William Reiling and his son Davidtook over two troubled Twin Cities banks, including one accused of discriminating against customers in poor areas, three decades ago.
To reverse course and rebuild, the Reilings looked to those clients who had been wronged — working-class people and immigrants in urban neighborhoods. They also sought nonprofits and small businesses as clients.
Today, the family's St. Paul-based Sunrise Banks is a financial linchpin for the Twin Cities' nonprofit community as it assists with mortgages for affordable housing and works with organizations that help poor families find stability.
It's also growing by partnering with technology companies to offer financial products nationwide that help people repair their credit and avoid predatory payday lenders.
"My dad grew up a poor farm kid. He said, 'Don't screw the little guy,' " Sunrise Banks CEO David Reiling said of the bank's philosophy.
Sunrise, with $1 billion in assets, is one of about 100 banks nationally certified by the U.S. Treasury as a Community Development Financial Institution providing credit, investment capital and financial services in distressed urban communities.
It underwrites all the mortgages for Greater Twin Cities Habitat for Humanity — nearly 100 last year alone.
"They are motivated by doing the right thing," said Robyn Bipes-Timm, Habitat's vice president of loan fund and mortgage lending. "It's so refreshing."