The community of Madison boasts seven banks or credit unions within its borders. One of the newest in town is BankWest, located on the south side of Madison on the bypass. BankWest has had customers in the Madison area for well over 10 years, but it didn’t start operations here until 2019, when it established a lending office. On Aug. 24, 2020, the South Dakota Division of Banking director Bret Afdahl signed the Madison branch’s certificate of authority, allowing BankWest to operate as a full branch bank. After a few months of preparation, BankWest opened as a full service branch on Nov. 4, 2020.