In North Minneapolis, efforts to strengthen the local economy often begin with organizations that know the community well and work closely with residents, families and business owners. U.S. Bank and the U.S. Bank Foundation support several of those efforts, providing philanthropy and community development financing to help expand access to small business resources, financial education and wealth-building opportunities.

Helping food entrepreneurs grow

One organization the bank provides support to is the Northside Economic Opportunity Network (NEON), which has been helping low- to moderate-income entrepreneurs in North Minneapolis start and grow businesses since 2006. Through trainings and workshops, business development and incubator programs, co-working spaces, and small business lending, NEON provides resources that help entrepreneurs turn ideas into thriving businesses.

With 40% of NEON’s clients working to launch food-based businesses, the organization’s leadership recognized the need for more shared commercial kitchen space to help food trucks, caterers, restauranteurs and others working in the industry cook and store their products safely.

“It's really an entrepreneurship hub where we expect people to come and start a business or grow their business,” said Felipe Galvan, the director of operations at NEON Collective Kitchens. “Having a space that’s already furnished and equipped puts them years ahead in their trajectory.”

NEON Collective Kitchens opened in spring 2026 and were designed with a focus on accessibility and affordability. Business owners can rent kitchen space by the hour, or set up shop in one of the restaurant stalls located in the 25,000-square-foot facility on an annual basis. Kitchen space is available around the clock to accommodate entrepreneurs who prepare their goods for farmers markets and other events, or to produce packaged food for commercial sale. Clients also have the opportunity to work with NEON business advisors to help with business planning and incorporation paperwork, along with other technical assistance.

U.S. Bancorp Impact Finance helped finance the project with more than $3 million in New Markets Tax Credit (NMTC) equity. Grant funding from the U.S. Bank Foundation went toward NEON’s capital campaign for the kitchens. Altogether, from 2021 to 2026, the U.S. Bank Foundation has given $885,000 to NEON. 

“It's community residents who intimately understand the challenges they experience, and they know the solutions that need to take place. U.S. Bank has the opportunity to show up by helping actualize that community vision,” said Lataya Allseits, community affairs manager for Minnesota at U.S. Bank.

Building wealth with families from the start

U.S. Bank also has played a key role in launching another North Minneapolis initiative. The Northside Achievement Zone (NAZ), a collaborative of more than 40 community-based organizations and schools, began its Wealth Builds Minneapolis program in 2025 to offer wealth-building opportunities on top of its cradle-to-career model of supporting youth and families in the community.

Developed by the Harlem Children’s Zone, Wealth Builds works to empower youth through financial literacy classes, leadership opportunities and asset-building investing, while engaging their families with coaching and parenting education to support scholars on their journey. NAZ aims to reach 1,000 youth and their families by 2027 so they have the opportunity to save for college or vocational training, build financial assets for the future, and gain access to products, services and resources that can help catalyze wealth generation and retention within the community.

“At NAZ, we believe every family deserves the opportunity to build wealth, create stability and shape a future where their children can thrive,” said NAZ President and CEO Sondra Samuels. “Wealth Builds Minneapolis is about turning that belief into action by connecting families with the resources, investments and support they need to build a stronger financial foundation. When we invest in families, we’re not just changing what’s possible today. We’re helping change what’s possible for generations to come. Working with U.S. Bank and the U.S. Bank Foundation helps us turn that vision into reality and move closer to a future where every North Minneapolis family has the opportunity to build and sustain wealth.”

Jasmine Haymer and her 3-year-old son, Charles, enrolled in Wealth Builds this year. Haymer has been involved with NAZ since her older son was young and jumped at the opportunity to join the program.

“When they introduced me to Wealth Builds, I was like, ‘Oh yes, it’s a no-brainer.’ I’m all about saving money and making sure that we are straight and don’t have to worry,” Haymer said. “Knowing that the college savings account is in place for when he does go to college or that he can take up a trade – it takes off some of the financial stress.”