Treasury Secretary Timothy Geithner
Visits Park Midway Bank Small Business Customer

On January 28th, Standard Heating & Air Conditioning officials were alerted to the likelihood that Treasury Secretary Timothy Geithner would visit later that day. With quick preparation, members of this family-owned north Minneapolis business rolled out the welcome mat to give Secretary Geithner a tour of their new facility, a chance to meet with employees, and to see first hand what has made this small business a big success for 80 years.

The Secretary's trip to Standard Heating & Air Conditioning was coordinated through officials at Sunrise Community Banks. Sunrise Community Banks is comprised of Park Midway Bank, Franklin Bank and University Bank. We are certified by the U.S. Department of Treasury’s CDFI fund (Community Development Financial Institutions), and Park Midway Bank is Standard Heating & Air Conditioning's banking partner. The company recently moved into their new building and used the Bank’s New Markets Tax Credit financing.

"We had a meaningful dialogue," said Standard Heating co-owner Ted Ferrara. "Secretary Geithner spent time talking with our leadership and staff, and was genuinely interested in our business and what we had to say. He asked about our concerns, and what message we wanted him to take back to Washington." Ferrara continued, "We shared that we are seeing a better business climate emerging and are in an anticipatory hiring mode. We let him know that our financial needs are being well met through our banking partner. Our concern is for our customers—homeowners throughout the Twin Cities—to ensure their credit needs are being met. If our customers are financially healthy, we'll be healthy."

"It was a truly extraordinary day. A real thrill." said Ferrara. "We are grateful to our partners at Sunrise Community Banks not only for their ongoing financial support and expertise, but for helping make this amazing day possible."