We believe long-term success requires a willingness to continuously evolve and adapt. We are committed to identifying and implementing initiatives that support our role as a community-focused bank and deliver added value for our clients, employees, and shareholders. We pledge to be responsible stewards of the environment, to foster diversity and inclusion, and to uphold the highest standards of corporate governance. We continuously support initiatives and efforts that positively impact our communities and foster responsible operations.

Environmental responsibility

We seek to improve the sustainability of our operations and use resources thoughtfully.

• • Evaluated existing office spaces in 2023 to optimize the company’s footprint
  • Relocated in-house data center in 2023 to a dedicated data center that utilizes renewable energy as part of its energy mix
  • Reduced paper usage from more than 2 million pieces each quarter in 2018 to fewer than 1 million pieces per quarter in 2023
  • Recycled all unneeded IT equipment following bank acquisition in 2022
  • Enhanced digital banking services in 2022 with the addition of peer-to-peer payment service for bank clients and emergency savings account product for retirement plan participants

   

Accountable governance

We maintain the highest standards of transparency and accountability, ensuring our stakeholders have full confidence in our operations.

• • Established a risk committee to oversee and guide companywide risk management, including comprehensive data management and risks from cybersecurity threats
  • Conducted review and renewal of code of business conduct and ethics policy in 2023 to ensure expectations for honest and ethical conduct are communicated to company officers, directors, and employees. Compliance is reinforced and tracked through annual training and testing, and supported by a robust whistleblower policy
  • Emphasize diversity among executive leadership and corporate board members, as illustrated by 39% of executive leadership and corporate board positions being held by women in 2022
  • Monitor and track compliance with nondiscrimination policy to ensure equal opportunity for employment and advancement and equitable treatment of all clients

Community and social impact

Alerus champions diversity, equity, and inclusion, both within our organization and in the communities we serve.

• • Contributed over $940,000 to organizations, events, and charitable causes across the company’s footprint in 2022; 75% of contributions were Community Reinvestment Act-eligible
  • In 2022, employees volunteered over 1,700 hours at more than 100 local non-profits and community organizations
  • Expanded volunteer program in 2023 to provide unlimited paid time off for employees who volunteer at charitable organizations during regular work hours
  • Provide companywide diversity training and recognize cultural holidays throughout the year
  • Administer employee-funded program to provide financial assistance for employees or immediate family members experiencing hardships
  • Updated My Alerus interactive online tool in 2022 to provide clients and employees with simplified steps for financial planning, debt management, and budgeting
  • Empower individuals nationwide to prepare for retirement by providing retirement plan services, serving more than 450,000 plan participants in 2023
  • Provide local schools with access to financial literacy materials and offer educational presentations for high school students
  • Eliminated non-sufficient funds fees and updated overdraft program fees in 2022 to benefit consumer and small business clients
  • Provided $15.3 million in community development loans in 2022
  • Committed approximately $10 million for low-income housing tax credits in 2022