Minnwest Bank : Supporting the Dreams of the Redwood Community
Wednesday, October 02, 2019
Redwood County’s Minnwest Bank is one of Minnesota's largest banks. Despite its widespread growth, it keeps its small-town spirit and willingness to listen to and support patrons. The family-owned bank has grown to 33 locations and more than $1.9 billion in assets. It is now considered the second largest Ag lender in Minnesota. Minnwest knows that the support of the local community is the reason it thrives, and it aims to give back.
Minnwest Bank Builds Relationships and Gives Back to the Community
Building relationships has always been a key component of Minnwest Bank’s business platform. They strive to build long term commitments to customers in order to better support the dreams and goals of the local farm and business community.
Sherri Schueller, Sr. Commercial Banker of Minnwest Bank and Treasurer of Redwood Area Development Corporation, spoke to us about the positive impact Minnwest Bank has had on the community.
“Minnwest Bank’s support of the community comes in a variety of forms, including volunteer work hours, philanthropic giving, corporate programs and educational events with a focus on the underserved and underprivileged, including contributing to child welfare and child education,” says Schueller.
She continues, “In 2018 alone, $313,077 was contributed in corporate giving, 738 volunteer hours were performed under our employee program and 150 organizations were served.”
Minnwest Bank Grew From a Desire to Help the Community Thrive
Minnwest Bank was established in 1987 by M. D. “Pete” McVay. It was founded during the Farm Crisis, a period of economic decline in Minnesota that bankrupted many farms from 1979-1987. As the McVay family recognized how important a community bank is for a region to thrive, they developed a better, more community-oriented bank. The family-owned business is still lead by a family member, Todd McVay, Chairman and CEO. The current Bank President is Doug Karsky who is based out of Redwood Falls.
In addition to making “giving back” to the community a priority, the Minnwest Bank, headquartered in our own Redwood Falls, employs 390 people. It is a vital employer for the region.
While Minnwest Bank is always looking for more ways to support the community monetarily and through volunteer programs, the company also strives to make loans more accessible.
“Minnwest Bank responds to community requests with flexibility, creativity, and a commitment to serve their needs, and by extension, to serve our communities,” Schueller remarks.
She continues, “The bank is a family-owned business operation that’s big enough to get large deals done and small enough to truly listen to and work with customers to help them achieve their individual goals.”
Minnwest Bank is one of the many businesses in Redwood County working to improve the community by building lasting relationships. To learn more about the bank, visit www.minnwestbank.com or find it in our business directory.