I’m one of the first drone pilots for State Farm. It’s cool to be on the cutting edge.”

Shelley had worked in Claims for just shy of 30 years when she was tapped on the shoulder to join the elite team. She was enthusiastic about the new adventure.

“It’s been quite the experience. It makes me feel like I’m really leading the way for other women,” Shelley said. “It also gave me a bit of an upper hand. As a female catastrophe claims specialist (which is a male dominated role), working with contractors (which is a male dominated job), being a drone pilot gave me a different level of respect.”

Joy is one of the lucky people in the world whose hobby became a career. After she heard about the drone program, she decided she wanted in. Recently introduced to drones herself, the 13-year employee made a few phone calls and advocated for herself. She officially passed her license test in the fall of 2017.

“Having to fight for something you want makes it sweeter. It’s also very cool being one of the women drone pilots at State Farm,” shared Joy. “We are really at the forefront of the industry and it’s great to be a part of that.”

Even better, her son who loves all things tech, thinks she’s pretty cool, too. “He says I’m one of his super heroes.”

Together they are defying statistics and helping customers recover from the unexpected.

As State Farm launched their new drone program to better assist customers after storm damage, they needed to recruit and train employees to become drone pilots. And they wanted the best of the best.

To the surprise of no one, Jessica Hodge, Joy Hillsman-Caffie and Shelley Cole rose to the top of the list. They are three of the six drone pilots for State Farm who are women.

The news of her selection came as a shock to Jessica, an eight-year State Farm claims specialist.

When I found out, I was excited and up for the challenge,” shared Jessica. “I consider myself an early adopter of the technology. State Farm is one of the first insurance companies to use drones and I’m one of the first drone pilots for State Farm. It’s cool to be on the cutting edge.”

Shelley had worked in Claims for just shy of 30 years when she was tapped on the shoulder to join the elite team. She was enthusiastic about the new adventure.

“It’s been quite the experience. It makes me feel like I’m really leading the way for other women,” Shelley said. “It also gave me a bit of an upper hand. As a female catastrophe claims specialist (which is a male dominated role), working with contractors (which is a male dominated job), being a drone pilot gave me a different level of respect.”

Joy is one of the lucky people in the world whose hobby became a career. After she heard about the drone program, she decided she wanted in. Recently introduced to drones herself, the 13-year employee made a few phone calls and advocated for herself. She officially passed her license test in the fall of 2017.

“Having to fight for something you want makes it sweeter. It’s also very cool being one of the women drone pilots at State Farm,” shared Joy. “We are really at the forefront of the industry and it’s great to be a part of that.”

Even better, her son who loves all things tech, thinks she’s pretty cool, too. “He says I’m one of his super heroes.”

Together they are defying statistics and helping customers recover from the unexpected.

A World War II veteran from Sioux City, Iowa, William had just turned 19 when he entered the United States Army. He served as a private in the Fourth Infantry Division, landing in Normandy 10 days after D-Day and remaining there throughout his time of service.

Upon returning to the U.S., William began his adult life by completing college and getting a job as an insurance investigator. He even bought a car. There was only one problem — he didn’t know how to drive it.

After seeing a sign for State Farm, William decided to stop by the local agent’s office. He strolled into Agent Larry Holland’s office and inquired about auto insurance. In the course of their conversation, William also mentioned that he needed to learn how to drive.

“Larry told me right there that he would get off work in a few hours and could teach me to drive that very afternoon. I’ll never forget that,” says William. “Especially after coming back from the war, it really meant a lot.”

William hadn’t been raised by his father, and he ended up relying on Larry in many ways.

“He was a really fatherly guy. We always sat and visited and talked about everything. He was about my dad’s age. I just felt very comfortable with him,” says William.

Over the next 73 years, William and his wife, Doris, purchased life, home and multiple auto insurance policies with State Farm. William insured several rental properties with the company as well. The couple now lives in Athens, Ill. Their current State Farm agent is Jenifer Sellers.

“William is by far one of the most interesting customers I have ever worked with. He continues to be an incredible advocate for State Farm,” says Jenifer. “His story is a shining example of how agents can impact customers. This is why the State Farm model works.”

State Farm, which was founded in 1922, has been with the Schimm family through every season, literally and figuratively. From rental property chaos and Iowa hail storms to the raising of four children and the birth of five grandchildren, William and Doris have had State Farm at their side.

Why has William stayed with State Farm for so many years?

“The service. Now I’m not just saying this; it’s actually what has happened—I’ve never had a problem with State Farm,” says William. “Anytime I wanted something or something happened, State Farm was there taking care of me.”