In 2024, the Minnesota Precision Manufacturing Association (MPMA) experienced significant change and growth. Earlier this year, we became independent of our association management company, Jaffe. We also received $800,000 in grant funding from the state through a campaign called Drive for Five to promote the manufacturing industry to underrepresented groups. Through that funding, we hired another full-time staff member, increased our event and marketing spending, and
are in pursuit of making “Minnesota Manufactured” a household catch-phrase across the state.
A strong partnership with CorTrust Bank, MPMA’s bank, has been crucial throughout all the good changes happening within and around MPMA this year.
Brenda Hawley, the events manager here at MPMA, said CorTrust Bank’s customer service was second-to-none in January when MPMA became independent of its management company.
“They came in person to our offices to make sure we were up and running,” Hawley said. “We had a few hiccups and they were right there to help us. Their hands-on support really displays the level of commitment CorTrust Bank brings to its relationships.”
Over the years, CorTrust Bank has been more than just a financial partner for MPMA; they’ve been a pillar of support through every stage of our transformations. From ensuring a smooth transition from Jaffe to actively participating in sponsorship opportunities, CorTrust has demonstrated a deep commitment to the success of Minnesota’s manufacturing industry.
CorTrust Bank is a fourth-generation, family-owned community bank that’s been around since 1930 and has 37 locations throughout Minnesota and South Dakota – 15 Minnesota locations and 22 South Dakota locations. They pride themselves on the relationships they maintain with every customer – because when you need to get ahold of your bank, you typically don’t have time to wait around.
“Our relationship with CorTrust Bank goes beyond transactions – it's about trust and shared vision,” said Steve Kalina, President and Executive Director of MPMA. “Working with Jeff Wosje, Brian Whitemarsh, Brent Mitchell, and every CorTrust teller and support person has been an incredible experience. Their dedication to understanding our unique needs and responding to our questions right away has been really helpful.”
Brian Whitemarsh, a commercial lender who manages the bank’s Woodbury branch, first became involved with MPMA in 2018. He said that as a community bank, they’re focused on smaller businesses, but because of CorTrust’s size, they also have the ability to grow with them.
“It’s rare that our clients would outgrow us,” Whitemarsh said.
Whitemarsh said he loves working with manufacturers because it’s extremely rewarding to support small businesses in their growth. One client, he said, was operating out of their house building machinery and cash-flowing on their own. They had a successful product, but they needed to move into a significantly larger building.
“Their projections made sense, so we were able to approve them to get into that building and watch them fill it up, watch their financial statements grow, and then talk of further expansion,” Whitemarsh said.
Because CorTrust is family owned with hometown roots, it still feels like a friendly midwestern bank without the constraints of a small bank. What started as an operation serving the needs of local farming families in Artesian, South Dakota, has today grown into a bank with $1.60 billion in assets, and $165 million in equity and reserves.
“Whether you’re in need of a banking partner or seeking financing, CorTrust is a partner that can meet you where you’re at and grow with you,” said Kalina. “Having a good relationship with our bank has been extremely important in making our association run smoothly so we can best serve our members.”
CorTrust works hard to find personalized and unique financing opportunities for its customers, and to make sure its banking customers – like MPMA – are thoroughly taken care of.
“That’s what we do. That’s our niche. We’re really customer-service focused,” Whitemarsh said. “Anytime one of us gets an email from a customer, it goes to the top of our list. We can fill out paperwork later, but our clients are busy and they have other more important things to do than wait for a response to us.”
As we continue to navigate this period of change, having a reliable partner like CorTrust Bank has been invaluable. The bank’s dedication to understanding and meeting our needs has allowed us to focus on what matters most: growing Minnesota’s manufacturing industry and supporting our members. With CorTrust Bank by our side, we are confident in our ability to lead the industry into the future.
Supported by an $800,000 Drive for Five grant from the Minnesota Department of Employment and Economic Development (DEED), the Minnesota Manufactured campaign focuses on outreach, recruitment, and retention strategies to expand the pool of qualified candidates. The funding will help connect employers and students with training programs and other educational opportunities throughout Minnesota.
In addition to engaging thousands within the community, the initiative aims to serve two hundred participants and upwards of fifty employers through job placement, diversity, inclusion, and retention services, enhancing the manufacturing talent pool for long-term success.
Strong partnerships with businesses like CorTrust have empowered us to pursue bold initiatives like the Minnesota Manufactured campaign.
This article is a paid advertorial. To learn more about CorTrust Bank, visit cortrustbank.com.