Unity Bank

What Unity Bank does

Unity Bank is a privately-held community bank headquartered in Augusta, Wisconsin, founded in 1882 and owned by the Solsrud family since 1970. Following the 2019 merger of three bank charters (Unity Bank WI, Unity Bank MN, and Unity Bank North) into a single entity, the bank now operates 13 branches across Minnesota, Wisconsin, and Montana with approximately 150 employees. The bank serves small-to-medium businesses, individual consumers, and agricultural operations with a relationship-focused, local-decision-making model.

The product portfolio spans personal and business banking (checking, savings, money market, certificates of deposit), a full lending suite (consumer, mortgage, HELOC, commercial, SBA, agricultural), investment and wealth management, and insurance services. The core digital platform is built on Fiserv's mobile and online banking infrastructure, with iOS and Android apps, Zelle, mobile deposit, real-time transaction alerts, and CardValet debit card controls. The bank also operates a School Spirit Debit Card program that donates to 10 partner school districts, runs an active scholarship program (over $50,000 awarded since 2020), and participates in a broad network of community events across its footprint. The bank holds Member FDIC status, NMLS# 469765, and Equal Housing Lender designation.

Revenue is generated primarily through net interest income from the lending book (commercial, consumer, mortgage, agricultural), supplemented by deposit account fees (overdraft, service charges, analysis accounts), insurance commissions through carrier partnerships, and wealth management fees via the Adviceworks client portal. The bank is governed by CEO Rachel (Solsrud) Goodell, who has led the consolidated entity since the 2019 charter merger, with a named team of 10+ commercial relationship managers and 4 mortgage lenders distributed across branch markets.

Name

Unity Bank

Legal name

Unity Bank

Website

https://unitybanking.com

Company type

Private

Founded year

1882

Operating status

Operating

Headcount range

101–250 employees

Short description

Unity Bank is a privately-held, Solsrud-family-owned community bank founded in 1882, operating 13 branches across Minnesota, Wisconsin, and Montana, serving individuals, small-to-medium businesses, and agricultural customers with personal banking, commercial and agricultural lending, wealth management, and insurance products.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

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

SIC

Commercial Banks, Nec (6029)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

akta.pro secondary industry

Agricultural & Rural Cooperatives (Farm Credit/Co-op Banks) (FSABAEAG)

Keywords

• Community banking services
• Commercial lending
• Agricultural banking
• Personal banking products
• Wealth management services

Headquarters

HQ city

Augusta

HQ country

United States

HQ region

North America

Offices13 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Lending: Unity Bank generates revenue primarily through interest income from commercial loans, consumer loans, mortgages, and agricultural loans. The bank offers commercial lending, SBA loans, agricultural banking, and consumer lending products.
2. Insurance Services: The bank offers insurance services including personal insurance (auto, home, renters, umbrella, motorcycle, RV, ATV, boat, snowmobile), commercial insurance, and employee benefits insurance through partnership with insurance carriers.
3. Deposit Account Fees and Services: Revenue from checking and savings account fees, including monthly service fees, overdraft fees, and analysis account fees for business customers.
4. Investment and Wealth Management: Investment services including wealth management, retirement planning, estate planning, and succession planning through investment advisors.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Unity Bank is a community bank that provides a full suite of personal, business, and agricultural banking products and services. Its offerings include checking, savings, money market accounts, certificates of deposit, mortgages, consumer loans, commercial loans, SBA loans, agricultural lending, business debit cards, investment and wealth management, and insurance services delivered through 13 branches across Minnesota, Montana, and Wisconsin plus a digital banking platform.

Product overview

Unity Bank is a community bank offering a unified portfolio of traditional banking products and services through a relationship-focused model. The product suite spans personal and business banking (checking, savings, money market, and CDs), lending (consumer, mortgage, commercial, SBA, and agricultural loans), investment and wealth management, insurance services, and digital banking. The core digital platform is powered by Fiserv and accessed via online and mobile banking (iOS and Android), supplemented by integrations with Zelle, Mastercard, MoneyPass, and card management tools. The bank operates across 13 branches in Minnesota, Montana, and Wisconsin with approximately 150 employees.

