Sunrise Banks

What Sunrise Banks does

Sunrise Banks, N.A. is a privately held community bank founded in 1986 and headquartered in West Saint Paul / Minneapolis, Minnesota, operating full-service branches in Minneapolis, St. Paul, and Sioux Falls. The bank holds approximately $2.4 billion in assets and employs over 350 people as of January 2026. It is a Certified B Corporation, a U.S. Treasury-certified Community Development Financial Institution (CDFI), and a member of the Global Alliance for Banking on Values, with a stated commitment to deploying at least 60% of lending to low-to-moderate income communities.

The bank operates a hybrid technology platform combining a community bank core with digital banking channels (online, mobile, text/phone) and specialized integrations including IntraFi CDARS/ICS for multi-million-dollar FDIC insurance coverage, Treasury Management with ACH/Check Positive Pay and Business Tokens for MFA, CardValet for debit card controls, and a Galileo-powered card issuing infrastructure for co-branded debit programs with United Airlines (MileagePlus) and Southwest Airlines (Rapid Rewards). It also deploys Akuvo's SaaS collections platform with Virtual Collector for autonomous delinquent account handling. Subsidiary BeneMoney (acquired February 2026) extends into no-credit-check employee benefit lending.

Revenue is generated through net interest income on consumer and commercial lending (mortgages, HELOCs, auto, personal, SBA, NMTC-financed commercial projects), fee-based services (overdraft, wires, treasury management), and fintech/BaaS partnership revenue from issuing cards and embedding deposit accounts for partners including Lili, BeneMoney, and Self. The bank serves individual consumers, small businesses, commercial clients, nonprofits, fintech companies, and LMI communities through a hybrid go-to-market combining direct-to-consumer retail banking, sales-led commercial/SBA/NMTC lending, and embedded BaaS distribution.

Name

Sunrise Banks

Legal name

Sunrise Banks, N.A.

Website

https://sunrisebanks.com

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

251–500 employees

Short description

Sunrise Banks is a CDFI-certified, B Corp community bank with ~$2.4B in assets offering personal, business, and commercial banking, plus banking-as-a-service partnerships issuing co-branded debit cards for major airlines and embedded accounts for fintech firms.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Depository Credit Intermediation (5221), Commercial Banking (52211)

SIC

National Commercial Banks (6021)

akta.pro industry

PRIMARYFSABAAAA

Mass-Market Consumer Deposit Banking (Checking/Savings)

Financial & Insurance/Banking (Commerical, Retail & Consumer)/Retail Banking

SECONDARYFSAGALAA

BaaS Platforms & Sponsor Bank Enablement

Financial & Insurance/Financial Technology (Fintech)/Embedded Finance & Banking-as-a-Service (BaaS)

SECONDARYFSABABAC

SME Deposits & Business Accounts (Operating, Savings, CDs)

Financial & Insurance/Banking (Commerical, Retail & Consumer)/Commercial Banking (SME & Middle Market)

SECONDARYFSABAAAE

Branch & In-Person Banking (Teller/ATM Networks)

Financial & Insurance/Banking (Commerical, Retail & Consumer)/Retail Banking

Keywords

• Community banking services
• Small business lending
• Certified b corporation
• Cdfi certified bank
• Fintech banking partnerships

Headquarters

HQ city

West Saint Paul

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Net Interest Income: Interest earned on loans including mortgages, home equity lines, auto loans, personal loans, SBA loans, commercial lending, and credit builder products. Interest paid on deposits including checking, savings, CDs, and IRA accounts
2. Fee-based Services: Various banking fees including NSF fees, overdraft protection fees, wire transfer fees, ATM fees, and account maintenance fees
3. Fintech Partnership Revenue: Revenue from banking-as-a-service partnerships issuing debit cards and lending products for fintech companies like Lili, BeneMoney, and airline loyalty programs

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels8 records

Core offering

Sunrise Banks is a CDFI-certified, B Corp community bank providing personal banking (checking, savings, mortgages, HELOCs, auto and personal loans), small business and commercial banking (business checking, Treasury Management, SBA loans, New Markets Tax Credits, C-PACE lending), and Banking-as-a-Service fintech partnerships (Lili, BeneMoney, United and Southwest co-branded debit cards). The bank operates through branches in Minneapolis, St. Paul, and Sioux Falls, supported by digital, mobile, and text banking channels, with a mission to deploy 60%+ of lending to low-to-moderate income communities.

