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Kroger customers will have access to a platform of financial services through a new strategic alliance with U.S. Bank.
“Both Kroger and U.S. Bank are committed to great customer service and providing customers with the right financial products to meet their needs,” said Kathy Kelly, president of Kroger Personal Finance. “Together with U.S. Bank, Kroger Personal Finance is excited to continue developing new, innovative financial products and services for our customers.”
As part of the alliance, U.S. Bank has purchased Kroger’s existing credit card portfolio from RBS Citizens N.A., and plans to offer additional financial services for Kroger customers. Kroger is a large, well-known brand with strong customer loyalty, which U.S. Bank officials say creates an ideal platform to introduce innovative payments products and financial services.
The alliance is an expansion of U.S. Bank’s extensive financial services relationship with Kroger, which began in 1930. U.S. Bank provides retail, corporate banking, trust, capital markets and credit services for Kroger. U.S. Bank operates bank branches in 192 of Kroger’s nearly 2,500 locations through an in-store banking relationship.
The nation’s largest traditional grocery retailer, Cincinnati-based Kroger operates roughly 2,500 stores in 31 states. Kroger Personal Finance offers customers personal finance products and services, including credit cards, gift and prepaid cards, insurance, ID theft protection and in-store money services such as check cashing, Coinstar and Western Union.