December 13, 2016 - Bremer CDE, LLC, a subsidiary of Bremer Financial Corporation, was recently allocated $40 million in New Markets Tax Credit awards from the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund).
With this allocation, Bremer CDE and Bremer Bank will work with organizations and investors to fund economic development projects throughout Minnesota, North Dakota and Wisconsin – with a specific focus on helping to bring community, healthcare and manufacturing facilities to rural counties.
“This allocation delivers on our vision to strengthen communities across our footprint,” said Jeanne Crain, CEO of Bremer Financial Corporation. “By focusing on community, healthcare and manufacturing projects, we are demonstrating our commitment to build long-term relationships in the communities we serve.”
The CDFI Fund has awarded $50.5 billion through the New Markets Tax Credit program since 2000, generating more than $42 billion in investments in low-income communities and businesses.
For more information, go to Bremer.com/CDE.
Bremer Financial Corporation is a privately held, $12 billion regional financial services company jointly owned by the Otto Bremer Trust and Bremer employees. Founded in 1943 by Otto Bremer, the company is headquartered in St. Paul, Minnesota and provides a comprehensive range of banking, mortgage, investment, wealth management, trust and insurance products and services throughout Minnesota, North Dakota and Wisconsin. Clients include small businesses, mid-sized corporations, agribusinesses, nonprofits, public and government entities, and individuals and families.