Minnesota Credit Unions



During this COVID-19 pandemic, credit unions are creating new programs to meet their members’ changing needs. In response to these unprecedented circumstances many Minnesota credit unions are currently offering their communities:

  • Up to 90-Day deferment on loan payments including mortgages
  • Skip-a-pay programs on auto and home loans and credit cards
  • Short term, low interest, small dollar loans
  • Access to equity on auto loans
  • Up to 90-Day no payment on new auto loans
  • Waived fees for early CD withdrawals
  • Waived fees on overdrafts and other services
  • Lower interest rates on loans
  • Emergency hardship loans
  • Extended due dates on collections
  • Employee Assistance Account for emergency funds
  • Financial counseling for members to assist with debt consolidation and protecting their credit
  • Developed innovative ways to serve members safely
  • Donations and assistance to local community organizations

The Better Choice for Minnesota Families

No matter what life brings, Minnesota’s credit unions have always been there to help strengthen the financial lives of individuals, families, and businesses across our state. Credit unions are not-for-profit financial cooperatives owned by and operated for the benefit of members they serve. Stronger Credit Unions make Stronger Communities.

This is why credit unions embrace their role in ensuring economic prosperity and fairness for everyone, including addressing the systematic socioeconomic disparities and inequalities in our communities. Our Plan for Better Communities confronts this challenge by:

Ensuring access to affordable financial services

  • Helping more Minnesotans own a home and send their children to college via lower-cost home and student loans;

  • Providing affordable financial services to more Minnesotans, especially for underserved and diverse communities in rural and urban areas;

  • Ensuring that all Minnesotans have access to a not-for-profit cooperative choice when it comes to their families' financial futures;

  • Protecting families from predatory lenders by providing low-interest and responsible short-term loans when hit with unexpected medical debt, surprise medical billing, job loss, or other emergencies;

Putting Members and Communities First

  • Providing financial literacy educational opportunities to empower all members of local communities understand how to manage their finances and build wealth at every stage in life;

  • Ensuring their members’ personal financial data is secure and their privacy is protected against hackers and other bad actors;

  • Investing more in the local communities they serve, growing the local economy by expanding small businesses loans, and empowering job growth

The Credit Unions' Plan for Better Communities is a common-sense, bipartisan set of solutions to transform the financial lives of all Minnesotans.

David S First Alliance Credit Union
Michelle L Minnco Credit Union

Advancing Minnesota Communities Through:

1.9 Million
Credit Union Members
$2.7 Billion
Economic Impact
Credit Unions
$171 Million
in Benefits for Minnesota Consumers
Annual Benefits Per Household