June 4, 2024
Sunrise Banks, a socially responsible bank based in St. Paul, Minnesota, celebrated the grand opening of its first retail bank branch in South Dakota on Monday, June 3. Local customers can now open savings, checking, CDs and other accounts. Sunrise Banks will also offer mortgages, business loans and other services designed to empower financial wellness.
The branch, located at 5015 S. Crossing Pl. in Sioux Falls, is the first Sunrise Banks retail location outside the state of Minnesota. It joins the bank’s offices for National Products and Financial Technology (fintech), which have operated in the Sioux Falls area for more than a decade.
Sunrise Banks received approval to relocate its bank charter from Minnesota to South Dakota in late 2023, allowing the bank to open this new location.
“Sunrise Banks is excited to expand its presence in Sioux Falls,” says David Reiling, President/CEO of Sunrise Banks. “With our new retail branch, we’re bringing innovative banking solutions to this vibrant region, along with a commitment to social responsibility and a dedication to environmental sustainability.”
“Sioux Falls is a growing, progressive community with many opportunities for customers and businesses to thrive,” says Damon Sehr, Market President for Sioux Falls at Sunrise Banks. “We feel there’s a lot of correlation between those factors and our own mission and values at Sunrise Banks. We believe our team will work well with local customers and organizations to build strong relationships and drive positive change in the community.”
With its move to South Dakota, Sunrise Banks brings some unique business designations to the state. It is the first and only certified B Corp operating in South Dakota. Sunrise Banks is also the only Community Development Financial Institution (CDFI) bank in either South Dakota or Minnesota. Reiling also chairs the Global Alliance for Banking on Values, a coalition of more than 70 mission-based banks working to create sustainable economic, social and environmental development worldwide.
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.
