2013 Impact Report Video Transcript
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Logo, Sunrise Banks. Text, Member FDIC.
Who is Sunrise Banks? Sunrise Banks is the most innovative bank empowering the underserved to achieve. Sunrise seeks to radically change the way urban communities and underserved people thrive by empowering them to achieve their aspirations.
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Compassion is our motivation.
Our mission is to empower.
Our spirit is to achieve.
Sunrise is: A certified B corporation . B Corps are certified to meet rigorous standards of social and environmental performance, accountability and transparency. B Corps use the power of business to solve social and environmental problems.
Certified B Corporation, B Corporation.net
Awards, B Corp Best for the World, 2013 Impact, Overall and Community.
Text, We are 1 of 3 B Corp’s in Minnesota. Our B Corp Impact Report Score is 154; Median Score is 80. B Corp Legislation: 20 states have laws passed; 18 (including MN) are working on it.
Global Alliance for banking on values.
We are a member of the Global Alliance for Banking on Values. 25 of the world’s leading sustainable banks.
List of Principles of sustainable banking. Text, All of these principles are embedded in the culture of the bank.
Sunrise is a community development financial institution.
CDFIs have a primary mission of community development, remain accountable to their target market, and provide at least 60% of services in low and moderate-income communities.
Our local community.
Investment area, 258 contiguous census tracts. These tracts have a 22% poverty rate and median family income of 69% of area income.
CDFI investment area unemployment rate is 9.5% versus the state average of 5.3%
35% of Minneapolis households and 33% of Saint Paul households live in asset poverty.
Of the 53 financial institutions in Saint Paul, only 5 are on the Eastside (including Sunrise) and this area boasts 1/3 of the city’s population.
Our work: 71% of our branches are in low and moderate-income communities.
Our work within the CDFI investment area: 81% of our deposits, 67% of our loans, 60% of these are in low-income tracts.
84% of loans are in community reinvestment act assessment area.
20% of all deposit dollars are in socially responsible deposit fund. $116 million in SRDF.
In 2013 the Bank partnered with Lutheran Social Services to offer a financial counseling program to all bank customers, community members and employees.
62% female, 30% minority employee snapshot.
Bank Enterprise Award received $323,000 maximum amount given in the 2013 award round.
New markets tax credits.
$25 million of NMTC allocations were dispersed over 5 deals, including Izzy’s Ice Cream and Habitat for Humanity.
Text, 5 flexible terms and conditions required for each NMTC loan.
Examples of flexible terms include below market interest rates, lower than standard origination fees. List continues.
Izzy’s serves as a model for the industry.
3.5 million NMTC loan to The Gav, a special-purpose entity of Knock, Inc., a minority and women-owned PR firm.
9.5 million NMTC loan for Twin Cities Habitat for Humanity new headquarters, which will have a LEED scorecard of 26.
Giving Back.
$200,000 in corporate donations & sponsorships dispersed in 2013.
Employee Involvement
Volunteered approximately 9,000 hours in 2013. Donated or pledged nearly $11,000 during the 2013 charitable giving week. Prepared 600 snack packs for children at People Serving People. Created working task forces to support La Creche (our adopted childcare center).
2013 Saint Paul Chamber of Commerce Deubener Award Finalist.
As a leader in the prepaid card industry, Sunrise strives to follow the Compass Principles. The Compass Principles are aspirational guidelines that demonstrate how providers can work toward financial services that are safe and actively contribute to improving people’s lives.
The most innovative bank empowering the underserved to achieve.
Logo, Sunrise Banks. Text, Member FDIC.