September 23, 2020
(St. Paul, Minn. | Sept. 23, 2020) — Sunrise Banks has received a $202,898 Bank Enterprise Award (BEA).
The BEA program provides monetary awards to FDIC-insured depository institutions that have increased their lending, investing, or service activities in the most economically distressed local communities.
Award proceeds are then reinvested back into the distressed communities, which helps accelerate the growth of businesses, job creation, development of affordable housing, and availability of financial services.
The BEA is funded by the Community Development Financial Institution (CDFI) Fund. Sunrise Banks will use the allocation to continue investing in low-income neighborhoods in the Twin Cities.
“We’re grateful to again receive a BEA award and look forward to investing these funds in our local communities that need them the most,” said Sunrise Banks CEO David Reiling.
The CDFI Fund awarded $25.2 million in BEA Program awards in fiscal year 2020. Sunrise Banks is one of 138 award recipients.
Visit the CDFI Fund’s website Off Site Link to see a full list of this year’s BEA program recipients.
About Sunrise Banks: Sunrise Banks, N.A., based in St. Paul, Minnesota, strives to be the most innovative bank empowering financial wellness. Sunrise 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, a public benefit corporation and a certified B Corp for its demonstrated commitment to transparent corporate governance and positive community impact. Learn more at SunriseBanks.com, on Twitter @SunriseBanks, or on Facebook. Member FDIC.