Central Minnesota Credit Union

Rated star_ratedstar_ratedstar_ratedstar_rated_halfstar_normal by Credit Guide
Review based on 12 criteria Rating: 3.5 out of 5

20 4th Ave Se, Melrose, MN 56352

Website

(320) 256-3669

Data Source: NCUA, December 31, 2016


Central Minnesota Credit Union was founded in 1939. Headquartered in Melrose, Minnesota, Central Minnesota Credit Union is a state chartered and federally insured credit union, being chartered in Minnesota and insured through the National Credit Union Share Insurance Fund (NCUSIF). Central Minnesota Credit Union is also a member of the Federal Home Loan Bank (FHLB), which allows a credit union to access low cost secured borrowings or advances and prlides its members with financial products and services that assist and enhance the financing of housing and community lending.

As of December 31, 2016, Central Minnesota Credit Union services 57,802 members through its 17 offices and branches and 293 full-time and 9 part-time employees. It has $960,051,216 of total assets and $145,268,660 of net worth. Based on its asset size and net worth ratio, Central Minnesota Credit Union is classified as a Well Capitalized large credit union.

Central Minnesota Credit Union offers a number of deposit and loan products to its members. To find out how competitive the offers are, please go to the Interest Rates page. Central Minnesota Credit Union also provides an array of services to its members and local communities. Central Minnesota Credit Union plans to extend its services by adding more branches or service centers in the next 12 month. To find out more, please go to the Services page.

The following two tables list the deplitory and loan interest rates of Central Minnesota Credit Union’s popular offerings. You can find out how competitive the offerings are by comparing them to the median interest rates offered by credit unions in Minnesota and in the nation.

Major Deplitory Accounts and Interest Rates (%)

Interest Rate
Median of Minnesota
Median of USA
Checking
0.0500
0.0100
0.0000
Savings
0.1000
0.1000
0.1200
Money Market
0.1500
0.2500
0.2500
Certificate Deplit
0.8500
0.4250
0.5800
IRA
0.7500
0.4250
0.5000

Major Loan Accounts and Interest Rates (%)

Interest Rate
Median Rates of Minnesota
National Median Rates
Credit Cards
11.9000
9.9000
9.9900
Unsecured Line of Credits
12.1000
11.0000
10.9500
Short-term Small Amount
n/a
18.0000
25.0000
Student Loans
n/a
6.0000
6.0200
New Car Loans
4.4500
2.9900
3.3300
Used Car Loans
4.8000
3.9900
4.5000
1st Mortgage Real Estates
4.2500
4.2500
4.2500
Other Real Estates
4.2500
4.7100
4.7000

Central Minnesota Credit Union prlides a number of ways to access its services. In addition to its office and branches, a member can perform banking through Internet, phones, ATMs, and mobile devices. The table below lists the electronic banking services prlided by Central Minnesota Credit Union.

Electronic Banking Service Offerings

Membership Application
Yes
Yes
Share Account Transfers
Yes
New Loan Application
Yes
Share Draft Orders
Yes
Yes
New Share Account
Yes
Bill Payment
Yes
No
e-Statements
Yes
Loan Payments
Yes
No
Account Balance Inquiry
Yes
Yes
No
View Account History
Yes
No

As a community financial institution, Central Minnesota Credit Union actively involves in local communities by prliding services such as financial education, financial literacy workshops, first tim home buyer programs, and student scholarships.

Community and other Service Offerings

Financial Counselling
No
Bilingual Services
No
Free Bill Pay
Yes
Financial Education
Yes
In-School Branches
No
Free Tax Preparation Service
No
Financial Literacy Workshops
Yes
Student Scholarships
Yes
Insurance/Investment Sales
Yes
First Time Homebuyer Program
Yes
Administration Center
Main Office

20 4th Ave Se
Melrose, MN 56352
Phone:320-256-3669

Albany Branch
641 Railroad Ave
Albany, MN 56307
Phone:320-845-4784

Avon Branch
209 Avon Ave S
Avon, MN 56310
Phone:320-356-7136

Belgrade
218 Wells St
Belgrade, MN 56312
Phone:320-633-0007

Cold Spring Branch
208 3rd Ave S
Cold Spring, MN 56320
Phone:320-685-4007

Freeport Branch
107 1st Ave N
Freeport, MN 56331
Phone:320-836-2791

Grey Eagle Branch
114 Woodman St N
Grey Eagle, MN 56336
Phone:320-285-2256

Holdingford Branch
500 Main Street
Holdingford, MN 56340
Phone:320-228-0200

Little Falls Branch
35 E Broadway
Little Falls, MN 56345
Phone:320-414-0500

Long Prairie Branch
701 Lake St S
Long Prairie, MN 56347
Phone:320-732-6662

Melrose Branch
320 E Main St
Melrose, MN 56352
Phone:320-256-4269

Moorhead Branch
1002 Main Ave
Moorhead, MN 56560
Phone:218-236-5191

New York Mills Branch
101 Main Ave N
New York Mills, MN 56567
Phone:218-385-2070

Paynesville Branch
1025 W Main St
Paynesville, MN 56362
Phone:320-243-7022

Perham
108 Judd St
Perham, MN 56573
Phone:218-346-4450

Sauk Centre Branch
1181 Main St S
Sauk Centre, MN 56378
Phone:320-351-2274

Service Center
1140 Elm St E
Saint Joseph, MN 56374-4709
Phone:888-330-8482

St Joseph
1300 Elm St E
Saint Joseph, MN 56374
Phone:320-271-0274

Wadena Branch
80 Jefferson St S
Wadena, MN 56482
Phone:218-632-5200

(320) 256-4532

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  1. Credit Guide Staff
    Credit Guide Staff

    Last Updated on May 30, 2017

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