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EUREKA, Mo. -- Schnuck Markets, Inc. is banking on a rollout of in-store, full service banks in more than two dozen stores by early next year.
The chain is opening the first U.S. Bank in a new store here, on Aug. 30. Another 25 U.S. Bank offices are slated to go into Schnuck's units throughout the St. Louis area, the partners said.
"We are always looking for ways to give our customers added value and convenience and the U.S. Bank partnership will help us accommodate the needs of our shared customers," Lori Willis, Schnuck's dir. of communication told Progressive Grocer. "U.S. Bank is a strong partner and has and outstanding record of being committed to quality customer service."
The Schnuck's deal is integral to the bank's own growth strategy as well. "We are a dominant player in St. Louis, and will only continue to grow," said Joe Imbs, U.S. Bank St. Louis market president, adding that the metro area will soon be home to 100 branches as well as approximately 300 ATMs.
The hours of the new U.S. Bank office inside Schnucks are Monday through Friday from 10:00 a.m. to 7:00 p.m., Saturday from 10:00 a.m. to 4:00 p.m. and Sunday from 11:00 a.m. until 3:00 p.m.
"Providing them access to their bank at extended weekday and weekend hours helps to add to the full-service appeal of our combination food and drug stores," said Willis. "Saturday and Sunday are typically our biggest grocery shopping days, because, of course, that's when our customers have the most free time available. Many people choose to maximize their time by handling a variety of errands all in one convenient location, and thanks to U.S. Bank and other banking partners in the various communities, that's what Schnucks is able to provide."
The in-store bank will also include a Super ATM that sells postage stamps and phone cards in addition to handling banking transactions.
Founded in St. Louis in 1939, Schnuck Markets, Inc. operates 103 stores (including five Logli stores) and 98 pharmacies in Missouri, Illinois, Indiana, Wisconsin, Tennessee, Mississippi, and Iowa.
U.S. Bancorp, the parent company to U.S. Bank, is the 6th largest financial holding company in the United States with $204 billion in assets. The company operates 2,383 banking offices and 4,877 ATMs in 24 states, and provides a line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions.
-- Joseph Tarnowski