North Dakota has more banks per capita than any other state in the country, and BND is a major factor in that impressive statistic. Regardless of their asset size, banks and credit unions have a higher capacity for lending by accessing BND’s programs. They do so without the concern that BND will compete with them and recruit their customer base.
Banks and credit unions are on the front line of economic development in communities across North Dakota. Relationships between financial institutions and their clients drive development, bringing new ideas and business options to Main and side streets. Lending to businesses so they are able to purchase inventory, equipment and real estate enables North Dakotans to make a living, hire employees, sell products and ultimately, help communities thrive.
The savvy business owner takes advantage of their business banking relationship, looking to their banker for input on streamlining payroll and payments, managing cash flow, saving money and strategically planning their next steps. If the business owner, farmer or rancher needs a loan and BND has a program to help build a better deal, the local lender facilitates the loan with BND.
The relationship between the local lender and BND is unique in our country. No other state has this option, and it means that North Dakota businesses have a unique, competitive advantage.
BND’s programs are created to encourage economic development. The delivery channel for these programs is through the local community-based lenders.
Correspondent services for local financial institutions
BND provides correspondent services to local banks and credit unions including ACH services, item processing, coin and currency services, Fed activity settlement, federal funds and sweeps, foreign drafts, and domestic and international wire transfers, Additionally, we offer bond accounting, collateral valuation services, executive analytics, government security purchases, letters of credit, and safekeeping.
BND offers basic checking and savings accounts directly to the public. The Bank does not own ATM machines. These are not advertised services, and individuals or businesses with an account at BND are not solicited for other banking services such as a loan so as not to compete with local banks and credit unions.
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