Affinity Plus Federal Credit Union is headquartered in Saint Paul and is the 3rd largest credit union in the state of Minnesota. It is also the 104th largest credit union in the nation. It was established in 1934 and as of June of 2023, it had grown to 588 employees and 255,808 members at 28 locations. Affinity Plus Federal Credit Union's money market rates are 8X the national average, and it has a B health rating.
Field of Membership Restrictions
Membership in Affinity Plus Federal Credit Union is open to anyone through making a one-time $25 lifetime dues payment to the Affinity Plus Foundation. Membership is also open to the following: (1) those who live, work or worship in Roseville, Arden Hills, Mounds View, Shoreview, St. Anthony, New Brighton, or downtown Minneapolis/St Paul; (2) employees of the State of Minnesota, the University of Minnesota, any organization that receives funding from the State of Minnesota or students and alumni of the University of Minnesota.
See current membership details
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Affinity Plus gets an A+ from me!
I have been a member of Affinity Plus Federal Credit Union for 7 years. During that time, I've lived in 3 different states, and have never needed to change my primary account to another institution, because they make it SO EASY to stay connected! I can obviously use direct deposit for my paychecks, but the mobile app has really simplified my life. With it, I can deposit checks into my account, check my balance, find a no-fee ATM, and more. Speaking of fees... there virtually are NONE at Affinity Plus! I found an ATM at another credit union in my neighborhood, so I don't ever have to pay to get my own cash. If I can't find an ATM, there's always the cash-back option at a store using my chip-debit card. I LOVE my credit union, and will more than likely always be a member - no matter what state I live in!
Can Only Fund With Credit Card Or "Plaid"
The website is nice and live chat is excellent. Tried to sign up for Superior Money Market paying 2%. Unfortunately I can only fund with credit card (via cash advance) or with an app called Plaid. Plaid wants the username and password of your bank. So they don't perform bank transfers in the normal way with only the account number and routing number.
Account Opening Denied
I saw Affinity Plus listed as offering a 1% APY for a money market account, double what everyone is offering for high yield savings. I don't live in the area so I was going to join by donating to their foundation. When I applied online and submitted a driver's license and Social Security card, I received a notice a few hours later they could not approve me. I then went on video chat and the nice rep said the system just couldn't process my fraud alert but I could apply by paper form with a manual review. I did that but didn't hear back for five days. When I went back on chat I was told they could not approve me again and that they couldn't tell me more except with the letter that is coming in the mail. I've never been denied any bank account or credit card and have no black marks. It's a shame because their denial is keeping me from trying to keep up better with inflation. I'm sure they will ask me to come in person, which I might be able to do in about four months. I'm just going with someone else instead.
Ruined My Credit!
I've had an open personal loan for almost two years with no issues, in fact I've always paid more than the minimum payment every month. Not realizing my automatic payments weren't set up, I missed a payment and it went over 30 days past due. I was not notified until my payment was 35 days late and a missed payment was reported to my credit reports. My score dropped 80+ points! I reached out to Affinity Plus management only to find out they're absolutely unwilling to help. I would recommend finding a credit union who actually value real people instead of the image they portray.
Data as of Q2 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 24362 |
| Year Chartered | 1934 |
| Employees | 588 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.72% |
| Return on Equity - YTD | 8.92% |
| Annual Interest Income | $91.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $4.15B$3.91B |
| Loans | Q2 2023vs Q2 2022 | $3.51B$3.34B |
| Deposits | Q2 2023vs Q2 2022 | $3.54B$3.56B |
| Equity Capital | Q2 2023vs Q2 2022 | $331.7MM$320.3MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$16.1MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $16.2MM$14.7MM |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |
