Message from David
David Reling
Message from David

We helped thousands of customers improve their financial health through a combination of our fintech partnerships, financial literacy outreach and credit-builder products.

David Reiling
CEO

We helped thousands of customers improve their financial health through a combination of our fintech partnerships, financial literacy outreach and credit-builder products.

David Reling CEO
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Message from David

Message from David

Sunrise Banks has been working to improve the lives of our community members through financial empowerment since we were founded in 1984. In 2021, thanks to your support, we’re still at it more than three decades later.

We were busy in 2021: We hosted the Global Alliance for Banking on Values’ annual meeting in March; supported small businesses through the Paycheck Protection Program; received a $60 million New Markets Tax Credits allocation that will fund community and economic development; and continued our work to track the carbon footprint of our loan portfolio.

We were humbled to be named a Best for the World B Corporation by B Lab for the eighth year in a row as well as being a Minneapolis/St. Paul Business Journal Best Places to Work honoree. But the recognition doesn’t mean nearly as much as our impact: We helped thousands of customers improve their financial health through a combination of our fintech partnerships, financial literacy outreach and credit-builder products.

In addition, we continued our conversations around justice, equity, diversity and inclusion, hosting a town hall on racial equity as well as a conversation with former Minneapolis Police Chief Medaria Arradondo on how to create more equitable policing solutions going forward.

These accomplishments are thanks to your continued support. We know that we don’t succeed unless our community does – thank you for being a partner in 2021. I look forward to what we can achieve in 2022 and beyond.

Sincerely,

David Reiling

132

Families

We helped 132 families purchase a home in 2021. Of those families, 48% purchased a home through our Open Door Mortgage Program, an alternative lending program that helps clients who would not qualify for a traditional mortgage, including those with Individual Taxpayer Identification Numbers (ITINs), reach their dreams of homeownership.

1,945

PPP Loans

Sunrise Banks originated 1,945 Paycheck Protection Program loans for $135,473,640 in 2021, with roughly 76% of loans under $50,000.

116

Customers

In 2021, 116 customers signed up for 199 FAIR accounts. Financial Access in Reach (FAIR) is a package of products built in partnership with Prepare + Prosper that provides checking, savings and credit-builder accounts to people in underserved communities.

406

GABV

In March of 2021, Sunrise hosted the Global Alliance for Banking on Values annual meeting. The virtual event hosted 406 attendees from 70 different countries and 65 global financial institutions.

250

Students

Twin Cities Road Crew offers both in-person and online financial literacy programs specifically for low- to moderate-income, urban and Minneapolis/St. Paul students. In 2021, this partnership reached nearly 250 teachers and 3,000 students.

Who We Are

Employee
Demographics

282 total
56 percent
Female
96 percent More than 96% of our full-time employees are paid a livable salary according to Hennepin County (MN) standards.
80 percent More than 80% of Sunrise employees worked remotely in 2021.
53 percent More than 53% of Sunrise company managers identify as female.
30 Sunrise has 30 employees serving on local nonprofit or community boards.
19 Sunrise added 19 new positions in 2021.

We Speak the
Following Languages

  • Afrikaans
  • Amharic
  • ASL
  • English
  • English Creole
  • French
  • German
  • Greek
  • Hindi
  • Hmong
  • Maithili
  • Malayalam
  • Mandarin
  • Nepali
  • Oromo
  • Spanish
  • Swedish
  • Tamil
  • Vietnamese
  • Yoruba
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Sunny Award Winner

Meet Our 2021 Sunny Award Winner

Tristian joined Sunrise in 2019 and started as an IT services specialist at the bank. He has been an incredible help to employees as they work remotely, always willing to assist when technical issues arise. Tristian has been an integral part of the bank’s success employing a hybrid work environment, with employees working on-site and at home.

Here’s what a fellow employee had to say about Tristian:

“Tristian takes ownership and responsibility on our team. He goes the extra mile for each customer, every day. He’s good at listening, understanding, and treating each customer with the respect that they deserve. I’m proud to work with him!”

Congrats, Tristian!

Awards and Recognitions

Awards and Recognitions
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Affiliations

Sunrise Banks was named a Best for the World™ B Corporation in 2021, ranking the bank in the top five percent of all B Corporations of similar size worldwide. The award, which Sunrise received for the eighth year in a row, honors companies for their sustainable business practices. Sunrise was honored for its work to create a more financially and environmentally sustainable banking sector.

Sunrise Banks has been a Certified B Corporation since 2009 and was recertified in 2020. Sunrise Banks scored a 144.2 during its recertification process; this is two points higher than the bank's 2019 score and considerably higher than the average B Corporation score of 90.9.

B Corporations are businesses that balance profit and purpose and have demonstrated a commitment to corporate governance, transparency and sustainability.

There are more than 4,000 Certified B Corporations located across 70 countries and 150 industries.

Community Development Financial Institution

Sunrise Banks is the only Community Development Financial Institution (CDFI) bank in Minnesota. CDFIs are dedicated to community development and provide financial products and services that meet the needs of economically disadvantaged individuals within underserved communities.

