Alerus Financial Bank Rates & Review

Alerus Financial Bank Review

While most banks promise full services and individual attention, Alerus Financial is more than just a bank. This financial services company provides its customers with estate and retirement planning along with the basics like checking and savings accounts.

Alerus Financial's roots go back to 1879, when it was the second bank to be chartered in the Dakota territories. The company re-established itself in 1933 as an independent financial services company providing banking and wealth management services in the U.S. and globally, with headquarters in North Dakota. In 2009 Alerus Financial expanded to Arizona, adding to its locations in Minnesota and North Dakota.

One-stop banking service

Alerus Financial provides a one-stop place for money management. Depositors and investors alike can keep their funds in the same place where they meet with an advisor to discuss saving for college and retirement or developing a trust and estate plan.

Customers can use online banking services to open checking and savings accounts and to manage their money transfers and bill paying.

Personal banking options

Alerus Financial offers their customers a wide range of personal accounts, including a variety of certificate of deposit (CD) maturities ranging from 6 to sixty months. Savings accounts include traditional savings and money market accounts.

There are several checking account choices, including accounts specially designed for students, people who need to establish credit and customers over age 50.

The Better Business Bureau gives Alerus Financial an A rating. Deposit accounts are FDIC-insured up to $250,000 per depositor as of July 2010.