Case Study:
Gowan Construction, Inc.

Company Profile

Gowan Construction, Inc. is a full-service general construction company headquartered near Oslo, Minnesota. The company was started in 1962 with two pieces of equipment and two employees. Today, Gowan Construction has more than 100 pieces of equipment
and employs 125 people at peak season.

The company completes a wide variety of projects, including road and highway reconstruction, airport reconstruction, bridge and box culverts, golf courses, railroad improvements, parking lots, wastewater collection systems, pump stations, ditching, and rural and urban flood protection. Gowan Construction also offers equipment rental and a heavy hauling service.

Situation

With its main office located out of town, banking was a bit cumbersome for Gowan Construction. “We needed a full-service bank, and that’s why we chose Alerus Financial,” says Milt Gowan, president of Gowan Construction. “Alerus has the processes, systems, and technology to meet our needs for remote banking. Plus, they’ve visited our office to train us.”

That personal relationship is important to Milt. “Our Alerus team is in regular contact with our management and staff,” says Milt. “They alert us to new ideas as well as changes both in the banking industry and in our industry.”

In today’s economic environment, such a relationship is more important than ever. “Alerus is financially strong, and we know that they will be there when we need them, helping us grow even in this volatile economic market,” says Milt.

Solution

Gowan Construction views Alerus as the leader in the banking industry. “Alerus is such a solid financial institution, with easy access to all of its people and resources,” Milt says. “From checking and savings accounts to loans to retirement plans to investments, Alerus does everything very well. They are always coming to the table with new ideas and innovation.”

Such innovation includes Alerus Financial’s Associate Advantage program for business customers, which enables Gowan Construction to provide additional value to its employee benefit package at no additional cost. Through the program, Gowan Construction employees can receive an interest-bearing checking account with no fees, financial projections and planning tools, one-on-one advice, mortgage fee discounts, and more, all free of charge to them.

“We’ve had a number of employees take advantage of the mortgage fee discounts, whether purchasing a new home or refinancing an existing mortgage,” says Milt. “Not only does Alerus care about our business, but they also want to take care of our employees as well.”

“Alerus has always exceeded our expectations in all aspects of banking,” says Milt. “Our success today is a direct result of Alerus.”

 

 

 

Gowan Construction, Inc.
Oslo, MN
www.gowanconstruction.com

Business Type

Construction   

Services Used

Commercial Banking
Business Checking
Online Banking and Bill Pay
Business Savings Products
Direct Deposit
Retirement Plans
Securities
Associate Advantage

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