U.S. Bank offices headed for stores

Thursday, Feb. 29, 1996 | 11:59 a.m.

U.S. Bank will team with Boise, Idaho-based Albertson's to create another bank-grocery store partnering arrangement.

U.S. Bank and Albertson's announced an agreement that will result in the addition over the next four years of as many as 170 U.S. Bank Financial Markets in Albertson's stores throughout the West.

The bank plans to open more than 40 this year, including 16 in Nevada, about 10 each in Washington and Oregon and at least four in Idaho.

When the plan is fully implemented at the end of next year, it will increase U.S. Bank branches in Nevada from the current 26 to more than 60, said U.S. Bank of Nevada spokeswoman Dotti Loader.

This year, it will mean 10 new branches in Southern Nevada, nearly double the current level of 12 branches, she said.

Wells Fargo spokeswoman Janet Otsuki said she wasn't sure if the arrangement with Lucky would continue with the planned merger of Wells Fargo and First Interstate. But Wells Fargo currently has branch locations in several supermarket chains, including Lucky, and "our strategy is still to expand our supermarket branch locations," Otsuki said.

U.S. Bank's new locations will range in size between 60 and 450 square feet. Consumer and commercial customers will be able to conduct the same banking as they would at any U.S. Bank branch. New branches also will feature 24-hour customer service telephones and ATMs.

"Our long-term goal is to include a bank branch in every store where possible," said Michael Read, a spokesman for Albertson's. "With U.S. Bank's strength in six Western states, we've found a great partner for this part of the country."

U.S. Bank has a long-standing relationship with Albertson's which began in 1987 with the placement of ATMs in Albertson's stores in Oregon and Washington. Attracted by its retail success, U.S. Bank began exploring in-store banking with Albertson's in 1994.

Supermarket banking hours range from 9 a.m. to 8 p.m., Monday through Friday, 9 a.m. to 5 p.m. Saturday and from 11 a.m. to 3 p.m. on Sunday.

Albertson's Inc. is the nation's fourth largest grocery and drug retailer, operating 765 stores in 19 Western, Midwestern and Southern states and employing more than 80,000. Albertson's has 17 stores in Southern Nevada.

The move is the latest in a series of partnering arrangements in Southern Nevada. Bank of America is located inside Von's stores, Nevada State Bank is in Smith's Food & Drug Centers and First Interstate Bank is in Lucky. /endstory