390 million
In 2021, more than $390 million of new loans were originated in CDFI-eligible, low- to moderate-income census tracts nationally.

Sunrise Banks has been a member of the Global Alliance for Banking on Values (GABV) since 2013.

Collectively, the GABV serves more than
60 million customers, holds up to $200 billion of combined assets under management, and is supported by more than 80,000 coworkers.

The GABV works to create sustainable economic, social and environmental development. It has spearheaded initiatives like the Climate Change Commitment, which asks member banks to measure the carbon footprint of their financed emissions. The GABV is made up of mission-based banks intent on making the financial system more accessible for traditionally underbanked consumers.

Sunrise Banks CEO David Reiling was named chair of the GABV in March of 2021. Sunrise also hosted the GABV’s annual meeting in 2021.

GABV
Virtual Meeting

In March of 2021, Sunrise hosted the Global Alliance for Banking on Values annual meeting.

406

Attendees

70

Different Countries

54

Global Financial Institutions

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GABV Meeting

GABV Meeting

In March of 2021, Sunrise hosted the Global Alliance for Banking on Values annual meeting. The virtual event hosted 406 attendees from 70 different countries and 65 global financial institutions.

The meeting ran consecutively for two days straight to accommodate numerous different time zones and gave Sunrise the opportunity to showcase the bank’s work as a Community Development Financial Institution.

The event featured sessions from the likes of Dr. Johan Rockström, a globally renowned sustainability expert, and former Minnesota Secretary of State Mark Ritchie, among others. Topics discussed included addressing the climate crisis, banks’ role in promoting reconciliation in a divided world and fintech’s ability to foster greater economic inclusion.  

New Market Tax Credit

Driving Economic Development

New Market Tax Credit

The New Markets Tax Credits (NMTC) program allows Community Development Entities (CDEs) to apply for tax credit allocations through the Community Development Financial Institutions (CDFI) Fund. Sunrise Banks has been involved in the NMTC program as a CDE since 2013 and has been awarded $303 million in federal allocations.

Seward Co‑op

Seward is the oldest grocery co-op in the Twin Cities and operates two locations, and Seward's members - those who shop at the store - own the business.

The Friendship Store's new building was funded by NMTC financing from Sunrise Banks and the Midwest Minnesota Community Development Corporation.

“We are proud and grateful to have been able to put this allocation to good use. The project created accessible, quality jobs and has ensured access to healthy food for a distressed neighborhood,” - Mary Stoick, Sunrise Banks VP of NMTC

Community Impact

Rehabilitated a 20,020 square foot commercial space

100% of full-time employees earn a living wage (per Minneapolis standards)

Hire staff who reflect the neighborhoods in which they operate

  • Reside within walking or biking distance
  • Diversity of staff
  • Multilingual employees

Sustainable business practices

  • 80% of waste is recycled or composted
  • 35% of the co-op building’s energy usage outperforms building code standards

Dedicated giving-back programming through donations and volunteerism

  • Customers can round up transactions to donate back to the community
  • 275 hours of paid volunteer time for employee community service
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New Market Tax Credit

Seward Co-op

Sean Doyle has been Seward Co-op’s general manager since 2004. But his experience with the store dates back more than three decades.

Doyle was introduced to the cooperative when his then partner and now wife got a job there in 1989, when the couple moved to Minneapolis from Wisconsin. But it wasn’t just the idea of fresh produce and locally sourced meat that intrigued Doyle.

“It was very much aligned with my personal values,” said Doyle. “I didn’t want to have my life energy going into the pockets of the haves.”

Seward is the oldest co-op in the Twin Cities and has a store on Franklin Avenue in addition to its Friendship Store, located on East 38th Street. Under the cooperative model, Seward’s members – those who shop at the store – own the business and have a say in its operations.

Cooperatives became popular in the early 1970s and represented an alternative to corporate America’s grocery store chains. The movement was a radical one, and at times, tensions between cooperatives became high during the so-called “co-op wars.”

Seward, for example, was forcibly taken over in 1976 by the Co-op Organization (CO), a group of activists who believed in using the store for social reform instead of just selling natural foods. The CO was also suspected of throwing a Molotov cocktail into one cooperative and firebombing a delivery truck.

The Seward Co-op is one of the only food cooperatives in the Twin Cities that survived those turbulent times.

Today, while much has changed, the founding ethos of the cooperative model and consumer ownership remains.

“My hope and desire and dream is that this is a way forward to operate in a market economy that isn’t driven by capitalism, but by community wealth and community ownership,” said Doyle.

Driving Economic Development

Seward completed work on its Friendship Store in 2015, in large part with funding from the New Markets Tax Credits (NMTC) program, an economic development initiative managed by the U.S. Treasury.

The NMTC program allows Community Development Entities (CDEs) to apply for tax credit allocations through the Community Development Financial Institutions (CDFI) Fund. If a CDE receives an allocation, it can then sell those tax credits to investors and put sale proceeds towards economic development in low-income areas.

Sunrise Banks has been involved in the NMTC program as a CDE since 2013 and has been awarded $303 million in federal allocations to date.

