March 27, 2012
Sunrise Community Banks, a family-owned banking group consisting of the Twin Cities’ Franklin Bank, Park Midway Bank and University Bank, was selected as a 2012 Community Reinvestment Award winner in the lending category at the National Interagency Community Reinvestment Conference.
The Community Reinvestment Awards recognize financial institutions that advance innovative solutions for lower-income communities. Two of Sunrise Community Banks’ initiatives,The Socially Responsible Deposit Fund and the New Markets Tax Credit Loan Program, were key in earning this award for their focus on lending in the urban core of Minneapolis and St. Paul.
“Sunrise Community Banks has consistently been one of the top banks in partnering with the City of Minneapolis to support small businesses,” said Bob Lind, business finance director for the City of Minneapolis.
Sunrise customers may direct their deposits to fund affordable housing, small business development and community services through the Socially Responsible Deposit Fund. Led by Park Midway Bank, the New Markets Tax Credit Loan Program was established through a $25 million award from the U.S. Department of the Treasury to encourage investment in economically distressed communities throughout the Twin Cities.
“We are thrilled to be recognized for caring for our communities, which is at the center of our organizational mission,” said Nikki Foster, Chief Corporate Responsibility Officer for Sunrise Community Banks. “It is wonderful to be known as a financial organization that improves people’s lives.”
Sunrise Community Banks was selected among 75 nominees and judged on three criteria: effective use of partnerships, flexibility and innovation, and the ability to meet the needs of small businesses. For more information, visit www.sunrisebanks.com.
About Sunrise Banks: Sunrise Banks, N.A., based in St. Paul, Minnesota, seeks to radically change the way urban communities and people thrive by empowering them to achieve 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 is a certified B Corp for its demonstrated commitment to transparent corporate governance and positive community impact. Visit Sunrise Banks at SunriseBanks.com, on Twitter @SunriseBanks, or on Facebook. Member FDIC.