Medica Deposits $500,000 in Reserves at Two St. Cloud Banks to Support Local Economy

American Heritage National Bank and Kensington Bank Fund Local Loans

 Minneapolis—Medica, a non-profit health insurer, has selected two banks in St. Cloud to deposit $500,000 of its reserves. American Heritage National Bank and Kensington Bank each will receive $250,000 from Medica. The money will be used by the banks to fund loans to local farmers, small businesses and individuals in St. Cloud and communities where the banks have local branches.

American Heritage National Bank has locations in Avon, Browerville, Clearwater Long Prairie and St. Cloud. Kensington Bank has locations in Belgrade, Cokato, Elrosa, Herman, Kensington. St. Cloud and Willmar.

Medica has selected more than 80 banks throughout the state of Minnesota in which to deposit a portion of its reserves. Banks were selected for the deposits based on the local economic needs of the communities they serve.

“This is exactly the kind of impact we envisioned when we developed our approach to banking locally,” said John Naylor, Medica’s President and Chief Executive Officer. “Our goal is to give community banks more resources to support families and small businesses in our communities.”

Under the local banking program, Medica will deposit more than $20 million of its reserves in local community banks throughout the state. Medica is supported in this effort by the Independent Community Bankers of Minnesota (ICBM).

Medica is committed to supporting the communities it serves. In addition to the $20 million made available through the localized banking program, the Medica Foundation provides about $2 million in grants to non-profit organizations in its service area to support the work they do to address health care issues in their communities. Medica’s annual report, which includes the organization’s community involvement activities, is available online.

About Community Banks

Community banks channel their loans to the neighborhoods where their depositors live and work, which helps local businesses and communities thrive. According to the Federal Reserve’s “Small Business Credit Survey: Report on Employer Firms,” community banks are the small business lender of choice. Community banks comprise 99 percent of all banks, provide more than 60 percent of all small business loans and make more than 80 percent of agricultural loans. Moreover, community bank officers are typically deeply involved in their local communities.

About Medica

Medica ( is a non-profit health plan headquartered in Minnesota. The company serves communities in the heart of America by providing health care coverage and related services in the employer, individual, Medicaid and Medicare markets. It operates in Minnesota, Iowa, Kansas, Missouri, Nebraska, North Dakota, Oklahoma, South Dakota and Wisconsin.

Medica’s vision is to be trusted in the community for our unwavering commitment to high quality, affordable health care.

About Independent Community Bankers of Minnesota

The Independent Community Bankers of Minnesota ( is a Bloomington, Minn.,-based trade association that provides community banks with the resources and advocacy they need to remain independent, grow their banks, and benefit their communities. Founded in 1962, the word “community” is in ICBM’s name to emphasize the unique role of community banks in thriving local economies, families, schools, and businesses. ICBM is the only state association comprised solely of independent, community banks.

ICBM’s vision is that every hometown in Minnesota will benefit from the positive impact of a local community bank.

Media contacts:

Medica                                                                                                 Independent Community Bankers of Minnesota
Greg Bury                                                                                            Matt Doffing
(952) 992-8437                                                                           (651) 789-3988