July 9, 2024

Sunrise Banks, a socially responsible bank based in St. Paul, Minnesota, today launched Net Zero Deposits. This new offering allows customers to designate their checking, savings or CD accounts for projects that reduce or avoid carbon emissions. It is available for both personal and business banking customers.

Net Zero Deposits are part of a suite of new banking options for both personal and business banking customers. Sunrise Banks also offers Net Zero Financing loans for business customers interested in completing projects such as:

• Energy reduction or efficiency upgrades.

• Renewable or clean energy installations.

• Green building construction that meets national/international standards.

• Electric or hybrid vehicles.

“At Sunrise Banks, we take our commitment to environmental responsibility seriously. We work to reduce our carbon footprint through the types of loans and investments we make,” says David Reiling, President/CEO of Sunrise Banks. “Net Zero Deposits are truly unique because they give customers the ability to channel the dollars they deposit with us towards projects that can have a direct, positive impact on climate change.”

“Net Zero Deposits are designed to build climate-resilient communities and support the transition to a net zero economy,” says Laura Wildenborg, Vice President of Strategic Lending at Sunrise Banks. “Most people don’t realize their bank account may be funding significant sources of carbon emissions. Our goal at Sunrise Banks is to be transparent about the types of projects we fund so we can reach our goal of net zero emissions by the year 2050.”

Customers interested in joining the Net Zero Deposits program at Sunrise Banks can visit any of our five branches in Minneapolis, St. Paul or Sioux Falls, S.D. and talk to a member of our retail banking team or learn more at sunrisebanks.com/net-zero-financing.

Net Zero Banking in Action: Firefly at LynLake

Sunrise Banks customers Adam Jonas and Jay Rajaratnam are the development team behind Firefly at LynLake, a new multi-family housing complex in south Minneapolis that is a certified Department of Energy Zero Ready Home. That means the building is so energy efficient that it has the potential to generate as much energy as it consumes through renewable energy.

Sunrise Banks provided a $1.75 million net zero construction loan for the Firefly project. Jonas and Rajaratnam are also some of the first business participants in the Net Zero Deposits program at Sunrise Banks. Click here to read more about their story.

ABOUT SUNRISE BANKS

Sunrise Banks is no ordinary bank; we strive to be a place where money and values meet for our customers and our communities. We do this by prioritizing social responsibility, community impact and environmental sustainability alongside our essential financial products and services. With locations in Minneapolis/St. Paul, Minnesota and Sioux Falls, South Dakota, Sunrise Banks seeks to build meaningful relationships, empower financial wellness and drive positive change.

Sunrise Banks is certified by the U.S. Treasury as a Community Development Financial Institution (CDFI), a designation earned by approximately 100 banks nationwide. Sunrise Banks is also a member of the Global Alliance for Banking on Values and a certified B Corp for its demonstrated commitment to transparent corporate governance and positive community impact.

Member FDIC