Established community banking leader is committed to responsible fintech applications for communities and businesses

St. Cloud, MN (August 26, 2024) – Today, the American Fintech Council (AFC), the premier industry association representing responsible financial technologies (fintech) companies and innovative banks, announced the addition of Stearns Bank N.A. as its newest member. Founded in 1912, Minnesota-based Stearns Bank has emerged as a nationally recognized financial institution with branch locations in Minnesota, Arizona and Florida. With a strong focus on expanding access to responsible credit and capital nationwide, Stearns Bank joins a community of like-minded companies driving the future of financial services at AFC.

“Stearns Bank is a national leader in supporting businesses and communities alike through modern and inclusive banking,” said Phil Goldfeder, Chief Executive Officer of AFC. “As the banking industry continues to modernize, Stearns Bank has not only adapted to the landscape, but shaped it through strategic partnerships with fintech companies addressing their customers’ specific needs. We are proud to welcome them to AFC’s collective mission of elevating responsible industry players and promoting consumer-centric innovation.”

Over the last several years, Stearns Bank has partnered with fintech companies to offer safe and responsible embedded banking solutions. Stearns Bank has prioritized risk management, compliance, and responsible technological development in its fintech partnerships and sponsorship offerings as it grows its suite of services to better support its customers.

“Stearns Bank is rooted in entrepreneurship and we remain anchored to our original goal of innovation, empowering inclusive growth by helping our customers achieve their greatest ambitions,” said Kelly Skalicky, President and CEO of Stearns Bank. “We are excited to join AFC and expand upon our commitment to fostering economic growth and financial inclusion at the local and national levels.”

A standards-based organization, AFC is the premier trade association representing the largest fintech companies and innovative Banking-as-a-Service (BaaS) banks. AFC’s mission is to promote a transparent, inclusive, and customer-centric financial system by supporting responsible innovation in financial services and encouraging sound public policy. AFC members foster competition in consumer finance and pioneer products to better serve underserved consumer segments and geographies.

About Stearns Bank

Minnesota-based Stearns Bank National Association is a $3.2 billion, independently owned financial institution with over 35,000 customers nationwide and locations in Minnesota, Florida, and Arizona. 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, Stearns Bank specializes in nationwide commercial construction lending, USDA and SBA lending, and small business and equipment financing. For more information, visit StearnsBank.com

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