Product overview

Sunrise Banks is a community bank offering a comprehensive suite of personal, business, and commercial banking products through physical locations and digital channels. The core banking offerings include multiple checking and savings accounts (Key Checking, Platinum Checking Rewards, Rise Checking, Senior Checking, Thrift Savings, Advantage Savings, Premier Savings, Youth Savings), certificates of deposit with IRA options, and diverse lending products (home mortgages, HELOCs, auto loans, personal loans, credit builder, SBA loans). The bank operates digital banking and mobile banking platforms providing online account management, mobile deposits, and text banking. For business customers, it offers business checking, savings, credit cards, and treasury management services including ACH Positive Pay and Check Positive Pay. The bank differentiates through ethical banking initiatives including Community Impact Deposits, Net Zero Deposits, and Net Zero Financing. It participates in the IntraFi Network offering CDARS for FDIC-insured multi-million dollar CD coverage and ICS for liquidity-focused deposits. Through fintech partnerships (Lili for business checking) and card programs (United Airlines MileagePlus, Southwest Rapid Rewards debit cards), the bank extends its reach. Additional services include financial wellness counseling, the Pathway2Home mortgage program for immigrants, and Akuvo-powered collections automation.

Differentiator

Problem solved

Functional benefit

Brands

• BeneMoney: No-credit-check loan platform for employees through employer benefits, formerly TrueConnect, now owned by Sunrise Banks.
• Pathway2Home

Products and services

• Key Checking Personal checking account offering basic banking services with digital access for individual customers.
• Platinum Checking Rewards Premium personal checking account with rewards and enhanced benefits for individual customers.
• Rise Checking Free personal checking account with no minimum balance requirements, including digital banking access.
• Senior Checking Checking account tailored for senior customers with age-appropriate features.
• Thrift Savings Basic personal savings account for accumulating funds with competitive rates.
• Advantage Savings Personal savings account with enhanced features and benefits.
• Premier Savings Premium personal savings account for higher-balance savers.
• Youth Savings Savings account designed for young customers to encourage early saving habits.
• Certificates of Deposit (CDs) Fixed-term deposit accounts offering higher, predictable rates with maturity options from 4 weeks to 5 years.
• IRA Individual Retirement Accounts for tax-advantaged retirement savings.
• Home Mortgage Mortgage loans for purchasing or refinancing homes, including lender credits for closing costs and down payment assistance programs.
• Home Equity Line of Credit (HELOC) Revolving credit line secured by home equity for renovations, debt consolidation, or other expenses.
• Auto Loans Financing options for purchasing vehicles.
• Personal Loans Unsecured loans for various personal financial needs.
• Credit Builder Program designed to help customers build credit scores while establishing a strong payment history.
• Overdraft Protection Protection against insufficient funds to cover transactions.
• Digital Banking Online banking platform enabling account management, payments, fund transfers, and bill payments.
• Mobile Banking Mobile application for banking on smartphones and tablets with features like mobile deposit and touch ID.
• Text & Phone Banking Banking services accessible via text messages and phone for account access and customer service.
• ATM/Debit Cards Mastercard debit and ATM cards for convenient access to funds and payments.
• Personal Credit Cards Credit card products for personal use with various pricing and rewards programs.
• Business Checking Flexible checking accounts designed for businesses of all sizes to manage payments and money.
• Business Savings Business savings accounts offering secure access to business assets.
• Business Credit Cards Credit card products designed for business expense management.
• Treasury Management Customized cash management solutions including ACH Positive Pay, Check Positive Pay, ACH Debit Block, Check Block, and Business Tokens MFA.
• SBA Loans Small Business Administration loan programs for qualifying businesses.
• New Markets Tax Credit Federal program for attracting private investment, creating jobs, and sparking economic growth in low-income communities.
• C-PACE Lending Commercial Property Assessed Clean Energy lending for energy efficiency and renewable energy projects.
• USDA Rural Development Guaranteed Loan Program Government-backed loans for rural development and agricultural businesses.
• Strategic Lending Commercial lending solutions for business growth and development.
• CDARS (Certificate of Deposit Account Registry Service) FDIC insurance service that spreads large CD investments across multiple banks to achieve multi-million-dollar coverage with one bank relationship, one rate, and no fees.
• IntraFi Cash Service (ICS) FDIC insurance service providing access to millions in coverage through a single bank relationship, with liquidity features and protection against market loss.
• Community Impact Deposits Deposit products that support community development and social impact initiatives.
• Net Zero Deposits Deposit products with environmental sustainability features.
• Net Zero Financing Financing options focused on sustainability and environmental impact.
• ACT Deposit Program Deposit program aligned with ethical and impact banking principles.
• Nonprofit Banking Banking services tailored for nonprofit organizations.
• CRA-Qualified Deposits Deposit products designed for Community Reinvestment Act compliance.
• Card Programs Co-branded and custom card programs including airline loyalty cards.
• Financial Choice Counseling Program Free, confidential financial counseling services for Sunrise Banks customers delivered through Lutheran Social Services.
• Pathway2Home Mortgage program designed to help immigrants achieve homeownership.
• BeneMoney No-credit-check loans offered to employees through employer benefits, providing quick loans via payroll deductions and financial education to improve worker financial stability; formerly TrueConnect, owned by Sunrise Banks.
• United Airlines MileagePlus Debit Rewards Card Visa debit card issued by Sunrise Banks that allows United MileagePlus members to earn miles through everyday purchases and qualifying account balances, with 10,000 bonus miles upon approval and $500 in qualifying purchases.
• Southwest Airlines Rapid Rewards Debit Card Debit card issued by Sunrise Banks allowing customers to earn Southwest Rapid Rewards points on everyday purchases, with welcome bonus, unlimited points on spending, and Companion Pass bonus.

