As it has been from the beginning, our purpose goes far beyond profit. We believe PurposeBank can, and should have a positive impact on the communities we serve.
We show commitment to our communities by supporting small businesses, hiring locally, engaging in local politics, donating to non-profits, volunteering our time, and doing all the critical things that make our neighborhoods more enjoyable. In addition to these efforts, PurposeBank also donates 10% of its profits back to local organizations working to promote, educate, and increase economic vitality in local individuals and women.
To provide intentional banking for a greater purpose.
The Story Behind PurposeBank
Our story begins in 1884 along the cobblestone streets of Ogden, Iowa. It was here where a private bank, which would later be known as VisionBank, opened its first branch, offering a safe space for locals to store their gold and silver. Over the next century, the bank grew to hold over $600 million in local deposits and become a part of the fabric of the Central Iowa community.
In November 2021, VisionBank was classified as a Women Depository Institution (WDI). This designation prompted discussions among VisionBank leaders who decided they no longer wanted to just do work - they wanted to do good - they wanted to contribute to their greater purpose. And thus, the notion of PurposeBank was born.
With PurposeBank, we aim to provide financial education, promote banking services, and be a stable source of funding to entrepreneurs, women owned businesses, low- to moderate-income individuals, and majority minority groups throughout Central Iowa.
PurposeBank was created by open-minded bankers who want people to know that where you keep your money matters. It is designed to be a form of crowdfunding for the advancement of financial confidence and accessibility. You can contribute simply by keeping your money in a bank with values that create a better banking world. We can do this, together.