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Central Minnesota Credit Union


Overview / Commentary
www.mycmcu.org
320-256-3669
20 4th Ave SE
Melrose, MN 56352

Central Minnesota Credit Union is headquartered in Melrose and is the 7th largest credit union in the state of Minnesota. It is also the 272nd largest credit union in the nation. It was established in 1939 and as of December of 2019, it had grown to 336 employees and 69,656 members at 25 locations. Central Minnesota Credit Union's CD rates are 28% higher than the national average, and it boasts an A+ health rating.

Field of Membership Restrictions

Membership in Central Minnesota Credit Union is open to those who live, work, attend school or worship in Becker, Benton, Clay, Douglas, Grant, Kandiyohi, Meeker, Morrison, Otter Tail, Pope, Sherburne, Stearns, Todd, Wadena, Wilkin, and Wright Counties in Minnesota or in Cass and Richland Counties in North Dakota.
See current membership details

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Reviews (2)

Online Banking

Posted by: |

When I recently went in to look into getting a new checking account at a different bank I was surprised by the amount of options they had. One of the choices was an E-Checking account. I do most of my banking online and prefer it that way. This seemed like the best option for me. The guy who helped me set it up was very friendly and made sure I had everything working before I left the building. He helped me create a user name and password for the website as well as helped me find and download their mobile app. I found the benefits on their E-Checking account to make it more than worth it to sign up for this particular account. The part I liked the best is I will now earn interest on money I have in my checking account.

1

Central MN Credit Union

Posted by: |

I recently was unhappy with my current bank and found myself at our local credit union. When I walked in I was greeted and it was a pleasant atmosphere. I did not have to wait long for someone to come help me open a new checking and savings account. Everything was explained to me in detail, and I was given choices of what kinds of accounts I wanted to open. The guy was knowledgeable in their accounts and did his best to make sure the accounts I was opening were the best for me and my situation. I have been back a few times now as I am working on switching everything to this credit union. I would highly recommend this credit union to other people. It is fast, convenient, and they offer good deals on the types of accounts they have.

1


Health
A+

Data as of Q4 2019

Learn why bank health matters

Health Grade Components

Overall
NCUA #68604
Year Chartered1939
Employees336
Primary Regulator
Profit Margin
Return on Assets - YTD1.17%
Return on Equity - YTD7.58%
Annual Interest Income$51.6MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$1.20B$1.10B
LoansQ4 2019vs Q4 2018$952.0MM$897.6MM
DepositsQ4 2019vs Q4 2018$977.9MM$874.4MM
Equity CapitalQ4 2019vs Q4 2018$186.6MM$169.5MM
Loan Loss AllowanceQ4 2019vs Q4 2018$7.7MM$6.7MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$2.9MM$3.7MM
Real Estate OwnedQ4 2019vs Q4 2018$1.1MM$1.2MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not Central Minnesota Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Central Minnesota Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%$5-My Goal Savings
1.70%--Little Scholars
1.70%--Boom! Savings
0.60%*$25k*-H.S.A. Checking
OTHER TIERS: 0.30% → Up to $10k | 0.50% → $10k - $25k
0.60%--Save the Change Account
0.55%*$150k*-IRA Savings
OTHER TIERS: 0.10% → Up to $2.5k | 0.20% → $2.5k - $10k | 0.25% → $10k - $25k | 0.30% → $25k - $50k | 0.40% → $50k - $100k | 0.45% → $100k - $150k
0.55%*$150k*-Business IRA Savings
OTHER TIERS: 0.10% → Up to $2.5k | 0.20% → $2.5k - $10k | 0.25% → $10k - $25k | 0.30% → $25k - $50k | 0.40% → $50k - $100k | 0.45% → $100k - $150k
0.15%--Savings Accounts
0.15%--Business Savings Accounts
0.05%$5-Share Account

Central Minnesota Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.10%*$1m*-Business Platinum Money Market Account
OTHER TIERS: 0.10% → Up to $2.5k | 0.20% → $2.5k - $10k | 0.25% → $10k - $25k | 0.30% → $25k - $50k | 0.40% → $50k - $100k | 0.50% → $100k - $150k | 0.60% → $150k - $250k | 0.70% → $250k - $500k | 0.90% → $500k - $1m
0.55%*$150k*-Money Market Account
OTHER TIERS: 0.10% → Up to $2.5k | 0.20% → $2.5k - $10k | 0.25% → $10k - $25k | 0.30% → $25k - $50k | 0.40% → $50k - $100k | 0.45% → $100k - $150k

Central Minnesota Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.35%*$150k*-Business Advantage Checking
OTHER TIERS: 0.15% → Up to $50k | 0.20% → $50k - $100k | 0.25% → $100k - $150k
0.35%*$150k*-Business Platinum Checking
OTHER TIERS: 0.15% → Up to $50k | 0.20% → $50k - $100k | 0.25% → $100k - $150k
0.25%--eChecking
0.15%*$5k*-Relationship Checking
OTHER TIERS: 0.10% → $1k - $5k