The NMTC program is intended to bolster economic development in low-income communities. It looks to drive positive community impacts such as job creation, commercial goods and services, community services, food desert elimination and environmentally sustainable outcomes.

According to the U.S. Treasury, the NMTC program has created or retained more than 830,000 jobs; in addition, almost 75% of investments have been made in highly distressed areas.

The Friendship Store is located in what the U.S. Department of Agriculture deems a food desert. Building the store, which offers locally sourced and healthy foods, provided more food security in the neighborhood.

Seward’s Friendship Store is a 20,020 square foot building located at 317 East 38th St. in Minneapolis. The building was funded by NMTC financing from Sunrise Banks and the Midwest Minnesota Community Development Corporation. The NMTC transaction successfully unwound in 2021.

“We are proud and grateful to have been able to put this allocation to good use for Seward Co-op and their surrounding community. The project created accessible, quality jobs and has ensured access to healthy food for a distressed neighborhood,” said Sunrise Banks VP of New Markets Tax Credits Mary Stoick. “Impacts like these are at the heart of the mission of both the NMTC Program and Sunrise Banks.”

Locations

6 company locations
4 retail banking locations, 2 located in low-to moderate-income census tactics
1 HQ office in St. Paul
1 Fintech Partnership division
Environment

Small changes can make a big impact.

Public Transit Advocates

All Sunrise Banks branch locations are accessible by public transportation.

Energy Efficient Locations

100% of Sunrise Banks-owned locations have LED lights installed throughout their buildings.

Promise to Our Planet

Awards and Recognitions
Addressing climate change continues to be a priority for Sunrise Banks.

In 2019, the bank committed to measuring the carbon footprint of its loan portfolio through the Partnership for Carbon Accounting Financials (PCAF). The commitment was made with other banks from the Global Alliance for Banking on Values, an international alliance of financial institutions looking to create more socially responsible outcomes in the banking sector.

PCAF’s system measures and discloses the greenhouse gas emissions of six different asset classes: Listed equity and corporate bonds; business loans and unlisted equity; project finance; commercial real estate; mortgages; and motor vehicle loans. The idea is that by tracking, and in some instances cutting, the emissions of their clients and investments, financial institutions can act as better stewards of the environment.

Overall Loan Portfolio

$1,102 total (in millions)
values in Millions
(12/31/2021)

Overall Loan Portfolio

$1,102 total (in millions)
Small
Business
189.6
Small
Business
189.6
Economic
Development
83.6
PPP
Loans
80.8
Community
Services
47.7
Construction 61.5
Affordable
Housing
28.0
Health/Wellness 7.3
Arts/Culture 7.4
Education 15.4
Consumer 113.5
Other Business/Real Estate 467.7
Sunrise banks loan portfolio as of Dec. 31, 2021. Dollar Amounts in Millions

Credit Builder Program

0

Good credit is a vital piece of financial wellness. Having no credit –or bad credit –restricts one’s access to loans, credit cards, leases and more.

That’s why Sunrise Banks offers products like Credit Builder accounts, which help customers build credit by establishing a strong payment history while also building up their savings. Sunrise offers these loans directly to consumers.

In 2021, 579 new Sunrise Credit Builder loans were opened, with an average loan size of $668.

0

Prepare + Prosper and FAIRPrepare + Prosper and FAIR

Financial Access in Reach (FAIR) is a package of products built in partnership with Prepare + Prosper that provides checking, savings and credit-builder accounts to people in underserved communities. The FAIR products are built with customers’ specific needs in mind, no matter income size or banking history. These products offer consumers the tools and support necessary to take control of their financial wellness.

Since its launch, FAIR has enrolled more than 424 consumers into 664 accounts. In 2021, 116 customers signed up for 199 FAIR accounts. At the time of enrollment, 84% of FAIR customers are either unbanked or underbanked.

Fintech Partnerships

Sunrise Banks' fintech partnerships division helps provide consumers access to affordable and convenient financial products and services. Fintech - short for financial technology - has the ability to streamline processes for customers and bridge gaps in access.

TrueConnect provides a responsibly structured loan alternative to payday loans.

400 percent
6,575
400 percent

The APR on a payday loan can be as high as 400% - an exorbitant interest rate that's not feasible for low-income consumers. Instead, payday loans can create a vicious cycle of poverty.

6,575

In 2021, Sunrise helped originate 6,575 TrueConnect loans for a total of $14.7 million. The average loan size was $2,235.

Self offers small Credit Builder accounts for people with poor credit who want to rebuild their payment history. Self is also a helpful tool for those who have no credit history but would rather not open a credit card account.

In 2021, Sunrise helped originate 262,995 Self Credit Builder loans for a total of $189.9 million. The average loan size was $722.

Gusto's Cashout product allows employees to access their payroll in advance of payday and offers up to two payday advances a month direct from their paycheck, upon qualification.

In 2021, Sunrise helped originate 240,783 Gusto advance-earned-wage loans for a total of $78.1 million. The average loan size was $324.

The financial system is complicated. It can be especially daunting for immigrants, who might encounter linguistic and cultural barriers. Some immigrants also come from countries where banks are corrupt and find it hard to trust financial institutions.