Quantifiable outcome

• Over 350 employees as of Jan 2026 with 59% women and 28% BIPOC representation
• +5 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability2 records

Feature5 records

Partnerships

Twelve partnerships are on record, tiered core, flagship and minor.

• The CovencoreStrategic or Co-development Partner · 14 April 2026Sunrise Banks supported The Coven Richfield location through New Markets Tax Credit financing, providing capital for the women-focused coworking space network's eighth location.
• Federal Home Loan Bank of Des MoinescoreStrategic or Co-development Partner · 23 March 2026Sunrise Banks partnered with FHLB Des Moines to distribute $122,500 in grants through Member Impact Fund to eight South Dakota nonprofits supporting affordable housing, community development, and entrepreneurship.
• BeneMoneyflagshipStrategic or Co-development Partner · 19 February 2026BeneMoney, formerly TrueConnect, relaunched with new ownership by Sunrise Banks to provide no-credit-check loans to employees through employer benefits. The company aims to improve financial access and stability for American workers.
• LilicoreChannel Partner/ Reseller/ Distributor · 6 February 2026Lili is a financial technology company that partners with Sunrise Banks N.A. for its banking services, with deposits insured up to $3 million through the IntraFi network.
• Galileo Financial TechnologiescoreTechnology or Integration · 4 November 2025Galileo provides the technology platform powering United Airlines' MileagePlus Debit Rewards Card issued by Sunrise Banks. Partnership enables seamless card processing and management.
• United AirlinesflagshipStrategic or Co-development Partner · 4 November 2025Sunrise Banks issues the United Airlines MileagePlus Debit Rewards Card, a Visa debit card developed in partnership with Galileo that allows members to earn miles through spending and savings balances.
• Southwest AirlinesflagshipStrategic or Co-development Partner · 28 October 2025Sunrise Banks issues the Southwest Rapid Rewards Debit Card powered by Galileo, allowing customers to earn points on everyday purchases with welcome bonus, unlimited points, and Companion Pass bonus.
• NEON (Northside Economic Opportunity Network)coreStrategic or Co-development Partner · 22 May 2025Sunrise Banks provided New Markets Tax Credit allocation for the $20 million NEON Collective Kitchens project, a 25,000-square foot food entrepreneur facility in North Minneapolis.
• AkuvocoreTechnology or Integration · 13 May 2025Sunrise Banks partnered with Akuvo to deploy Akuvo's SaaS collections platform for automating risk analysis, credit disputes, repossessions, and bankruptcy processing. The bank also adopted Akuvo's Virtual Collector for autonomous handling of delinquent accounts.
• LSS Financial CounselingcoreStrategic or Co-development PartnerSunrise Banks offers free financial counseling through LSS Financial Counseling to all account holders as part of the Financial Choice Counseling Program.
• IntraFi NetworkcoreTechnology or IntegrationIntraFi Network provides CDARS and ICS services enabling Sunrise Banks to offer FDIC insurance coverage up to $3 million through its network of insured banks.
• Self (Self.inc)minorChannel Partner/ Reseller/ DistributorSelf financial wellness app partnered with Sunrise Banks for banking services, listed on Sunrise Banks fintech partnerships page.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• City First Bank: City First Bank (now part of Broadway Financial) is a CDFI-certified, minority-led community bank focused on affordable housing and economic development lending in the Washington DC region. It is a direct peer to Sunrise Banks in CDFI mission, community-development lending, NMTC activity, and serving LMI communities through specialty financing programs.
