U.S. Bancorp
05/23/2022 | Press release | Distributed by Public on 05/23/2022 23:07
U.S. Bank joins U.S. Black Chamber’s ByBlack platform as corporate partner
Through its membership, U.S. Bank will help U.S. Black Chamber members receive third-party certifications that will then help them gain more access and visibility to business owners.
Minneapolis (May 23, 2022) - U.S. Bank is pleased to announce it has joined the U.S. Black Chambers, Inc. (USBC) ByBlack platform, the nation's largest certification program for Black-owned businesses, to help Black businesses expand and meet the needs of large companies in the industry as suppliers.
Through its membership, U.S. Bank will help U.S. Black Chamber members receive third party certifications which will then help them gain more access and visibility to business owners. This is part of U.S. Bank Access Commitment™, the company's long-term approach to increase wealth building opportunities, redefine how diverse communities are served, and provide more opportunities for diverse employees.
The ByBlack platform enables corporations like U.S. Bank to easily find and engage with Black-owned suppliers, while helping ByBlack certified businesses understand how they can best serve corporate clients' needs and get contracts through their supplier diversity programs.
"At a time when economic equity is front and center in America, corporations need to take actionable steps to advance Black business of all sizes in their supply chain," said Ron Busby Sr., President and Chief Executive Officer of USBC. "ByBlack represents a real opportunity for corporations to connect directly with Black suppliers who are ready to do business. We are excited about this collaboration with U.S. Bank to help scale Black businesses in a market that traditionally has not been accessible to them."
In addition to helping with certification support, the work with U.S. Black Chamber will also help to better connect small business owners with the right U.S. Bank employees to further support their personal and business banking needs. The goal of this partnership is to collaborate with various business lines across U.S. Bank to ensure small business owners have full support to increase equitable access to capital across the communities we serve.
"Becoming part of the U.S. Black Chamber nationally is another example of our commitment to our vendors, customers and employees," said Hector Martinez, vice president of Supplier Diversity at U.S. Bank. "Our support of the U.S. Black Chamber will help provide access to capital for small businesses and build stronger communities in our footprint."
The supplier diversity program at U.S. Bank is committed to promoting business opportunities for certified minority and woman owned business enterprises (MWBEs) as well as certified veteran, disabled and LGBTQ owned businesses. All employees that purchase or influence purchasing decisions are responsible for identifying opportunities for diverse suppliers to participate in the competitive bid process on an equal basis with all other bidders. In 2021, U.S. Bank spent $199 million with Black suppliers and forged new relationships with dozens of Black suppliers.
Information about upcoming training sessions, webinars and other activities are available on the USBC website, usblackchambers.org.
About U.S. Bank
U.S. Bancorp, with approximately 70,000 employees and $587 billion in assets as of March 31, 2022, is the parent company of U.S. Bank National Association. The Minneapolis-based company serves millions of customers locally, nationally and globally through a diversified mix of businesses: Consumer and Business Banking; Payment Services; Corporate & Commercial Banking; and Wealth Management and Investment Services. The company has been recognized for its approach to digital innovation, social responsibility, and customer service, including being named one of the 2022 World's Most Ethical Companies and Fortune's most admired superregional bank. Learn more at usbank.com/about.
About the U.S. Black Chambers, Inc.
The U.S. Black Chambers (USBC) is the voice of Black business owners and a top advocate for resources and policies that impact Black business owners. To learn more visit: www.usblackchambers.org