Good Neighbor Stories

U.S. Bank personal loans now available through State Farm®

Wed, 26 Mar 2025 08:00:00 -0500

In the latest expansion of the State Farm and U.S. Bank alliance, State Farm customers can now apply for U.S. Bank personal loans for up to $50,000 working directly with their agent. The new offering joins the existing suite of U.S. Bank products accessible through State Farm agents that includes deposits, co-branded credit cards and a full suite of business banking products and services.

“Together, we have already helped more than 900,000 State Farm customers access the financial products they need through their agent relationships,” Arijit Roy, head of consumer and business banking products at U.S. Bank. “Our strategy around alliances and collaborations is one we continue to invest in to reach new customers and help grow our business.”

The opportunity to offer U.S. Bank personal loans will be available to all State Farm agents and is the latest expansion of the collaboration between the two dating back to early 2020.

For qualified borrowers, U.S. Bank personal loans can provide one-time funding for any major purchase or project, including home improvements, debt consolidation or a vehicle purchase. U.S. Bank recently expanded its availability of personal loans to include all 50 states.

“At State Farm, we are committed to providing financial products that help meet the needs of our customers. Adding U.S. Bank unsecured personal lending to an already robust banking suite enhances our ability to add value and help meet the evolving financial needs of the State Farm customer,” said Luke Kasten, head of Corporate & Business Development for State Farm. “We’re excited about the opportunity for State Farm agents to help more people in more ways by expanding the alliance with U.S. Bank.”

State Farm® and U.S. Bank unveil enhanced rewards as part of new consumer and business credit card offerings

Fri, 23 Apr 2021 08:07:41 -0500

MINNEAPOLIS (April 13, 2021) – State Farm® customers now have exclusive access to new credit card options thanks to the alliance between the insurer and U.S. Bank, which was first announced in March 2020. U.S. Bank brings many digital enhancements that, paired with the experience and support of State Farm agents, make the three new cards easy to apply for and easy to use.

The credit card product suite offers valuable options for consumer and business customers. Whether a preference for maximizing rewards or enjoying low introductory rates, U.S. Bank and State Farm are making it easy for State Farm customers to find a card that fits their individual needs.

The new cards have no annual fee, enhanced protection for auto, cell phone and more. Benefits include:

State Farm® Premier Cash Rewards Visa Signature® Card • Double cash back bonus on cardholder’s first anniversary– up to $300.
3% cash back on insurance premium payments, up to $4,000 spent annually.
2% cash back at gas stations, drugstores, grocery stores and on dining, including takeout and food delivery services.
1% cash back on all other eligible purchases.
- State Farm® Good Neighbor Visa® Card
Low intro rate for balance transfers and big purchases.

State Farm® Business Cash Rewards Visa Signature® Card

$100 annual credit for business software subscriptions.
Low intro rate for balance transfers and big purchases.
3% cash back on insurance premium payments, up to $4,000 spent annually.
3% cash back at gas stations, cell phone service providers, office supply stores and on dining, including takeout and food delivery service purchases.
1% cash back on all other eligible purchases.

“The alliance between State Farm and U.S. Bank is helping meet more customers’ financial services needs in more ways,” said Mike Kish, vice president - State Farm Corporate & Business Development. “State Farm agents are able to understand each customer’s needs and help them select a credit card that best meets those needs. Agents and customers are also able to use U.S. Bank’s digital capabilities to further enhance the experience.”

“U.S. Bank is proud to collaborate with State Farm to offer their customers credit card choices that best fit their individual needs,” said Steve Mattics, executive vice president of U.S. Bank Retail Payment Solutions. “The new State Farm credit cards are an important step in our alliance and reflect our shared commitment to reward customers with the things that matter most to them, and to create amazing digital experiences so that customers can get the most from their credit cards.”

State Farm and U.S. Bank Announce Strategic Alliance to Bring U.S. Bank Products and Services to State Farm Customers

Thu, 05 Mar 2020 13:15:33 -0600

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.