Central Minnesota Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%$250$7.5k24 Month Boom! CD
1.55%*$150k*-60 Month CD
OTHER TIERS: 1.25% → $500 - $25k | 1.30% → $25k - $50k | 1.35% → $50k - $100k | 1.45% → $100k - $150k
1.55%*$150k*-Business 60 Month CD
OTHER TIERS: 1.25% → $500 - $25k | 1.30% → $25k - $50k | 1.35% → $50k - $100k | 1.45% → $100k - $150k
1.50%*$150k*-48 Month CD
OTHER TIERS: 1.15% → $500 - $25k | 1.20% → $25k - $50k | 1.30% → $50k - $100k | 1.40% → $100k - $150k
1.50%*$150k*-Business 48 Month CD
OTHER TIERS: 1.15% → $500 - $25k | 1.20% → $25k - $50k | 1.30% → $50k - $100k | 1.40% → $100k - $150k
1.45%*$150k*-36 Month CD
OTHER TIERS: 1.05% → $500 - $25k | 1.10% → $25k - $50k | 1.25% → $50k - $100k | 1.35% → $100k - $150k
1.45%*$150k*-Business 36 Month CD
OTHER TIERS: 1.05% → $500 - $25k | 1.10% → $25k - $50k | 1.25% → $50k - $100k | 1.35% → $100k - $150k
1.40%*$150k*-24 Month CD
OTHER TIERS: 1.00% → $500 - $25k | 1.05% → $25k - $50k | 1.20% → $50k - $100k | 1.30% → $100k - $150k
1.40%*$150k*-Business 24 Month CD
OTHER TIERS: 1.00% → $500 - $25k | 1.05% → $25k - $50k | 1.20% → $50k - $100k | 1.30% → $100k - $150k
1.20%*$150k*-18 Month CD
OTHER TIERS: 0.85% → $500 - $25k | 0.90% → $25k - $50k | 1.00% → $50k - $100k | 1.10% → $100k - $150k
1.20%*$150k*-Business 18 Month CD
OTHER TIERS: 0.85% → $500 - $25k | 0.90% → $25k - $50k | 1.00% → $50k - $100k | 1.10% → $100k - $150k
1.15%*$150k*-12 Month CD
OTHER TIERS: 0.85% → $500 - $25k | 0.90% → $25k - $50k | 0.95% → $50k - $100k | 1.05% → $100k - $150k
1.15%*$150k*-Business 12 Month CD
OTHER TIERS: 0.85% → $500 - $25k | 0.90% → $25k - $50k | 0.95% → $50k - $100k | 1.05% → $100k - $150k
0.95%*$150k*-9 Month CD
OTHER TIERS: 0.60% → $500 - $25k | 0.65% → $25k - $50k | 0.75% → $50k - $100k | 0.85% → $100k - $150k
0.95%*$150k*-Business 9 Month CD
OTHER TIERS: 0.60% → $500 - $25k | 0.65% → $25k - $50k | 0.75% → $50k - $100k | 0.85% → $100k - $150k
0.85%*$150k*-6 Month CD
OTHER TIERS: 0.50% → $500 - $25k | 0.55% → $25k - $50k | 0.65% → $50k - $100k | 0.75% → $100k - $150k
0.85%*$150k*-Business 6 Month CD
OTHER TIERS: 0.50% → $500 - $25k | 0.55% → $25k - $50k | 0.65% → $50k - $100k | 0.75% → $100k - $150k
0.60%*$150k*-3 Month CD
OTHER TIERS: 0.30% → $500 - $25k | 0.35% → $25k - $50k | 0.40% → $50k - $100k | 0.50% → $100k - $150k
0.60%*$150k*-Business 3 Month CD
OTHER TIERS: 0.30% → $500 - $25k | 0.35% → $25k - $50k | 0.40% → $50k - $100k | 0.50% → $100k - $150k

Central Minnesota Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.55%*$150k*-60 Month IRA
OTHER TIERS: 1.25% → $500 - $25k | 1.30% → $25k - $50k | 1.35% → $50k - $100k | 1.45% → $100k - $150k
1.50%*$150k*-48 Month IRA
OTHER TIERS: 1.15% → $500 - $25k | 1.20% → $25k - $50k | 1.30% → $50k - $100k | 1.40% → $100k - $150k
1.45%*$150k*-36 Month IRA
OTHER TIERS: 1.05% → $500 - $25k | 1.10% → $25k - $50k | 1.25% → $50k - $100k | 1.35% → $100k - $150k
1.40%*$150k*-24 Month IRA
OTHER TIERS: 1.00% → $500 - $25k | 1.05% → $25k - $50k | 1.20% → $50k - $100k | 1.30% → $100k - $150k
1.15%*$150k*-12 Month IRA
OTHER TIERS: 0.85% → $500 - $25k | 0.90% → $25k - $50k | 0.95% → $50k - $100k | 1.05% → $100k - $150k
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