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Lake Elmo Bank: A community cornerstone for over 100 years
Lake Elmo Bank has been supporting its local communities for more than a century, and its quality services shine brighter than ever with new ways to stay connected.
The bank, originally named The State Bank of Lake Elmo, was first chartered in 1911 by a group of farmers and local business owners. And today, a portion of the bank is owned by its more than 100 employees through an employee share option program.
Lake Elmo Bank offers a multitude of services one may not expect to find at a community bank. In addition to personal checking and savings accounts, it also offers credit and debit cards, business and personal loans, youth and senior banking and health savings accounts.
Not only that, but Lake Elmo Bank also has departments dedicated to trust and estate services and personal and business investment services.
“Very few banks, especially smaller banks like us, have departments for investments and trusts,” Lake Elmo Bank President Dan Raleigh explains.
The experienced trust and estate services team works with attorneys and accountants to manage funds and protect assets. Services include revocable living trusts, conservatorships and much more.
Personal investment services available through Lake Elmo Bank include retirement planning, stocks and bonds, and college savings plans.
With three locations in Lake Elmo, Oakdale and Stillwater that include lobby hours as well as ATMs and drive-through or walk-up kiosks, Lake Elmo Bank is convenient for customers to receive in-person service.
For those on the go, Lake Elmo Bank also offers secure mobile and internet banking options, which are available at the click of a button 24/7.
Lake Elmo Bank’s encrypted mobile banking application is available for both Android and Apple devices and is quick and easy to install.
Additionally, Lake Elmo Bank customers have access to an extensive network of over 13,000 surcharge-free ATMs in the U.S. These ATMs can be located on-the-go from a mobile application as well.
“We’ve always been strong on electronic services for a community bank,” Raleigh says. “And we have live people to back up our internet and card services, unlike larger banks.”
Lake Elmo Bank maintains its connection to the community by supporting local businesses and providing opportunities for residents to interact with employees in a casual setting.
The annual Lake Elmo Bank Community Day takes place in September, this year joining forces with the city of Lake Elmo during Lake Elmo Days. The free picnic is held in the parking lot of the bank’s main office and usually draws more than 1,000 people.
To learn more about Lake Elmo Bank, stop by one of its three locations or visit them online at www.lakeelmobank.com.