Tellers prayed with depositors at the drive through window. People were healed in the lobby by the laying on of hands. Some 60 people were “born again” in this bank. Your loan officer prayed with you when you applied for a loan. We don’t know how many non Christians got loans.
The bank has been under investigation for some time now:
Last spring a small news story appeared in the Star and Trib sighting the fact that the bank was being investigated by the FDIC for shoddy banking practices. Amongst other things the FDIC said the bank had poor oversight by the board and a number of questionable loans. In other words they were running their bank like a club house and giving out loans based on faith not fact.
And now, the bank has had to be bailed out by the FDIC:
20 million dollars of FDIC money will be required to bail out Kiffmeyers bank. It’s one of only 6 banks in the state to fail.
What’s particularly amazing about this to me is that with any other bank, Kiffmeyer and her fellow conservatives would rail against the FDIC’s intervention as “socialism” and a “government takeover.” But they don’t seem to object when it comes to their own bank.
“Chuck Ripka — president of Rivers International bank in Elk River, Minnesota, and Ripka Enterprises, an import-export business — says fusing business with ministry was always part of his vision. Before he founded the bank in 2003, Ripka says God told him: “Chuck, I want you to pastor the bank, and I’m going to use you as a model of what I can do. If you do all the things I’ve called you to do, I promise you I’ll take care of the bottom line.”
In Ripka’s three years there, the bank exceeded financial expectations by reaching $132 million in net worth. But Ripka became better known for praying with customers and others, including a New York Times writer who accepted Christ after interviewing him. The author of God Out of the Box, Ripka says dozens of people have been saved” and healed at the bank, where tellers not only service accounts but also pray with customers. “My goal isn’t becoming rich,” Ripka says. “It’s sharing the riches of Christ with others in the marketplace.”
OK, so the banker wanted to save souls, not operate as a viable bank.
Kind of a funny way to do it.
Bottom line: I have to wonder if Jesus saves, or if the FDIC does?
Wondering what the bank's name was…. bizarre to say the least.
Riverview Community Bank in Otsego, MN.
http://minnesotaindependent.com/35983/kiffmeyers-...
It's too bad that you are more excited to celebrate the failings of a Republican than find compassion for the bank's customers and the community of Otsego.
The community of Otsego is a hellhole. She obviously didn't pray hard enough….OR….is there NO GOD?
There is a God. Just not the God they prayed to.
When any republican expresses compassion for the millions of displaced and hundreds of thousands of dead in Iraq, we can talk.
Ever hear of Ron Paul.
I am heartened that we are all supposed to FEEL for investors.
(Please note: I am crying as I type this!)
Apparently the bank owners didn’t - not enough to be concerned about being viable!
We should feel for those who wanted the separation of being a reborn bank.
We are supposed to feel for those scammed & left holding.
We should be happy the FDIC likely picked up the losses during its failure.
WE are always to blame for caring too much, or not enough. SOB.
Maybe you should read my post which expressed sympathy for the bank's customers and the community of Otsego.
What is most shocking is that the founder of the white supremacist group, Minnesota Majority, hasn't found a way to blame the failure on minorities.
Jeff Davis founded Minnesota Majority. http://www.minnesotamajority.org
I stand corrected Dan! Se was the former chief executive of the white supremacist group, Minnesota Majority. Not a co-founder. Good catch!
What sort of premium item/free gift do they give you for opening a new account?
Nikki: You get a waffle maker that imprints Jesus's face on your waffles.
I know a woman who got her loan there. It was known to be easy to get a loan there. They did not do a very thorough exam of her finances so she qualified. She said it was weird when they prayed over her application but she said she didn't mind as long as she got the loan. Mary Kiffmeyer is listed as owner and director on the public disclosure site for government officials. A failed bank is a nice addition to a resume. And why has the Star Tribune removed her name from the article they published? It was in it, now it's not.
“Libertyforall” - where am I supposed to read your post again?
Or you mean the one referring to Ron Paul?
This bank opened with fanfare. Its closing was done as a whimper.
The failed model needs to be seen for what it was.
The hype examined.
Ron Paul opposed the war - but not because of compassion for its victims. Since Paul is a known racist, I wouldn't expect much either.
Mary Kiffmeyer was associated with Minnesota Majority for a month or two as a consultant.