Proud to be Serving the Brainerd Lakes Area!
Brainerd Savings will celebrate its’ 95th anniversary in 2017! We are proud of our rich history in service to our members and friends in the Brainerd Lakes area. We have made a strong commitment to our members and community during times of war, depression, recession, economic prosperity and economic turbulence. We have done so gracefully, with our primary concern being that Brainerd Savings remain a stable provider of financial safety, stability and opportunity to our members, while giving back to the community in which our board and employees live and raise families. Our focus has been directed towards the Brainerd Lakes area only.
While our mission is simple, our Mutual structure is complex in that we look and act like a credit union, for the benefit of our members, and offer the same products and services as a commercial bank. As a Mutual Savings & Loan, our members are our owners. Like a credit union, we strive to give our members the best possible financial support and services at a fair price. Unlike the credit union industry, we also support our government(s) by paying our fair share of taxes, just like a commercial bank and everyone else in the United States.
As a Mutual Savings & Loan, we do not have shareholders or owners demanding dividends or returns on investments as required in the commercial bank structure. We return those profits back to our members and community.
We are complex if you don’t understand the Mutual philosophy. This complexity makes a 30,000 foot view, throw- all- the- numbers- on- a- spreashieet comparison of a 1,000 different financial institutions across the USA comparison a dangerous and unfair activity. Brainerd Savings is regulated by the Office of the Comptroller of the Currency (OCC) and is a member of the Federal Deposit Insurance Corporation (FDIC). In this age of information technology and complexity, I caution our community and members to educate, evaluate, investigate and consider every piece of information available to them prior to making important decisions or judgements. Independent, thoughtful consideration is crucial in weighing in on financial strengths; every bank, every household, every person is different! Get to know us! You will see the many strengths we possess …. and you will love us, just as our members have since 1922!