April 2009
Bremer Bank & Casa Grande Resort
Bremer Bank and Casa Grande Resort Cooperative Association undergo a major business transaction, in part due to the help of local residents Randy Pozniak and Gary Bigler.
Casa Grande Resort Cooperative Association
Casa Grande Resort Cooperative Association is a Dutch Corporation consisting of a seven member Board of Directors including Treasurer Randy Pozniak, International Falls native and resident. The 449 unit complex is a resort in Aruba with shareholders being timeshare owners and voting members for corporate elections. There are approximately 12,000 individual owners with Bluegreen Corporation being the largest single owner, owning approximately 20% of the rooms.
As a timeshare owner, Pozniak, a local CPA, was notified of two openings for the board of directors with the ideal candidate having accounting or financial background…a perfect fit. Pozniak was elected to a six year term on the Board of Directors in September of 2004 and approximately one year later was elected to the position of Treasurer.
In 2008 Casa Grande conducted a search to locate a new US bank. The search was quite lengthy in finding a bank that provided all of the needed services; starting with a list of twenty-two banks, narrowing the list to six, and then finally to three. The final three banks, including Bremer Bank, were interviewed personally by members of the finance committee consisting of Pozniak, a Budget Analyst for Bluegreen Corporation and a retired FBI Forensic Accountant. Local President, Gary Bigler headed up the Bremer presentation at the headquarters in St. Paul, Minnesota. Bremer was able to offer all of the required services and an additional service, a remote check depositing device allowing instantaneous deposits from Aruba to International Falls at a very minimal cost. In October of 2008 Bremer was selected as the resort's main US bank. Bremer's electronic services paired with the current FDIC rules and cross-charter investing will save the resort over $50,000 per year in bank processing fees and service charges. Although the transition required a multitude of paperwork with a foreign corporation doing business in the US, everything transitioned smoothly. Bremer in International Falls is the lead account in the Bremer system and all deposits go through International Falls.
www.lacabanabrc.com
Bremer Financial Corporation
Bremer Financial Corporation founded in 1943 by Otto Bremer is unique in its owner ship; co-owned by Bremer employees and the Otto Bremer Foundation, a nonprofit charitable trust - the only business structure of its kind in the nation. Today Bremer employs nearly 2,000 people at more than 100 branch offices throughout Minnesota, Wisconsin, and North Dakota providing a range of banking, investment, trust and insurance services. Bremer Financial Corporation is the 4th largest bank holding company headquartered in Minnesota and Bremer Bank of International Falls is the smallest of the 9 Bremer charters.
Because Bremer realizes their success is dependent upon the success of their communities, they make financial contributions in the form of grants from the Otto Bremer Foundation as well as donations from Bremer affiliates. The Otto Bremer Foundation created in 1944 gives more than $30 million annually to nonprofits to promote the economic advancement and success of their communities. Bremer Financial Corporation and the local charter had a very successful year in 2008, without any taxpayer assistance. Of the over $30 million in grants the Otto Bremer Foundation made in 2008, over $542,000 was received in this trade area. Locally, it was a record year, in addition to local bank donations and the hundreds of hours the 19 employees volunteer each year.
One of Bremer's strengths is focusing on relationship management, which ensures that they stay close to their clients and markets. They rely on local decision making, remaining flexible, and doing what is best for the customer. The key to Bremer Bank competing successfully with the original 22 banks was having the necessary products, gathering the product knowledge specialists, and the ability to remain flexible and react immediately.
The banking relationship with Casa Grande represents many firsts for the local Bremer Bank, not to mention a customer over 2800 miles away. It represents true evidence of the power of technology. The entire exercise was very complicated and challenging, but also a great deal of fun and a great learning experience. The impact of this new relationship to the local charter is significant. The new services and deposit balances provide additional funds and capital to invest in the local community. Relationships with customers like Casa Grande will help in Bremer's corporate goal to continue to Build Healthy Communities.
www.bremer.com
With a distance over 2,800 miles separating Aruba from International Falls it's quite amazing what can be accomplished with a combination of technology and local connections. Kudos to Gary Bigler and Randy Pozniak - this is a significant accomplishment for International Falls and Bremer alike. Bigler extends a special thanks to the members of the Casa Grande finance team (Randy, Brenda, and Gil) and commends how professional, helpful, and courteous everyone has been. In light of the recent business between Bremer Bank and Casa Grande, Bigler will be attending the annual stockholders board of directors meeting in September in Aruba.
