current. mnsun. com Local Business Today • Thursday, March 27, 2025 Page 11
Citizen’ s Independent Bank celebrates 75 years with market-leading products
by Renee McGivern
It’ s comforting to know that in these days of huge stockholder-owned banks, there is a 75-yearold community bank that stands ready to be your partner in meeting your financial goals. Citizens Independent Bank( CIB) understands and provides what you need.
How about a 6 % interest checking account * or 6.00 % back * on debit card purchases? For business owners, what about tapping into CIB’ s Free Small Business account, which allows for 1000 transactions a month?
“ We are proud to be the market leader for innovative financial products,” said CIB President Brad Bakken.
The personal touch is hard to miss at CIB. If you call, someone answers. If you stop in, a person welcomes you. Yet you can use all the remote, digital tools you want to manage your money, too.
A delightful fact about CIB is that for most of its history, a woman owned and ran it! In 1980, Connie Bakken bought the bank, without banking experience, and was one of just a handful of women in Minnesota who owned a bank.
While running the bank, she attended the Graduate School of Banking and Minnesota School of Banking at St. Olaf College in Northfield.
“ She was a trailblazer in a traditional man’ s world,” said Bakken, who became president and CEO in 1998.“ And she created a warm, caring culture that is felt by our staff and customers even now.”
Daniel and Connie Bakken
The third generation of Bakkens works at CIB, too. Daniel is an AVP / business banker. Eric is a finance specialist, and Dwight is the branch manager at Hopkins. Like his grandmother, Daniel attended St. Olaf. Late last year, he completed studies at the Graduate School of Banking at the University of Wisconsin-Madison.
CIB has weathered economic storms alongside its customers: The high interest rates and mortgage bubble bust of the 1980s, the financial crisis of the 2000s, and COVID closures and inflation of recent times.
CIB also has a deep commitment to communities. Employees volunteer for civic groups and nonprofits and recently, the staff collected over 6,500 books and donated them to St. Louis Park Community Ed to distribute to the classrooms and senior center.
After 75 years, CIB continues to be independent and unmerged, serving the financial needs of local economies. It’ s located in St. Louis Park, Robbinsdale, Plymouth and Hopkins.
Learn more about CIB products and services at https:// www. bankcib. com /.
Get super high rates on your free checking! |
6.00 %
APY *
On balances up to and including $ 25,000 if qualifications are met
0.05 %
APY *
on all balances, even if qualifications are not met
|
St. Louis Park 952-926-6561 Also located in Hopkins, Robbinsdale & Plymouth bankCIB. com |
Monthly Qualifications: eStatement, 1- ACH Credit / Debit, 15 debit card transactions When your Kasasa Cash account qualifications are met during a Monthly Qualification Cycle, daily balances up to and including $ 25,000 in your Kasasa Cash account earn an Annual Percentage Yield( APY) of 6.00 %; and daily balances over $ 25,000 earn an APY of 0.25 %, resulting in a blended APY between 6.00 %-1.40 % depending on the account’ s daily balance. Kasasa Saver balances up to $ 100,000 earn an APY of 2.0 % and daily balances over $ 100,000 will earn an APY of. 25 % resulting in a blended APY depending on the account’ s daily balance. APY rates effective as of 05 / 13 / 2024. You will receive reimbursements of ATM fees up to $ 25 for ATM transactions incurred within your Kasasa Cash account during the Monthly Qualification Cycle in which you qualified. NOTE: Kasasa Saver ATM transaction fees are not reimbursed. When your Kasasa Cash qualifications are not met during a Monthly Qualification Cyle, the account balance in Kasasa Cash and Kasasa Saver will earn an APY of 0.05 % and ATM withdrawal fees are not refunded. Interest will be credited to your Kasasa Cash and Kasasa Saver account( s) on the last day of the current statement cycle. Rates are variable and may change after account is opened and without notice to you. Minimum opening deposit of $ 25 is required. Early closing fee of $ 10 if closed within 90 days and other fees may apply. Advertised information and rewards are based on all account qualifications being met during each cycle period. Contact a banker for additional information. Member FDIC. * Annual Percentage Yield Debit card transactions need to post and settle to the account during the cycle period. Trademarks: Kasasa, Kasasa Cash and Kasasa Cash Back are trademarks of Kasasa, Ltd., registered in the U. S. A. |