Sunrise partners with Remitly, a financial technology company, to give immigrants better access to financial services. In 2020, Sunrise and Remitly launched Passbook, a digital bank account built to help immigrants enter the U.S. banking system. Passbook is an everyday spending account that offers cash back on international transfers, no foreign transaction fees, and a Visa debit card.

In 2021, Sunrise opened more than 32,000 Passbook accounts holding $1.3 million in balances. In total, Sunrise has 87,511 active Passbook accounts with $3.6 million in balances.

Mortgage Programs

Homeownership helps build wealth and overall financial wellness. It also improves general quality of life. Sunrise Banks offers a diverse array of home mortgage products to promote equity in homeownership and to help everyone –no matter race, background or ethnicity – pursue their dreams of owning a home.

Diversity. Equity. Inclusion.
0 132 families

We helped 132 families purchase a home in 2021. Of those families, 48% purchased a home through our Open Door Mortgage Program, an alternative lending program that helps clients who would not qualify for a traditional mortgage, including those with Individual Taxpayer Identification Numbers (ITINs), reach their dreams of homeownership.

0 248 loans

In 2021, Sunrise Banks closed 248 mortgage loans, including refinances and new purchases.

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Paycheck Protection Program

Paycheck Protection Program

The Paycheck Protection Program (PPP) was an unprecedented federal stimulus program that offered forgivable loans to small businesses affected by the COVID-19 pandemic. While the deadline to apply for a PPP loan was May 31, 2021, the program’s forgiveness process is still in full swing.

Sunrise Banks originated 1,945 PPP loans for $135,473,640 in 2021, with roughly 76% of loans under $50,000. In 2020, the bank processed nearly 2,000 PPP loans with roughly 65% of these loans being under $50,000; in addition, approximately 45% of these loans were originated in CDFI-certified, low- and moderate-income census tracts.

PPP was responsible for keeping thousands of businesses alive during the pandemic.

 

“Thank you SO much!! I am crying tears of relief at receiving this message!! This means my team and I can keep our jobs and health insurance!”

“I want to thank you soooo much for your tireless efforts in helping to save my business!!”

“Thank you so much for your work on the PPP loan. I cannot begin to tell you how big of a difference this will make in our business and in the lives of our employees.”

 

Business Breakfast

Sunrise Banks' mission is to empower financial wellness - but we've also been strong advocates of equity and inclusion from the beginning.

In 2021, the bank welcomed former Minneapolis Police Chief Medaria Arradondo to speak on the state of policing and race relations in Minnesota's largest city. We also had world-renowned epidemiologist Dr. Michael Osterholm and University of Minnesota President Joan Gabel speak to the bank about the future of the pandemic.

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Business Breakfast

Business Breakfasts: Former Minneapolis Police Chief Medaria Arradondo, Dr. Michael Osterholm and University of Minnesota President Joan Gabel

The past year was replete with unprecedented situations and renewed ideas about what it means to live and work well in the 21st century.

But arguably two of the most pervasive issues we faced in 2020 and 2021 were living with a global pandemic and our reckoning with racial injustice. George Floyd’s murder and trial that followed in Minneapolis – and subsequent police-involved killings, including that of Daunte Wright – forced us to acknowledge the glaring inequities within our institutions and scrutinize our preconceived notions of equity and privilege.

Sunrise Banks’ mission is to empower financial wellness – but we’ve also been strong advocates of equity and inclusion from the beginning. After George Floyd’s murder, we organized a town hall on racial equity and, in 2021, the bank welcomed former Minneapolis Police Chief Medaria Arradondo to speak on the state of policing and race relations in Minnesota’s largest city.

We also had world-renowned epidemiologist Dr. Michael Osterholm speak to the bank about the future of the pandemic and vaccine research just before the omicron variant was discovered in South Africa. In February of 2021, University of Minnesota President Joan Gabel spoke to how the state’s biggest university was dealing with the pandemic and ensuring campus safety while continuing to provide a quality college experience for students.

All three presentations offered constructive dialogue among employees and reassurance that we can do difficult things when we work together.

Banking On Change

A 2021 Sunrise Banks Campaign
Featuring the hard work of
local business owners

“We're making tech cool in the Black community.”

Black Tech Talent's main goal is to create more diversity in the technology field. Since Mike Jackson launched the firm in July of 2020, Black Tech Talent has landed contracts with some of the biggest employers in the Twin Cities, including Target and Health Partners.

“It's more than a music academy. It feels like community. It feels like home.”

“Learning music helps folks in all stages of their lives,” said Williams. “That's really what this work is about - it's about helping communities and giving people access to something that we all love (music) and can learn.”

* Illustrations by London-based artist Justine Lecouffe

The past year showcased the perseverance and adaptability of our local businesses. We saw restaurants pivot to better serve customers through delivery and takeout, up-and-coming business owners remain calm among chaos and long-time entrepreneurs navigate the maze of a pandemic and social unrest after the murder of George Floyd.


Banking on Change, a Sunrise Banks campaign that took place in 2021, is dedicated to the hard work of these business owners. The series featured local Black, Indigenous and People of Color (BIPOC) entrepreneurs who are providing vital services to customers while also attaching a sense of purpose to their business models.


