Mid-Minnesota Federal Credit Union is headquartered in Baxter and is the 17st largest credit union in the state of Minnesota. It is also the 783rd largest credit union in the nation. It was established in 1970 and as of December of 2013, it had grown to 103 employees and 37,481 members. Mid-Minnesota Federal Credit Union's savings rates are 71% higher than the national average, and it has a A health rating.
Membership is open to anyone who lives, works, worships, or attends school in any of the following counties of Minnesota: Cass, Crow Wing, Douglas, Morrison, Todd, Wadena, as well as the townships of Blowers and Paddock in Otter Tail County. You are also eligible for membership if you are a blood relative of someone who lives, works, worships, or attends school in any of the above geographic regions (even if the individual is not a member of the credit union). - See Details
No reviews have been left for this bank yet. Be the first to review.
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Mid-Minnesota Federal Credit Union had $3.13 million in non-current loans and owned real-estate with $29.33 million in equity and loan loss allowances on hand to cover it. This gives Mid-Minnesota Federal Credit Union a Texas Ratio of 10.68% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Mid-Minnesota Federal Credit Union decreased slightly from 13.89% as of December 31, 2012 to 10.68% as of December 31, 2013, resulting in a positive change of 23.07%.This indicates that the balance sheet and financial strength for Mid-Minnesota Federal Credit Union has improved slightly in recent periods.
In the past year, Mid-Minnesota Federal Credit Union has increased its total deposits by $4.19 million, resulting in 1.96% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Mid-Minnesota Federal Credit Union has shown is above average.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Mid-Minnesota Federal Credit Union has $250.48 million in assets with $29.33 million in equity, resulting in a capitalization level of 11.71%, which is excellent.
|Assets and Liabilities|
|Equity Capital||$28.11 million|
|Loan Loss Allowance||$1.22 million|
|Unbacked Noncurrent Loans||$1.80 million|
|Real Estate Owned||$1.33 million|
|Historic Data - December 2012|
|Equity Capital||$25.51 million|
|Loan Loss Allowance||$1.80 million|
|Unbacked Noncurrent Loans||$1.80 million|
|Real Estate Owned||$1.07 million|
|Profit Margin - Quarterly|
|Net Interest Margin||5%|
|Return on Assets||1.04%|
|Return on Equity||9.23%|
|Interest Income||$9.93 million|
Always verify rates and promotions with the bank or credit union. We are not Mid-Minnesota Federal Credit Union, we are a rate comparison website and can not provide official rates or promotions.
|0.20%||$50k||-||Floating Roth IRA Savings|
|0.20%||$50k||-||Floating Education IRA Savings|
|0.20%||$50k||-||Floating Tradition IRA Savings|
|0.15%||$5k||-||Health Savings Accounts|
|0.05%||-||-||Floating Employee Distribution IRA Savings|
|0.20%||$50k||-||Money Market Savings|
|0.15%||$50k||-||Money Market Checking|
|0.20%||$10k||-||Business Dividend Checking|
|1.50%||-||-||36 Month Fast Forward CD Special|
|0.95%||$500||-||48 Month CD|
|0.75%||$500||-||36 Month CD|
|0.60%||$500||-||24 Month CD|
|0.60%||$5k||-||36 Month Bump CD Special|
|0.45%||$500||-||18 Month CD|
|0.45%||$2,500||-||36 Month Add-On CD Special|
|0.45%||$5k||-||24 Month Bump CD Special|
|0.40%||$500||-||12 Month CD|
|0.25%||$500||-||6 Month CD|
|0.20%||$500||-||3 Month CD|
|0.95%||$500||-||48 Month IRA (Traditional,Roth,CESA)|
|0.75%||$500||-||36 Month IRA (Traditional,Roth,CESA)|
|0.60%||$500||-||24 Month IRA (Traditional,Roth,CESA)|
|0.45%||$500||-||18 Month IRA (Traditional,Roth,CESA)|
|0.40%||$500||-||12 Month IRA (Traditional,Roth,CESA)|
|0.25%||$500||-||6 Month IRA (Traditional,Roth,CESA)|
|0.20%||$500||-||3 Month IRA (Traditional,Roth,CESA)|
|Mid-Minnesota Federal Credit Union Locations|
|Branch Office||1220 4th St NE||Staples, MN 56479|
|Branch Office||13283 Isle Dr||Baxter, MN 564258554|
|Branch Office||200 S 6th St||Brainerd, MN 564013536|
|Branch Office||30483 STATE HWY 371||Pequot Lakes, MN 56472|
|Branch Office||117 W Main St||Crosby, MN 564411423|
|Branch Office||307 1st St SE||Little Falls, MN 563453005|
|Branch Office||405 50th Ave W||Alexandria, MN 56308|