12 Mai According to the financial ‘ s webpages, “[i]t is never ever meant for BND in order to compete with or change present banking institutions
The lending company are working in one another lead lending and contribution money (lending by the financial as a result of contribution having another financial institution), which have an emphasis to your latter
As an alternative, Bank away from North Dakota was created to mate along with other financial establishments and you may let him or payday loans in Attalla no credit check her for the meeting the requirements of new citizens away from Northern Dakota” (
North Dakota laws needs all county loans to-be placed inside the lending company (N.D. Cent. Password, § 6-09-07). All the dumps was guaranteed by condition as they are exempt from every state, condition, and you can municipal taxation (id. § 6-09-10). Most of the lender ' s places come from income tax collection and you will state charges. Approximately step one.5% of the places come from its minimal retail financial characteristics, such as checking, discounts, and you can licenses off put (Bank off Northern Dakota Frequently asked questions in the p. 2 (hereinafter BND Frequently asked questions), attached to that it report and offered at
During 2009, the financial institution got a loan portfolio more than $dos
BND comes with the statutory expert to engage in multiple banking facts. The emphasis is actually money for economic innovation. The financial institution also offers industrial financial support programs to possess agriculture, ranching, small company, start-up people, people advancement, and other portion.