My Credit Union (MN)

Overview / Commentary
9550 Lyndale Ave S
Bloomington, MN 55420

My Credit Union (MN) is headquartered in Bloomington and is the 15th largest credit union in the state of Minnesota. It is also the 877th largest credit union in the nation. It was established in 1957 and as of March of 2024, it had grown to 76 employees and 23,861 members at 4 locations. My Credit Union (MN) has a B+ health rating.

Field of Membership Restrictions

My Credit Union is open to businesses and other legal entities, or anyone who lives, works, volunteers, or goes to school in the Minnesota counties of Dakota, Hennepin, or Scott. Employees or volunteers of any one of the credit union's Select Employee Group is also eligible for membership. (A list of SEGs is posted on the credit union's website)
See current membership details

Reviews (5)

XAP Credit Is The Best

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Very happy with our bank

I wanted a financial institution that would provide top notch web and customer service support without getting lost in a LARGE corporation such as Wells Fargo. We found it in RBCU. From the first day that we ordered products and services from this institution, we had people following up with us to make sure our needs were being met. We needed checking and savings accounts as well as a way to manage our investments, and finding the products and services we needed was very easy to do.

Having just gotten married, we were searching for common accounts that we could share without letting go of the old ones that we had. In addition, our daughter had just gotten a sizeable inheritance from a deceased relative, and we were looking at having to protect those assets for her as well. We have been very happy with RBCU's level of service and protection. Every time we call, we get a person, not a series of automated responses. If we've been in a position to have to dispute or ask questions about charges, they are very prompt in taking care of them. They provide a level of service that I have not seen previously.

Broken Website, Useless Customer Support

All I am trying to do is pay off my car loan. I have the money so it should be easy, right? WRONG!
In order to login to the website I need a 2-stage verification email but their email system has been broken for 2 days. I can only get logged in by doing a forgot password every single time I want to login because that is the only email that will send.
In order to pay off my remaining balance I need the 2-stage authentication email to send. In order to set 2-stage as a text I need the 2-stage email to send. In order to disable 2-stage authentication I need the 2-stage email to send.
You'd think they'd be aware of this and be able to turn off or change the 2-stage via phone call but they won't even admit the emails are broken. Their response was "The emails are delayed" and that all I had to do was wait for them to come through. Not a single one of the 20-50 2-stage emails that were sent have gone through in over 24 hours.
They won't even let me pay off the amount over the phone and they said I had to bring cash, in person, to pay it off. Who carries around 5,000$ in cash?

35-Year Member Abandoning A Sinking Ship

I've been a member of Richfield/Bloomington Credit Union for over 35 years and am shopping for a new credit union or bank. They used to be personable and professional, but now it seems like I can never talk to the same person twice, except the one man who sounds really young and is really very rude. The rest just sound pretty young and are condescending. There is one other exception: the one (and only one) person who handles IRA's, and only works part time. One would think that a financial institution with three branch locations would have more than one person who could assist with IRA transactions other than deposits, and that the person would be available more than about 12 to 18 hours a week. At least she seems to be very knowledgeable, and tries to be friendly while she is being helpful -- but she still defaults to paper copy of everything and either in-person or mailed through the unreliable postal service.

The last straw should have been a few years ago, when I cashed some US Savings Bonds, and someone made a clerical error processing one of them, so the Credit Union withdrew the entire amount of all the bonds from my account and froze all of my accounts, causing checks to bounce and automatic payments to be rejected, but they still accepted new deposits, which they also froze. For over two days, I couldn't even use my credit card to put gas in my car. After 10 days they figured it out and unfroze the rest of my accounts, but I had to fight with them to get refunded all the non-sufficient funds fees that they had charged me, and they refused to help me straighten things out with any of the creditors with which they caused me trouble. And every time I called about the situation, I had to explain everything all over again, and repeat over and over that it wasn't my fault that they couldn't process a savings bond, nor that they took back the proceeds for the entire batch of bonds, nor that they froze all of my accounts. Prior to this, I had not even used overdraft protection for over ten years. By the way, when they reversed the deposit and froze my accounts, they didn't even bother to send me any notifications, except through the website notifications, of which I was also locked out for at least two days, and when they resolved the problem, they didn't notify me at all -- I had to call back again to find out.

In spring of 2020, they switched to a new credit card processing company, and the new one is even worse than the one that they switched from. The on-line interface is even less user-friendly and more tedious to use. Preauthorizations stay on the pending transactions list up to two weeks after the final transaction is posted to the account.

But the final straw is that today, in this era of instant check processing electronically, I was informed that they are still putting a ten day hold on my paper payroll checks, because my employer has not started my direct deposit yet. And I must actually go to the credit union, or mail in the checks, because the mobile app will not process checks over $500!

This was after the young woman on the phone insulted my intelligence because I found over a dozen variations of name of the mobile app, but not the one for the credit union. After spending all that time to finally find, install, and activate the app, I realized that it was all a waste of time because it will not process checks over $500! Those must be brought or mailed to the credit union for processing.

And it was today I learned that they changed their name to "My Credit Union." What in the world were they thinking when they adopted that name???

If You Need To Raise Your Blood Pressure This Is The Bank For You

Posted by: |

Their online banking system is at ten years outdated, which ultimately will leave you in the situation I just found myself in:
After three log-in attempts you get locked out of your account. Unlike a modern bank where you can reset your password via an email from the bank, you can only reset it by calling the bank on the phone and speaking with a banker. To make the process of doing this even more inconvenient and infuriating, they are only open until 5pm on weekdays and noon on Saturdays. If you attempt to reach them during the 3 hours they are open on Saturday, their phone-line is busy from the moment they open until the moment they close. So you're sh*t out of luck until Monday – I had to wait 4 DAYS to regain access to my account over the Labor Day weekend.

On top of that you can't pay your RBCU credit card through their website, you have to set up an account with another company that has a website from the 1990's called EzCard. And forget about setting up automatic payments on your RBCU online banking interface, the process will make you pull your hair out. And I'm supposed to believe a system this antiquated is secure and my financial data is safe??? Do yourself a favor and bank with a real bank


Health Grade Components

NCUA #60125
Year Chartered1957
Primary Regulator
Profit Margin
Return on Assets - YTD0.33%
Return on Equity - YTD3.64%
Annual Interest Income$3.9MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$384MM$396.2MM
LoansQ1 2024vs Q1 2023$328.8MM$335.9MM
DepositsQ1 2024vs Q1 2023$331.8MM$352.6MM
Equity CapitalQ1 2024vs Q1 2023$34.6MM$34.1MM
Loan Loss AllowanceQ1 2024vs Q1 2023$1.4MM$1.4MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$617K$316K
Real Estate OwnedQ1 2024vs Q1 2023$0$0

Rates for My Credit Union (MN) are currently being reviewed.


My Credit Union (MN) Locations
Branch Office4025 W Old Shakopee RdBloomington, MN 55437
Branch Office345 E 77th StRichfield, MN 55423
Branch Office9550 Lyndale Ave SBloomington, MN 55420
Branch Office9050 Buchanan TrlInver Grove Heights, MN 55076

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