"Finding Solutions Since 1907"
Member FDIC
In 1907 a group of local businessmen founded Mitchell Street State Bank to serve the needs of the near south-side of Milwaukee. During the early part of the 20th Century, the area was populated by Polish and German immigrants. Mitchell Street State Bank helped many of these people buy their first home or start a business. To this day a significant number of our customers have relationships going back 50, 70, or even 80 years!
Toward the latter part of the 20th Century, the community began to evolve. Many of the Polish and German residents had migrated to suburbs south and west of Milwaukee. In their place, a large Hispanic population developed. This led to three major changes for Mitchell Street State Bank.
First, Mitchell began to open branches to serve its customers as they moved to new neighborhoods. In November of 2003, we opened a full-service branch on 124th & National in New Berlin.
A second change was in image. The Bank changed its name to Mitchell Bank to reflect its entry into new markets while keep its roots on Mitchell Street.
The third and final change is reflected in the commitment Mitchell Bank made to understanding the needs of, and serving, the growing Hispanic community.
As we look forward, we are committed to employing the same philosophy that we have been refining for the last 100 years.
Personal Banking
At Mitchell Bank we want to be your "Bank of Choice". No matter what your personal banking needs are we are sure to have something to fit those needs; whether it be checking, savings, personal loans, CD's safe deposit boxes or online banking with Bill Pay, Quickstart –24 hour telephone banking. We have the flexibility to serve you because we are a community bank. Our decisions are made locally by people who know what true customer service is. Call or visit us today to speak with one of our knowledgeable customer service representatives.
Business Banking
No matter what your business banking needs are at Mitchell Bank, we want to be your bank of choice. With many checking, savings, lending or cash management options you are certain to find a product that will fit your needs and helpl your business grow.
Addressing the Needs of the Latino Community
While the demographics have changed in the community since Mitchell Bank opened in 1907, our commitment to our neighbors has not. Over the years, the near Southside of Milwaukee has evolved from being a predominantly Polish neighborhood to one that is primarily Latino. Mitchell Bank has embraced these changes and has sought to address the needs of this community.
Many of the people in this community have never had a banking relationship. There are many reasons for this, and Mitchell Bank has attempted to deal with each of them. It has been our goal to expose people to the banking process who previously would not have been and to help educate them along the way.
•Individual Tax Identification Numbers
•International Transfer Account
•International ACH Transfers
•Community Mortgage Program
•Bilingual Emphasis
Individual Tax Identification Numbers
In 1996, the IRS began issuing an Individual Tax Identification Number (ITIN) to individuals required to file income tax returns, but who are not eligible for a Social Security Number (SSN).
An ITIN number allows people who do not qualify for an SSN to comply with the Internal Revenue Code, and pay taxes on any income they earn.
The final version of the PATRIOT ACT issued on April 30, 2003 also allows financial institutions and other agencies to accept an ITIN.
Mitchell Bank has become a certified acceptance agent of ITIN applications. This allows us to help educate customers about the need for an ITIN, and walk them through the application process right at the bank. During the eight months of the program, we have helped more than 600 people obtain a tax identification number.
International Transfer Account
Many of our customers routinely send money to support family members in Mexico and other parts of Latin America. Normally, international transfers come with enormous fees that eat up people’s hard-earned money. The International Transfer Account comes with an electronic access card. Our customer funds an account with Mitchell Bank, and whomever they designate can access the funds at ATMs around the world.
Not only does the International Transfer Account save our customers fees, but it is safer than many of the other methods available such as cash, money orders, etc.
International ACH Transfers
As a cost effective alternative to expensive wire transfers, you can now send money electronically to Mexico, Europe, and Canada via an ACH. An ACH (Automated Clearing House) is an electronic processing system. This is the same system used for direct deposits. An ACH provides a safe, easy, and cost effective way to send money directly to an account for family, friends, or relative in other countries.
Community Mortgage Program
One of our goals is to increase the percentage of homeownership in the communities we serve. We have sought to do this by creating innovative products, forming strategic partnerships, and educating our customers and neighbors.
Mitchell Bank has developed a Community Mortgage Program to assist those individuals that do not qualify for traditional mortgage products. The program offers special loan terms and qualifications to assist these customers in building a credit history and establishing a record of repayment.
Bilingual Emphasis
Mitchell Bank has made it a priority to be accessible to those members of our community who are not fluent in English. To accomplish this, we offer bilingual product brochures, we accept loan applications, and conduct loan closings in Spanish, and seek to attract and retain the best bilingual bankers in Milwaukee. More than 1/2 of our staff and three of our officers are bilingual.
Member FDIC