Each month’s feature had its own story to tell – whether challenging systemic racism, economic inequality or raising awareness for important issues like domestic violence – and demonstrated the courage and ingenuity that’s so widespread throughout the Twin Cities’ business community.


These features are dedicated to their subjects and all those who worked day in and day out so we could continue to experience the luxury of a vibrant business community in Minneapolis, St. Paul and beyond.


So we say, collectively, to the local business community: Thank You

Banking On Change

A 2021 Sunrise Banks Campaign Featuring the hard work of these business owners

“We’re making tech cool in the Black community”

Mike Jackson’s new company, Black Tech Talent’s main goal is to create more diversity in the technology field and has has landed contracts with some of the biggest employers in the Twin Cities, including Target and Health Partners.

“It’s more than a music academy. It feels like community. It feels like home.”

“Learning music helps folks in all stages of their lives,” said Williams. “That’s really what this work is about – it’s about helping communities and giving people access to something that we all love (music) and can learn.”

* Illustrations by London-based artist Justine Lecouffe

The past year showcased the perseverance and adaptability of our local businesses. We saw restaurants pivot to better serve customers through delivery and takeout, up-and-coming business owners remain calm among chaos and long-time entrepreneurs navigate the maze of a pandemic and social unrest after the murder of George Floyd.


Banking on Change, a Sunrise Banks campaign that took place in 2021, is dedicated to the hard work of these business owners. The series featured local Black, Indigenous and People of Color (BIPOC) entrepreneurs who are providing vital services to customers while also attaching a sense of purpose to their business models.


Each month’s feature had its own story to tell – whether challenging systemic racism, economic inequality or raising awareness for important issues like domestic violence – and demonstrated the courage and ingenuity that’s so widespread throughout the Twin Cities’ business community.


These features are dedicated to their subjects and all those who worked day in and day out so we could continue to experience the luxury of a vibrant business community in Minneapolis, St. Paul and beyond.


So we say, collectively, to the local business community: Thank You
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Banking on Change Story: Mike Jackson

Black Tech Talent: Creating A More Diverse Workforce Through Culturally Relevant Offerings 

Mike Jackson sits on a throne during Zoom meetings.

The chair has a maroon back and golden stiles, creating a pleasant distraction in the oft-drab world of virtual conversations. But given Jackson’s recent success, the seat is also a fitting mirror of his ascent in the start-up realm.

Jackson’s new company, Black Tech Talent, has won multiple awards and gained more than 4,000 members since it launched in July 2020. The company’s small-but-mighty team has landed contracts with some of the biggest employers in the Twin Cities, including Target and Health Partners.

“We’re making tech cool in the Black community,” says Jackson.

Black Tech Talent’s main goal is to create more diversity in the technology field. The company offers a job board and culturally specific content catered to Black workers interested in entering tech as well as training and recruiting services. Black workers make up only 3% of the roughly 200,000 people working in the tech sector locally, according to CompTIA. Jackson adds that of around 900,000 unfilled IT positions, just 4-7% go to Black applicants.

Why do these disparities exist? There are multiple reasons, according to Jackson. But mainly, he says, the problem stems from unconscious bias.

“A lot of these tech companies… they start off with two or three white guys,” says Jackson. “It becomes a referral system in the early stages where everybody looks alike, sounds alike and thinks alike. White people are more willing to take a chance on unqualified white people than they are to take a chance on a qualified Black person.”

As a founder and CEO, Jackson himself is an anomaly: Only 3% of executive positions are held by Black employees at companies with more than 100 workers in the United States.  Just 1% of venture-funded startup founders are Black.

Black Tech Talent relies heavily on content marketing to promote the business, including a podcast that Jackson hosts. Jackson engages in long, deep conversations with his guests, focusing on everything from redlining to DevOps. He invites Black professionals on the show to speak to their work experiences and how to support the Black community. This content, he says, is what sets the business apart.

“It’s like being a fly on the wall during genuine Black conversations,” says Jackson of the podcast. “I discuss the different journeys that different Black technologists have, the good and the bad.”

More than anything, the business represents a step in generating more wealth in the Black community. Data from 2019 states Black households had just 12% the wealth of white households. In addition, in Minnesota, just 24% of Black households own their home compared to 77% of white households.

Jackson saw an opportunity to fight these disparities when he started Black Tech Talent. His background as an entrepreneur gives him an advantage, he says.

“Looking at the landscape, I was like this is an opportunity to build a business that can genuinely help the Black community elevate economically through tech,” says Jackson.

And so far, he’s off to a great start. Jackson’s business received the Inclusive Evolution Award as part of Twin Cities Startup Week and Twin Cities Business Magazine’s Community Impact Award. Jackson has also been named a 40 under 40 honoree by the Minneapolis/St. Paul Business Journal.

Aside from generating wealth in the Black community and getting more people of color into technology positions, Jackson’s endeavor gives the BIPOC community a voice in a sector that too often leaves them behind.