• Beneficial State Bank: Beneficial State Bank is a CDFI-certified, B Corp community bank serving Washington, Oregon, and California with consumer, small business, and commercial banking plus impact-focused lending. It is the closest peer to Sunrise Banks given the shared CDFI + B Corp mission structure, values-based deposit products, and similar asset size range.
• Amalgamated Bank: Amalgamated Bank is a values-based commercial bank serving progressive organizations, unions, nonprofits, and ESG-conscious clients. It is highly comparable to Sunrise Banks in mission orientation, B Corp-adjacent positioning, commercial and nonprofit banking focus, and use of deposit products (e.g., purpose-aligned deposits) to attract values-aligned capital.
• Stride Bank: Stride Bank is an Oklahoma-based community bank known as the issuing bank for Chime and other fintech debit card programs, plus BaaS lending partnerships. It is a direct peer in operating as a sponsor bank for high-profile fintech debit cards and embedded banking products serving similar customer demographics.
• Coastal Community Bank: Coastal Community Bank is a Washington-state community bank widely known for its banking-as-a-service and sponsor-bank relationships with fintechs including Mercury (now its own bank), SoFi, and others. It is a direct peer in the BaaS issuing model and small-business-focused fintech banking space.
• Cross River Bank: Cross River Bank is a New Jersey-chartered community bank that built a large banking-as-a-service and fintech lending platform, partnering with companies like Affirm, Stripe, and Coinbase. It is a direct peer in BaaS partnership strategy, sponsor-bank model, and embedded card/lending infrastructure — though at materially larger scale.
• Sutton Bank: Sutton Bank is an Ohio-based community bank that is a leading issuer of debit cards for neobanks and fintechs including Chime's earlier product, NetSpend, and others. It is highly comparable as a direct BaaS competitor for the same airline and fintech debit-card issuing business that Sunrise Banks is pursuing.

Broad incumbents

• Mechanics Bank: Mechanics Bank is a California-based community bank serving consumers, small businesses, and commercial clients across multiple western markets. It is a broad incumbent in community banking with overlap to Sunrise in commercial lending, SBA programs, and treasury management, but at materially larger scale and without Sunrise's CDFI/B Corp specialization.

Emerging players

• First Boulevard Bank: First Boulevard Bank is a Black-led, CDFI-certified neobank building deposits and lending for Black and underserved communities. It overlaps with Sunrise Banks' CDFI mission, LMI community focus, and digital-first distribution approach, but operates as a digital-native challenger rather than a hybrid branch-and-digital bank.

Regional players

• Bremer Financial: Bremer Financial is a Minnesota-headquartered regional bank with consumer, small business, agribusiness, and commercial banking across Minnesota, North Dakota, and Wisconsin. It competes with Sunrise Banks in the Twin Cities market and shares the community-bank DNA, but operates at much larger scale and without Sunrise's BaaS or CDFI specialization.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/SunriseBanks
• Facebookfacebook.com/SunriseBanks
• LinkedInlinkedin.com/company/sunrise-banks
• Instagraminstagram.com/sunrisebanks

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sunrise Banks