Diversity, inclusion, and our commitment to change
Posted on: Jul 14, 2022
There’s plenty of good discussion taking place around the nation about diversity and inclusion. Gone are the days of organizations, communities, or any other group, reaching true success with all like-minded and like-experienced individuals.
Where there is diversity, there is also innovation, ideas, empathy, talent and so much more. When there is inclusivity, there is an environment where differences thrive, and success is reached faster and with more vigor than ever before.
We truly are better together.
At Stearns Bank, we’re embracing this notion with more vigor than ever before to ensure equitable outcomes for the entrepreneurs, business owners, individuals, families, and communities we service across the nation.
Racism and other forms of bias will not be overcome by one person, one business, or one institution of government. But there are ways to make a difference.
Stearns Bank is taking action, in a variety of ways, specifically with a commitment to expanding access to capital and other banking services to minority communities; reaching the underbanked with growing partnerships created through Project REACh and with Minority Depository Institutions. Our expanding account options will also soon include faith-based financing options.
Here’s a sampling of our latest developments:
Welcome, Mohamed Farah!
Earlier this year, Mohamad Farah, Community Development Coordinator and African Development Center Liaison, joined the Stearns Bank team.
Mohamed will lead Stearns Bank’s efforts to support the success of the African Development Center and its mission to grow business, build wealth, and increase reinvestment in the African communities of Minnesota.
Project REACh and Minority Depository Institutions
A partnership with the OCC’s Project REACh (Roundtable for Economic Access and Change) puts into action our commitment to support full, fair participation in the nation’s banking system and the expansion of access to credit and capital for all.
No single bank can do everything for everyone, but when we partner with others, such as the Bank of Whittier and Southwestern Bank, the possibilities are endless.
About Stearns Bank N.A.
Minnesota-based Stearns Bank National Association is a $2.4 billion, independently-owned financial institution with locations in Minnesota, Florida and Arizona, and over 35,000 small business customers nationwide, in every state across the U.S. Recognized as having a bullet-proof balance sheet with 20% capital and earning top rankings as one of the nation’s highest-performing banks by American Banker, and most recently ranked ninth in the U.S. among banks having more than $1 billion in assets by Independent Banker’s May 2021 Best of the Best ranking of banks with the highest 3-year average Return on Assets, Stearns Bank specializes in nationwide commercial construction lending, USDA and SBA lending, and small business and equipment financing. Driven by a passion to help others achieve their greatest ambitions, Stearns Bank mission is to Get the Job Done! For more information, visit StearnsBank.com.