Building communities a block at a time

Since Great Southern was first founded in downtown Springfield in 1923, its owners and management have recognized the importance of being a vital part of the community. Today, the commitment to community is stated very simply in our mission statement, to “build winning relationships with communities”. Our company’s leadership understands that we can only be as strong as the communities we serve.

Great Southern is the only financial institution in Springfield with a locally-based community development department.  By having a staff specialist involved in the community, the company better understands the needs, and can help leverage the resources of our company to meet those needs. In addition, the bank has a Community Advisory Board of civic and non-profit leaders to help make sure they are meeting their responsibilities.

 

Loans and Investments

One of the ways that community development works best is when it can be supported through traditional banking products and delivery channels. For a community to grow and thrive, it needs access to capital.  Great Southern has focused on providing needed capital to consumers, business, and communities for nearly 80 years. As one of the largest lenders in the markets we serve, we provide loans for homes, starting or growing a business, or to construct subdivisions and apartments to provide housing. We offer an array of products that help our communities grow and thrive.

Great Southern can meet the lending needs of the communities it serves, whether for large affordable housing projects, to complex historic rehabs. Through our efforts to become a “one stop shop” for developers of older properties, we can provide construction lending, “bridge loans” for tax credits, and provide equity through the purchase of tax credits.

We also know not all  projects can be facilitated by a loan, so have committed millions of dollars of investments to meet community needs through low-income housing tax credits, and capital to community development corporations that are revitalizing communities large and small through their own lending and investment efforts.

 

Great Southern Caring & Sharing

Caring & Sharing is the company program that encourages our associates to become more involved in the communities they serve. We provide our associates up to two paid hours off per month to volunteer to make their communities stronger, and also participate in company-wide volunteer projects such as the United Way Day of Caring, and the American Cancer Society Relay for Life. We also hold a Caring & Sharing Casual Day where associates “pay” to dress casually about once a month. The money raised goes to target charitable organizations, and annually gives over thousands of dollars to worthy organizations from our associates.

Caring & Sharing also reflects our charitable spirit. We are fortunate to have so many worthwhile charitable organizations in our markets that truly make a difference every day in the work they do.Annually, we contribute more than $300,000 to these organizations to help them with their work. We give special consideration to those organizations where our associates provide volunteer time and leadership. We know that it takes both monetary resources and hard work to effect community change.

 

Great Southern Community Development Corporation

In 2004, Great Southern became the only financial institution in Springfield with a locally-based community development corporation (CDC) subsidiary. CDC’s have been in existence for nearly 50 years to address underserved areas and populations. Bank-owned CDCs first came to prominence in the late 1970s, and have become increasingly effective in bringing capital and unique banking products and services to disadvantaged neighborhoods and people. Through CDCs, banks are allowed to enter into non-traditional ventures to benefit the public interest.

Great Southern CDC has the capability of developing projects involving new construction for non-profits, or rehabilitating residential properties in underserved neighborhoods. The CDC allows the company the flexibility and investment capital to help build communities in non-traditional ways.

 

Partnerships

One of the most important factors in the success of Great Southern Community Development is the partnerships we have built over the past several years. Banks can bring much needed capital and financial expertise to community needs, but we also realize that we cannot have the desired impact without experienced non-profit partners. After all, these partners are the ones who ultimately bring the services necessary to meet community needs.

Through creative and innovative partnerships with our non-profit community, we have supported poverty alleviation, educational initiatives, minority outreach, and financial literacy to many of our communities.

 

We understand that our company can only be as strong as the communities we serve, and demonstrate that commitment by having the only locally-based community development department in the Ozarks.