Originally published at usbank.com. U.S. Bank ranked No. 17 on The Fair360, formerly DiversityInc Top 50 Companies for Diversity list in 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 USBC 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 USBC 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 USBC 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 USBC 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 nearly $200 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.