Take, for example, facial recognition. Jackson points out that because the algorithms used to deploy facial recognition technology disproportionately use data from white faces, they produce inaccurate readings for Black people and create the potential for illegitimate arrests and charges. The recent film Coded Bias looks at this very issue.

“If it ever gets to a point where they’re testing AI and facial recognition software to specifically identify and lock up Black people, it’s not accurate,” says Jackson.

Jackson has had a research firm reach out to him to get more people of color involved in algorithm testing. It’s this kind of work, he says, that sets Black Tech Talent apart and will allow it to make an impact going forward.

“We don’t want to be looked at as just a staffing company or a recruiting company. We’re conducting our own research… we’re building new technology within our company and we’re having different conversations on how we can change things,” says Jackson.

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Banking On Change Story: Walker | West Music Academy

Walker|West Music Academy: Providing Personal Growth Through Music for More Than Three Decades

Braxton Haulcy understands that music can do more than make people dance. 

The executive director of St. Paul’s Walker|West Music Academy was a struggling student in elementary school. But after starting piano lessons, his schoolwork improved. He attributes the positive change to taking up the instrument. 

“My testimony is that I was a D and F student when I was in the second grade. They held me back and talked with my mom about it,” said Haulcy. “I enrolled in piano and my grades went from Ds and Fs to As. The way I look at things is that whenever you practice music, it’s like going to the gym. It’s a brain workout.” 

It’s fitting then that Haulcy is now at the helm of Walker|West Music Academy, a post he calls the “best job I’ve ever had.” 

Walker|West has been providing music lessons and programming for kids since it was founded by Rev. Carl Walker and Grant West in 1988. The nonprofit is located on Selby Avenue in what was St. Paul’s Rondo neighborhood, which was demolished in the 1950s and 60s when Interstate 94 was constructed. Walker and West started the academy to help revitalize a neighborhood in need of healing by offering affordable music lessons to local kids. 

Walker|West has nearly 30 instructors and serves 230 students a week, offering lessons in everything from classical string instruments to jazz improvisation to digital music production. Once focused on K-12 instruction only, Walker|West now has programming for students of all ages.  The academy also hosts concerts and camps for youngsters as well as a dementia-friendly choir. Haulcy describes the organization as offering “life-long learning.” 

Walker|West Music Academy Marketing Team Lead Genesia Williams emphasizes the fact that Walker|West is more than just a music academy for students and staff alike. 

“It feels like community. It feels like home,” she said. “It’s the feeling a lot of people would describe when walking into a church. There’s a feeling that you get when you’re in a space that you can be seen and heard, and you can be cared for. That is the thing that stands out to me.” 

Haulcy calls his experience with Walker|West “spiritual.” 

“The instructors care. It’s more than just a 30-minute lesson. It’s ‘How are you doing in school? How are things going with the family?’” he said. “We want to engage more, and we want to touch more on the social and emotional piece of the student and bring them into the Walker|West family and village.” 

Walker|West has produced award-winning artists, including Prince proteges WE ARE KING and Nikki Jean, a singer-songwriter who has toured with Kanye West and Rihanna. But at the end of the day, both Williams and Haulcy stress that it’s not about creating Grammy winners, but instead successful human beings. 

“We know that music heals and music supports academic success. There are life skills that you learn from taking music lessons,” said Haulcy. “You learn how to have tenacity, confidence, you have to learn about teamwork – those are life skills that are indispensable.” 

Walker|West is ahead of pre-COVID enrollment levels and Haulcy said the ability to provide remote lessons has greatly increased the academy’s reach. Grant West now has students based in Portland, Ore., Dallas, Texas, and Atlanta, Ga. 

The organization is in the early phases of a new three-year capital campaign, part of which includes fundraising efforts for more physical space as Walker|West continues to grow. The plan also calls for an investment to upgrade the academy’s technology in order to continue supporting remote lessons. Haulcy calls the plan a “transformation.” The campaign would expand programming for seniors and kids alike. 

Helping to build momentum for Walker|West’s bold vision for the future is the #MNCulturalTreasures award, given out in late spring 2021. Ten BIPOC-led arts organizations in Minnesota were awarded multi-year, unrestricted funding made possible by a collaboration of the McKnight, Ford, Bush and Jerome Foundations. This award is the first of its kind for the academy, bringing lots of hope for work ahead. 

“Learning music helps folks in all stages of their lives,” said Williams. “That’s really what this work is about – it’s about helping communities and giving people access to something that we all love (music) and can learn.” 

Financial
Literacy

In partnership with Lutheran Social Service (LSS), Sunrise provides its clients and employees access to free financial counseling and education.

53
$251,751
53

In 2021, 53 participants engaged with budget, debt, credit report review and/or student loan counseling.

$251,751

Sunrise Banks clients paid off $33,702 of unsecured debt through LSS's Debt Management Plan program in 2021; clients have paid off $251,751 of unsecured debt since the partnership began.

Since 2018, Sunrise has provided free online financial literacy courses for 2,800 students and teachers at 24 low- to moderate-income schools in the Minneapolis-St. Paul urban core. In 2021, more than 100 students received financial literacy training workbooks and teacher-led classroom training materials. At all these schools, a majority of students are eligible for free or reduced-cost lunch.

