Stearns Bank Celebrates One-Year Anniversary of Nonprofit Banking Solutions
Posted on: Sep 05, 2024
St. Cloud, Minn. (September 5, 2023) – Stearns Bank N.A. recently celebrated the one-year anniversary of its Nonprofit Banking Solutions being available to nonprofit organizations nationwide. After a year on the market, the Nonprofit Banking Solutions, a suite of customized banking services and financing options, have helped nonprofit organizations specifically meet their unique financial needs, challenges and goals.
“In today’s ever-changing economic landscape, we’re honored that national, regional and local Minnesota nonprofits have trusted and chosen Stearns Bank as their strategic financial banking partner,” said Jane Litchy, VP, Director of Banking Relationships & Nonprofit Solutions at Stearns Bank. “Our Nonprofit Banking Solutions ensure that every nonprofit organization–regardless of size, industry or geographic location—can access industry-leading services that help them not only meet their most immediate financial needs, but plan for long-term successes and achievements.”
In just one year, more than 160 nonprofit organizations across the country have utilized the new Nonprofit Banking Solutions to completely reimagine and redesign their banking processes. From driving product innovation efforts to streamlining internal financial control systems, nonprofit organizations have been able to leverage a suite of financial services designed with them at the center. Stearns Bank looks forward to growing this key customer base heading into 2025 and continuing to provide best-in-class customer service, experience and support to every nonprofit customer.
Additionally, Stearns Bank will also begin fulfilling its initial commitment of donating $1,000 to those nonprofit organizations that have had one or more active Nonprofit Banking Solutions accounts for a full 12 months. Stearns Bank anticipates that additional donations will be made on a rolling basis as more Nonprofit Banking Solutions customers cross the 12-month active account threshold and requirements.
“Habitat for Humanity South Sarasota is incredibly grateful for our partnership with Stearns Bank. Their commitment to nonprofits and their understanding of our unique challenges makes them a trusted partner,” said Christina McCauley, CEO of Habitat for Humanity South Sarasota County. “We recommend their Nonprofit Banking Solutions services to any organization looking to enhance their financial efficiency. The personalized service and understanding of nonprofit needs have helped us to optimize our resources and focus on our mission of providing affordable housing.”
“For 13 years Stearns Bank has supported the Central MN Habitat for Humanity mission in many ways. They service our homeowners’ mortgages, provide mortgage and loan expertise, create mortgage documents, handle our regular banking needs, make monetary donations, serve on our Board, and volunteer on our build sites,” said Chad Bouley, Executive Director of the Central Minnesota Habitat for Humanity. “Stearns’ Nonprofit Banking Solutions program is yet another example of their support. Utilizing their interest-bearing checking account has far outpaced our previous short-term investment options, while maintaining our needed operational liquidity. We are so thankful for all Stearns Bank does to support us and even more importantly, the families we serve!”
Among the many features offered with Stearns Bank’s Nonprofit Banking Solutions are unique financing options, customized credit cards, and high-yield interest-bearing deposit accounts. With a wide range of free services, nonprofits achieve substantial savings and can customize their debit cards with the nonprofit name and logo. Stearns Bank’s special nonprofit accounts also feature free unlimited mobile deposits, free checks, unlimited same-day and next-day ACH origination, free unlimited incoming wires, one free outgoing wire per day, free international wires (five free international wires per month) and more. There are also no minimum balance requirements, no hidden fees, no maintenance fees and no inactivity fees.
For nonprofit customers interested in learning more about Stearns Bank or the Nonprofit Banking Solutions, please visit stearnsbank.com/nonprofitbankingsolutions.
About Stearns Bank N.A.
Minnesota-based Stearns Bank National Association is a $3.1 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 25% capital and earning top rankings as one of the nation’s highest-performing banks by American Banker, and most recently ranked fourth in the U.S. among banks having more than $1 billion in assets by Independent Banker’s 2023 Best of the Best ranking of banks with the highest 3-year average Return on Assets, Stearns Bank specializes in nationwide affordable housing, workforce and multifamily housing, commercial construction lending, build-to-suit and CRE-repositioning lending, family office and lender financing, USDA and SBA lending, and small business and equipment financing. Driven by a passion to help others achieve their greatest ambitions, Stearns Bank’s mission is to Get the Job Done!
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