The team at Stearns Bank views diversity, equity and inclusion (DE&I) as an ongoing journey rather than a destination. This perspective underscores the organization’s commitment to showing up, communicating effectively and holding itself accountable to understanding the unique nuances of every individual. At Stearns Bank, DE&I is not a buzzword but a lived experience deeply woven into its company’s culture and operations. With its Board of Directors completely comprised of women and minority individuals, the bank’s leadership truly reflects its foundational commitment to equity and inclusivity.
Empowering Communities Through Inclusive Banking
As a financial institution headquartered in Minnesota with branches in Florida and Arizona, Stearns Bank empowers individuals, entrepreneurs, small businesses and local communities to achieve their financial potential. Its offerings include consumer and small business banking, affordable housing financing, USDA and SBA lending and equipment financing..
Tailored Solutions for All Communities Nationwide
Stearns Bank’s DE&I initiatives aim to promote education, belonging and equity both within the organization and in the communities it serves. Acknowledging systemic financial barriers — such as 45% of U.S. households being unbanked or underbanked — the bank develops tailored solutions for groups and communities traditionally excluded from the financial services ecosystem, creating new pathways to financial empowerment. Through research, active engagement and strategic collaboration, the bank works with local leaders to design solutions informed directly by community needs.
Building Financial Empowerment for Employees
Internally, Stearns Bank promotes financial empowerment through its employee stock ownership plan (ESOP), enabling all employees to become owners and benefit from untaxed contributions that grow annually. Comprehensive training programs address microaggressions, allyship, unconscious bias and cultural competency, with a 90 percent participation rate. Additional initiatives such as DiSC assessments and leadership-oriented diversity training enhance inclusivity and collaboration across the organization.
Strategic Partnerships Strengthen DE&I Efforts
Partnerships with organizations like Pillsbury House Theatre further bolster Stearns Bank’s efforts. For example, its Breaking Ice training addresses systemic inequities, implicit bias and workplace misperceptions through an interactive format that fosters reflection and equips employees to navigate complex dynamics effectively.
Commitment Backed by Strong Leadership
Over the past three years, Stearns Bank has solidified its DE&I foundation by creating an advisory board and a diversity committee, hiring a dedicated DE&I professional and establishing key metrics to measure success. Participation rates in training, employee feedback and demographic tracking help refine programs and ensure alignment with the bank’s strategic vision and values. Virtual “huddles” encourage cross-departmental collaboration and idea-sharing, maintaining connection even for remote employees.
Family Care Program: Supporting Employees Holistically
One standout example of the bank’s inclusivity is its Family Care Program, which provides up to $5,000 annually to assist team members with approved expenses. Recognizing “family” in all forms, the program supports childcare, eldercare, student loan debt and even pet expenses, underscoring the bank’s holistic approach to employee well-being.
Leadership Buy-In Drives Sustainable Progress
Stearns Bank attributes its DE&I success to strong leadership support including its board of directors, president & CEO and senior leadership team. Their alignment drives traction for initiatives, ensuring they achieve meaningful growth. For organizations seeking to implement DE&I programs, Stearns Bank emphasizes the importance of leadership buy-in as a catalyst for driving sustainable progress.
A Culture Rooted in Belonging and Equity
By integrating DE&I into its culture, operations and community outreach, Stearns Bank demonstrates that its commitment to diversity, equity and inclusion is not just a policy but a core value bringing to life its mission and impact. Its most valuable asset — its employees — continues to thrive in an environment where everyone can show up as their authentic selves.
