Including Mankato, Fairmont, New Ulm, North Mankato, Amboy, Saint James, Sleepy Eye, Springfield, Madelia, Madison Lake, and 22 other towns.
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Banking in the Mankato Area
Mankato, Minnesota, is a small city noted for its robust economic performance and balanced industry year after year, for which it has won several awards and recognitions. The most recent award was in 2015 when it was ranked 39th on the Forbes list of the “Best small places for businesses and careers” in the United States. Additionally, Area Development magazine ranked Mankato as 7th on its list of the “Top 20 Small Cities for Economic Strength.”
The city of Mankato is nestled in the larger Mankato area, which spans a cluster of counties and adjoining cities. Some of the cities in this region are Fairmont, New Ulm, Saint James, Madelia and Springfield. Sleepy Eye, Saint Clair, Trimont, and Lewisville are in the Mankato area service range as well.
The Mankato metropolitan area has approximately 50 banking institutions and seven credit unions. These banks and credit unions provide a total of about 110 branches for customer use and offer a variety of services, including personal, business and commercial banking, mortgage and real estate loans, agricultural program financing and credit cards. Further, 22 banks and six credit unions are headquartered in the Mankato area, the most notable of which are Pioneer Bank of Minnesota, Community Bank Mankato, Profinium, Inc., and SouthPoint Federal Credit Union. Citizens Bank Minnesota is also headquartered here, and having been established in 1875, is the oldest banking institution in Mankato.