New personal lending product expands alliance between U.S. Bank and State Farm
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," said 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 private party 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."
About State Farm:
For over 100 years, the mission of State Farm has been to help people manage the risks of everyday life, recover from the unexpected and realize their dreams. State Farm and its affiliates are the largest providers of auto and home insurance in the United States. Its more than 19,400 agents and 67,000 employees serve over 91 million policies and accounts – including auto, fire, life, health, commercial policies and financial services accounts. Commercial auto insurance, along with coverage for renters, business owners, boats and motorcycles, is also available. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No. 39 on the 2024 Fortune 500 list of largest companies. For more information, please visit http://www.statefarm.com.
About U.S. Bank:
U.S. Bancorp, with more than 70,000 employees and $678 billion in assets as of December 31, 2024, is the parent company of U.S. Bank National Association. Headquartered in Minneapolis, the company serves millions of customers locally, nationally and globally through a diversified mix of businesses including consumer banking, business banking, commercial banking, institutional banking, payments and wealth management. U.S. Bancorp has been recognized for its approach to digital innovation, community partnerships and customer service, including being named one of the 2025 World's Most Ethical Companies and one of Fortune's most admired superregional banks. To learn more, please visit the U.S. Bancorp website at usbank.com and click on "About Us."
Disclosures: U.S. Bank will consider your credit score, debt-to-income, credit history, U.S. Bank and Alliance relationship, along with other factors when making underwriting decisions. Loans and lines of credit are offered by U.S. Bank National Association and are subject to normal credit approval and program guidelines. Deposit products offered by U.S. Bank National Association. Member FDIC.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250326452778/en/
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