Minnesota Credit Unions

As member owned, not-for-profit financial cooperatives, credit unions provide affordable financial services and put members and communities first.

2 Million
Credit Union Members
$2.7 Billion
Economic Impact
$196 Million
in Benefits for Minnesota Consumers
$214
Annual Benefits Per Household
14,473
Jobs
94
Credit Unions

Credit Union Stories

Impact Report

In 2021, Minnesota credit unions provided $196 million in direct financial benefits to their members – the equivalent of $102 per member or $214 per member household.

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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. 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. Credit Unions address these challenges and advance Minnesota’s communities by:

  • 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.
  • 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.

By providing more access to affordable financial services and investing locally, credit unions help more Minnesotans own a home, build assets and pay for their children’s education.

Nationwide poll confirms credit unions are better at improving financial well-being for their members than other financial institutions. View the poll

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