4,700

In 2021, we partnered with Banzai, an online financial literacy provider, to create free financial literacy coaching modules for youth and adults. This program has reached more than 4,700 people, including teachers, students and anyone who has accessed Banzai's courses on Sunrise Banks' website.

With most schools in remote- or hybrid-learning formats during the COVID-19 pandemic, Sunrise created an online program with Twin Cities Road Crew, a financial literacy programming provider in the Twin Cities that was born out of the local Disney radio station and creates fun, interactive programming for students.

250

Twin Cities Road Crew offers both in-person and online financial literacy programs specifically for low- to moderate-income, urban, and Minneapolis/St. Paul students. In 2021, this partnership reached nearly 250 teachers and 3,000 low- to moderate-income students.

NextGen Banker Podcast

The banking industry is changing rapidly – and its transformation will only accelerate as new technology emerges.

So what skills does tomorrow’s banker need in order to keep pace? Sunrise Banks CEO David Reiling answers that question in his new podcast, NextGen Banker.

NextGen Banker launched in May of 2021 and features David in conversation with financial industry pros to learn how technology, environmental sustainability and social responsibility can make a financial system that’s more equitable for all consumers.

But the podcast isn’t just for bankers – it also touches on why corporate social responsibility is a must in any industry.

Listen to NextGen Banker on Spotify, Apple Music and anywhere else you get your podcasts.

Here are a few of our NextGen Banker podcast guests:

NextGen Banker Podcast
Episode 14 "Working Towards a Sustainable Future." - Marilyn Waite

Marilyn Waite knows a lot about sustainability and climate – she also knows the global community has much work ahead if it wants to make real positive change in the long-term. Waite leads the Climate Finance Fund, a $75 million philanthropic platform covering the markets of China, Europe and the United States. She’s also worked in renewable and nuclear energy, climate modeling and investment.

Episode 6 “Going Beyond Good Through Purpose - Driven Business.” – Theo Lau

Theo Lau is an author, podcast host, startup advisor and public speaker. She wrote “Beyond Good: How Technology is Leading a Purpose-Driven Business Revolution,” with Bradley Leimer. Theo talks with David about the role companies can play in fighting inequality and working towards the common good.

Episode 4 “The Banker of the Future is Actually Going to be a Strategist.” – Jason Henrichs

Jason Henrichs is a veteran in the fintech space. He’s the founder of Fintech Forge and a co-founder of Alloy Labs, along with being a host on Breaking Banks, the #1 global fintech radio show and podcast. Jason talks with David about the importance of adaptability in an ever-changing fintech environment as well as what role banks can play in this new frontier. In Jason’s words, the “face of banking is fundamentally going to look more different in the next five years than it has in the previous 500.”

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What Does the NextGen Banker Look Like?

What Does the NextGen Banker Look Like?

Jason Henrichs made a thought-provoking prediction on a recent episode of the NextGen Banker podcast. 

“The face of banking is fundamentally going to look more different in the next five years than it has in the previous 500,” said Henrichs, an expert in the financial technology field and host of Breaking Banks. 

He then took his hypothesis a step further.  

“Ten years from now, there is not going to be a fintech company. Because fintech is fundamentally going to go a way that we’re going to see embedded finance and embedded fintech in the experiences of what we do,” said Henrichs. 

“What we use to call financial technology as a transaction layer is going to be gone.” 

While Henrich’s prognosis is no doubt bold, it’s also in line with the technological advances we’ve already seen in banking over the last decade. Fintech is ubiquitous in our day-to-day, whether through food delivery apps (yes, that’s fintech) or online banking. The ability to move, lend and store money is at our fingertips. 

So what does fintech’s rapid ascent mean for the banker of tomorrow? 

Sunrise Banks CEO David Reiling set out to answer that question in his new podcast, NextGen Banker.

Follow Along on Social 

Stay tuned for more new episodes of the NextGen Banker podcast – which airs twice a month – and don’t forget to follow along on social: NextGen has its own  Facebook, Twitter, Instagram and LinkedIn pages. 

Giving Back

At Sunrise Banks, we pride ourselves on community engagement and giving back. We strive to help the communities we serve through volunteer efforts, local partnerships and charitable donations.

$260 million

Sunrise Banks has always been a community-centric financial institution – the products and services we offer are aimed at helping everyone obtain financial wellness. And through our Impact Deposit Fund (IDF), Sunrise provides funds to support affordable housing, community development and small business in the Twin Cities.

The IDF is a designation that allows anyone with a depository account at Sunrise Banks to be part of a pool of funds used towards community development in Minneapolis and St. Paul. Customers still have the same access to their funds as they normally would – the only difference is that these deposits are being used to support the local community.

In 2021, the IDF contributed to more than $260 million towards economic development.

Charitable Giving Week 2020
3 families

As in previous years, Sunrise Banks partnered with local organizations to sponsor families in need during the holiday season. In 2021, Sunrise partnered with the St. Francis House in Sioux Falls and the Neighborhood House in St. Paul for the annual Giving Tree.

