PART OF MADISON'S "Team BankWest" gather in front of their company's sign. Pictured are (left) Jolene Winberg, Eric Anderson, Tom Kahler and Drew Pierson.
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.
“BankWest is big on partnering with communities that are growing, and Madison was an easy choice,” Tom Kahler, the branch manager at Madison’s BankWest, said.
Kahler notes that community involvement is important to BankWest, and has been since it first opened its doors in 1889. Through the years, their dedication to their communities became evident through their actions.
During the Great Depression of the 1930s, they, along with other banks across the country, were ordered to shut down, but they refused and kept their doors open for customers. In 1997, BankWest introduced online banking to allow customers to better access their accounts.
BankWest is also very much a family business. Five generations of the Burke family have been involved, starting in 1889 with Charles H. Burke. Currently, Charles H. Burke III is the CEO, and his children, Bob and Becky, hold positions within the bank.
In Madison, BankWest and its employees have dived head-first into getting involved. BankWest has sponsored local raffles, helped local families experiencing tragedies, funded FFA and more. Employees volunteer or hold positions in different local organizations like Leadership Madison.
“Community involvement is a priority for BankWest in order to continue to ensure the community succeeds and is prosperous,” Kahler said.
Madison’s BankWest has grown from two employees to six and opened many more personal and business accounts.
“Growth here has been very solid and significant,” Kahler said.
Eventually, the temporary office they have been working out of for the past few years will be replaced with a permanent structure at their current location, 1046 Makenda Ave.
Mostly, they are focusing on growing within the community of Madison.
“We want to continue to partner with businesses and individuals that want to partner with us,” Kahler said. “We really value the relationships we have. To us, they really mean something.”