Established on 08.27.2021 by Carl '56 and Ruth Nelson †
Carl A. Nelson graduated from Concordia College in May of 1956, after which he returned to a summer job with the U.S. Forest Service. He believed that being drafted into the army was imminent and it was difficult getting a job interview with the army obligation hanging over his head.
In September 1956, he accepted a position with the Comptroller of the Currency as an assistant national bank examiner where he worked until June of 1957 when he was drafted into the army. He served his country for two years, was honorably discharged and then returned to his job as an assistant examiner within the 9th Federal Reserve District.
In 1960, Carl moved to Washington, D.C. and accepted a position as an administrative assistant to an assistant chief examiner. He passed the required test to become a national bank examiner in June 1963, after which he returned to Minneapolis and took charge of examining various banks, mostly in Minnesota. The apex of his examining career was working as an “examiner in charge” of Northwestern National Bank and First National Bank of Minneapolis. In this position, he served as the supervisor of 50-60 examiners.
Carl left the Comptroller's office in April 1971 for an opportunity to acquire a 50 percent interest in Randall State Bank in Randall, MN. The bank was in distress because of bad loans and Carl was able to correct those deficiencies in two years’ time. He sold his interest in the bank in June 1971 in order to accept an employment offer at Marquette National Bank in Minneapolis, MN.
At Marquette, he was hired as vice president in the commercial loan department and, in 1976, became head of the commercial loan department as a divisional vice president, where he supervised over a dozen credit officers and credit analysts. He also served as chairman of the loan committee.
In 1986, Carl became chief loan administrator for Pohlad banks, which operated a network of financial institutions in multiple states. He served on various loan committees and plotted strategies for exiting “problem credit” accounts as well as managed numerous loan portfolios.
During his tenure at the bank, he also performed credit reviews on potential acquisitions for companies located in San Antonio, TX, Beverly Hills, CA, Omaha, NE, and numerous other locations. Carl retired in December 1991.
Carl married Ruth McCarville in 1972. They have one daughter, Erin (Nelson) Steckler, who is a career banker, a son-in-law, Jon Steckler, who is an attorney, and one granddaughter, Sadie. Carl’s personal interests include fishing, hunting, gardening, golf, and reading. He and Ruth have established this scholarship in appreciation for the valuable experiences that Carl had at Concordia College. Concordia is where he gained direction which helped him to become goal-oriented in his adult life.
The Carl ’56 and Ruth Nelson Endowed Scholarship will be awarded to students majoring or minoring in any business program offered within the Offutt School of Business.
† - Testamentary endowments may not be contributed to until they are fully established.