Sunrise helped three families in need here in the Twin Cities with the help of the St. Paul Neighborhood House. The bank also donated and purchased much-needed supplies for the St. Francis House in Sioux Falls.

Habitat for Humanity
502 toys

Sunrise Banks employees and customers collected 502 toys and donated $1,100 to Toys for Tots for children in need.

Charitable Giving Week 2020
330lbs

This year, Sunrise donated 330 pounds of food to Keystone Community Services, a St. Paul-based organization that offers community based services to those in need.

Habitat for Humanity
40 hours

Sunrise Banks offers full-time employees 40 hours of paid time off to volunteer in the community; part-time employees receive 20 hours of paid volunteer time.

Charitable Giving Week 2020
We love our community. #stillhereforyou
Sponsors and Donors
  • Accord
  • Aeon
  • Aeon - Alan Arthur Legacy
  • Alliance Housing
  • Ann Bancroft Foundation
  • Autism Society
  • Banyan Community
  • Big Brothers Big Sisters - Sioux Falls
  • Black Tech Talent
  • Bolder Options
  • Coalition of Asian American Leadership (CAAL)
  • Como Park Zoo & Conservatory
  • Constellation Fund
  • Crescent Cove
  • Dress for Success Twin Cities
  • East Side Area Business Association
  • Family Values
  • Fresh Energy
  • Global Minnesota
  • Haven Housing
  • Heilicher School
  • Hiawatha Academies
  • Hillcrest Community Engagement
  • Interact Center for the Visual and Performing Arts
  • Interfaith Action of Greater Saint Paul
  • Junior Achievement - North
  • Lake Street Council
  • Latino Economic Development Center
  • Local Initiatives Support Corporation (LISC)
  • Lutheran Social Service
  • Metropolitan Consortium of Community Developers
  • Metropolitan Economic Development Association (MEDA)
  • Midway YMCA
  • Minneapolis Regional Chamber of Commerce
  • Minnesota Coalition for the Homeless
  • Minnesota Humanities Center
  • Minnesota Tool Library
  • Neighborhood Development Center (NDC)
  • North Loop Neighborhood Association
  • Northside Economic Opportunity Network (NEON)
  • One Tree Planted
  • Paadio, Inc.
  • Page Education Foundation
  • Park Bugle Newspaper
  • Pathways
  • Project for Pride in Living (PPL)
  • Rebuilding Together Twin Cities
  • Sisters of St. Joseph Carondelet
  • St. Anthony Park Area Seniors
  • St. Anthony Park Community Foundation
  • St. Paul Ballet
  • St. Paul Parks Conservancy
  • St. Paul Urban Tennis
  • Sunrise Banks - Pay it Forward Fund
  • Team Rubicon
  • The Link
  • The Sanneh Foundation
  • Twin Cities Habitat for Humanity
  • Twin Cities R!SE
  • University of Minnesota - Carlson 4 Community (C4C)
  • University of St Thomas - Racial Justice Initiative
  • Women Venture
  • YWCA
  • Accord
  • Aeon
  • Aeon - Alan Arthur Legacy
  • Alliance Housing
  • Ann Bancroft Foundation
  • Autism Society
  • Banyan Community
  • Big Brothers Big Sisters - Sioux Falls
  • Black Tech Talent
  • Bolder Options
  • Coalition of Asian American Leadership (CAAL)
  • Como Park Zoo & Conservatory
  • Constellation Fund
  • Crescent Cove
  • Dress for Success Twin Cities
  • East Side Area Business Association
  • Family Values For Life
  • Fresh Energy
  • Global Minnesota
  • Haven Housing
  • Heilicher School
  • Hiawatha Academies
  • Hillcrest Community Engagement
  • Interact Center for the Visual and Performing Arts
  • Interfaith Action of Greater Saint Paul
  • Junior Achievement - North
  • Lake Street Council
  • Latino Economic Development Center
  • Local Initiatives Support Corporation (LISC)
  • Lutheran Social Service
  • Metropolitan Consortium of Community Developers
  • Metropolitan Economic Development Association (MEDA)
  • Midway YMCA
  • Minneapolis Regional Chamber of Commerce
  • Minnesota Coalition for the Homeless
  • Minnesota Humanities Center
  • Minnesota Tool Library
  • Neighborhood Development Center (NDC)
  • North Loop Neighborhood Association
  • Northside Economic Opportunity Network (NEON)
  • One Tree Planted
  • Paadio, Inc.
  • Page Education Foundation
  • Park Bugle Newspaper
  • Pathways
  • Project for Pride in Living (PPL)
  • Rebuilding Together Twin Cities
  • Sisters of St. Joseph Carondelet
  • St. Anthony Park Area Seniors
  • St. Anthony Park Community Foundation
  • St. Paul Ballet
  • St. Paul Parks Conservancy
  • St. Paul Urban Tennis
  • Sunrise Banks - Pay it Forward Fund
  • Team Rubicon
  • The Link
  • The Sanneh Foundation
  • Twin Cities Habitat for Humanity
  • Twin Cities R!SE
  • University of Minnesota - Carlson 4 Community (C4C)
  • University of St Thomas - Racial Justice Initiative
  • Women Venture
  • YWCA