Differentiator

Problem solved

Functional benefit

Products and services

• uBusiness Checking Basic business checking account with a $50 minimum to open and no monthly service fee, including a Business Debit Mastercard, online banking, merchant services, and credit card options for small businesses.
• uBusiness+ Checking Earning-potential business checking account for sole proprietors, non-profits, or public entities, featuring a $10 monthly fee if balance falls below $1,000 and custom cash management solutions.
• uBusiness Analysis Checking High-volume business checking account with a $15 monthly fee and an earnings credit that offsets account fees, designed for robust financial activity.
• uBusiness Savings Business savings account with a $200 minimum to open and a $7 monthly service fee if balance falls below $200, interest-bearing with sweep capabilities from business checking.
• uBusiness Money Market Business money market account with competitive interest rates and flexible access to funds, with a $10 monthly fee if balance falls below $2,500.
• Commercial Loans Customized commercial lending solutions for business expansion, equipment purchases, commercial real estate, working capital, and cash flow support, with relationship-focused local decision-making and a current 5.65% five-year fixed-rate special offer.
• SBA Lending Small Business Administration loans offering competitive rates, flexible terms, and tailored financing solutions for businesses at every stage.
• Business Digital Banking Secure online and mobile banking platform for business customers to manage finances, view transactions, make transfers, pay bills, and access cash management tools anytime, anywhere.
• Certificates of Deposit (CDs) Time deposit accounts with guaranteed returns, including 9-month CDs at 3.75% APY ($5,000 minimum), 18-month CDs at 3.80% APY ($2,500 minimum), and 24-month IRA CDs at 3.85% APY ($2,500 minimum).
• Home Equity Line of Credit (HELOC) Revolving credit line secured by home equity, offering flexible access to funds with competitive rates and interest charged only on the amount drawn, currently featuring a limited-time special offer.
• Agriculture Banking Services Specialized banking services for agricultural operations including agriculture checking, savings, and lending products, with dedicated ag bankers providing tailored financial solutions for farmers, dairy operations, and farm equipment financing.
• Insurance Services Comprehensive personal and business insurance offerings provided through licensed insurance agents, covering auto, home, renters, umbrella, motorcycle, RV, ATV, boat, snowmobile, and other personal and commercial lines.
• Investment & Wealth Management Full suite of investment services including investment management, wealth management, retirement planning, estate planning, and succession planning, with financial advisors and access to Adviceworks client portal.
• Individual Retirement Account (IRA) Tax-advantaged retirement savings tool available in Traditional and Roth IRA variants, with tax-deductible contributions or tax-free qualified withdrawals.
• Health Savings Account (HSA) Tax-advantaged account for managing medical expenses with tax-deductible contributions, tax-free growth, and tax-free withdrawals for qualified medical expenses.
• School Spirit Debit Card Community-focused debit card program where Unity Bank donates $0.05 per purchase to the cardholder's local school district, with participating schools across multiple states.
• Consumer Loans Personal lending solutions including camper, motorcycle, recreational vehicle loans, boat loans, auto loans, home improvement loans, and credit cards issued through TCM Bank NA.
• Home Loans / Mortgages Mortgage products including conventional mortgages, adjustable rate mortgages, construction/permanent loans, government loan programs, condo financing, lot loans, and refinancing options, plus first-time homebuyer loans.
• Digital Banking / Mobile Banking App Personal online and mobile banking platform powered by Fiserv, enabling account access, transactions, transfers, bill pay, mobile check deposit, real-time alerts, and debit card management through iPhone and Android apps.
• Business Debit Mastercard Business debit card accepted worldwide wherever Mastercard is accepted, with EMV chip technology, fraud protection, and no-fee withdrawals at 37,000+ MoneyPass ATMs.

Quantifiable outcome

• Over $50,000 in scholarships awarded since 2020
• +4 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

AI capability1 record

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• FiservcoreTechnology or IntegrationFiserv powers Unity Bank's mobile banking app and related digital services. The partnership enables mobile banking features including account viewing, transactions, transfers, bill pay, mobile deposit, alerts, and debit card management.
• MoneyPasscoreTechnology or IntegrationMoneyPass provides the ATM network for Unity Bank, offering 37,000+ fee-free ATMs nationwide for Unity Bank customers.
• American Bankers Association (ABA)minorStrategic or Co-development PartnerUnity Bank partners with the ABA for the Teach Kids to Save Day initiative, leveraging ABA resources and educational materials for financial literacy workshops in local schools.
• Insurance Carrier PartnersminorOthersUnity Bank offers insurance services through partnerships with multiple carriers including American Modern, Badger Mutual, Bray Gentilly, Classic Collectors/Infinity, Dairyland, Foremost, Hagerty, Harleysville, King Town Mutual, North Star, Progressive, and RAM Mutual.

Scale indicators9 records

Recent moves15 records

Expansion highlights5 records

Direct peers

• Nicolet National Bank: Wisconsin-headquartered community bank that is the only party explicitly named in Unity Bank's M&A history (2015 branch divestiture). Operates a similar relationship-focused community banking model in overlapping Wisconsin and Minnesota markets with comparable commercial, ag, and retail product suites.
• Bremer Bank: Minnesota-headquartered community bank serving MN, WI, and ND with personal, business, and ag banking. Highly comparable to Unity Bank in product mix, branch-based relationship model, and Heartland-region focus, with a similar community-impact orientation.
• Merchants Bank (Minnesota): Employee-owned community bank operating across southeastern Minnesota and western Wisconsin with personal, business, ag, and mortgage lending. Closely matches Unity Bank in scale, regional footprint, and private/community-oriented banking model.
• Bell Bank: Employee-owned community bank headquartered in Fargo, ND, with full-service personal, business, ag, and mortgage banking across the Upper Midwest. Comparable in scale (~150+ branches), product breadth, and Heartland/Midwest community orientation.
• Tompkins Financial / Tompkins Community Bank: New York-based community bank holding company operating Tompkins Community Bank with personal, business, and wealth services. Comparable in scale, community banking orientation, and private company structure (notably also locally rooted with longstanding brand).

Regional players

• Glacier Bancorp: Montana-headquartered community bank holding company operating across 8 western states, including Montana where Unity Bank has its Polson branch. Overlaps directly in Montana ag and SMB banking with a similar community banking model, though substantially larger.
• First Interstate BancSystem: Montana-headquartered community bank with branches across MT, WY, ID, OR, WA, ND, SD, and NE. Direct geographic overlap with Unity Bank in Montana (Polson) and similar ag and SMB lending focus, but operates at materially greater scale.

Broad incumbents

• Heartland Financial (HTLF): Multi-state community bank holding company operating in MN, WI, and 10+ other states with a similar diversified product suite including ag, commercial, and wealth. Broader incumbent that competes with Unity Bank in Wisconsin and Minnesota markets.
• Old National Bank: Indiana-headquartered community/commercial bank operating across the Midwest including MN and WI, offering personal, business, ag, mortgage, and wealth services. Larger incumbent competitor in Unity Bank's Wisconsin and Minnesota footprint.
• Associated Bank: Wisconsin-headquartered regional bank providing personal, business, and commercial banking across the Midwest including MN and WI. Operates as a much larger community/commercial bank in the same core geography as Unity Bank.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/unitybanking
• LinkedInlinkedin.com/company/unitybanking

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Unity Bank