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Ideal Credit Union


Overview / Commentary
www.idealcu.com
651-770-7000
8499 Tamarack Rd
Woodbury, MN 55125

Ideal Credit Union is headquartered in Woodbury and is the 10th largest credit union in the state of Minnesota. It is also the 429th largest credit union in the nation. It was established in 1926 and as of December of 2022, it had grown to 164 employees and 52,151 members at 6 locations. Ideal Credit Union's money market rates are 6X the national average, and it has an A health rating.

Field of Membership Restrictions

Ideal Credit Union is open to anyone who lives, works, worships, attends school, or volunteers in the Minnesota counties of Anoka, Carver, Chisago, Dakota, Hennepin, Isanti, Pierce, Ramsey, Saint Croix, Scott, Sherburne, Washington or Wright. Membership is also available to out-of-area individuals by making a one-time $5 donation to the John D. Miller Foundation.
See current membership details

Related Posts

Ideal Credit Union Has Limited-Time High Yield Checking Promo Rate - 7/14/2022

Ideal Credit Union (easy membership requirement) is offering 4.00% APY on its High Yield Checking now through 9/30/2022. Rate will revert to 2.00% APY on 10/1/2022.

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Reviews (5)

Great Place

Posted by: |

Great place. Rates are pretty low on all accounts, but no fees accounts, great local employees. Can't go wrong versus your large banks.

Unfortunately for PCU, I keep my savings at Alliant, but I have my checking and car loan through them. I live close to a branch. I would recommend them to anyone (locally for sure). They are part of the shared branch system too.

4

Use To Be Good

Posted by: |

Back in the days of PCU they were good and actually cared about their customers. Now they have gotten too business orientated and do not care about the people. They went from providing great service to charging for CRAPPY service.

6

Horrible Customer Service

Posted by: |

I can’t believe how awful this credit union is. I am a brand new customer and when I deposited my paycheck, they put a 10 day hold on it. They told me they couldn’t verify my SCHOOL DISTRICT. When I said I need those funds, a manager asked why. Why did I need MY funds?!? I said to pay bills and she told me that “wasn’t good enough!” So now I am waiting 10 days so I can close my account. In the mean time, you know they have my money! And I will be charged late fees if I don’t pay my bills on time. Such horrible customer service.

8

Horrible Service

Posted by: |

I was a long standing member since 2000 left money in my account $3.09 and opened an account for my baby. I called and was told my account closed for inactivity. That was ok since i wanted to start depositing my paychecks. I went in and the bank rep says you owe $151. I asked how if my account closed with a positive Balance. She prints and old statement of 1 Page with only one item showing my account was delinquent but couldn't explain the closure with a positive Balance and didn't care to explain so i called and made a complaint. Days later i called to check in my pending account to be opened and the nicest customer service agent says your account is approved you just need to deposite funds. The next day i get a voicemail from the agent i complained about saying call her. I go online my application is missing and i have no idea what they are doing. I want to file a complaint and have someone investigate and reprimand this Woman

3

Unfair Bank Practices

Posted by: |

Bad place to bank: Bank will roll back posted dates on transactions, to obtain overdraft fees. Ideal credit union still owes me $105 for fees that were charged. in error. They, make bank practices after the fact. Each bank employee I dealt with has a different answer to what their policies are. Twice privacy, issues were not followed in regards to my account. Note the Ideal credit union president will not talk to a customer, he refers all complaints to vice president. They have no clear policy, towards overdraft protection plan. If you enjoy paying unfair fees this is the bank for you. Note if you travel more then 50 miles from home, and use your debit card your account will be frozen. If you use your debit card at a casino your account will be frozen. Good luck getting home, I had $5000 in bank and could not buy gas to get home I was stranded 90 miles from home.

9


Health
A

Data as of Q4 2022

Learn why bank health matters

Health Grade Components

Overall
NCUA #62978
Year Chartered1926
Employees164
Primary Regulator
Profit Margin
Return on Assets - YTD0.71%
Return on Equity - YTD7.04%
Annual Interest Income$36.7MM
Assets and Liabilities
AssetsQ4 2022vs Q4 2021$988.5MM$932.2MM
LoansQ4 2022vs Q4 2021$810.0MM$743.1MM
DepositsQ4 2022vs Q4 2021$829.0MM$780.0MM
Equity CapitalQ4 2022vs Q4 2021$99.9MM$91.8MM
Loan Loss AllowanceQ4 2022vs Q4 2021$4.9MM$5.1MM
Unbacked Noncurrent LoansQ4 2022vs Q4 2021$6.1MM$4.8MM
Real Estate OwnedQ4 2022vs Q4 2021$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Ideal 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.

Ideal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%*-$2.5kRoundUp Savings
OTHER TIERS: 0.05% → $10k+ | 0.50% → $5k - $10k | 1.00% → $2.5k - $5k
0.05%--Share Savings

Ideal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.78%$25k-Money Market Special Rates - New Money
2.02%--Business High Yield Money Market Special ($10k New Money)
1.31%*$250k*-High Yield Money Market
OTHER TIERS: 1.00% → Up to $25k | 1.06% → $25k - $100k | 1.11% → $100k - $250k
1.31%*$250k*-Business High Yield Money Market
OTHER TIERS: 1.00% → Up to $25k | 1.06% → $25k - $100k | 1.11% → $100k - $250k
1.31%*$200k*-IRA High Yield Money Market
OTHER TIERS: 1.00% → Up to $25k | 1.06% → $25k - $100k | 1.11% → $100k - $200k
0.30%*$2.5k*-Premium IRA Money Market
OTHER TIERS: 0.05% → Up to $2.5k
0.30%*$2.5k*-Premium Money Market
OTHER TIERS: 0.05% → Up to $2.5k

Ideal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.00%*-$20kHigh Yield Checking
OTHER TIERS: 0.05% → $20k+
0.05%--Optimum Business Checking
0.05%--Simply Business Checking
0.05%$2k-Relationship Checking

Ideal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.50%*$70k*-11 Month CD Special
OTHER TIERS: 3.30% → $500 - $25k | 4.30% → $25k - $70k
4.00%$10k-26 Month CD Special - New Money
3.56%*$70k*-30 Month CD
OTHER TIERS: 3.45% → $500 - $25k | 3.51% → $25k - $70k
3.35%$100-30 Month Savers CD
3.04%*$70k*-36 Month CD
OTHER TIERS: 2.94% → $500 - $25k | 2.99% → $25k - $70k
3.04%*$70k*-48 Month CD
OTHER TIERS: 2.94% → $500 - $25k | 2.99% → $25k - $70k
3.04%*$70k*-60 Month CD
OTHER TIERS: 2.94% → $500 - $25k | 2.99% → $25k - $70k
2.84%$100-36 Month Savers CD
2.84%$100-48 Month Savers CD
2.84%$100-60 Month Savers CD
2.22%*$70k*-24 Month CD
OTHER TIERS: 2.12% → $500 - $25k | 2.17% → $25k - $70k
2.12%*$70k*-18 Month CD
OTHER TIERS: 2.02% → $500 - $25k | 2.07% → $25k - $70k
2.02%$100-24 Month Savers CD
1.92%$100-18 Month Savers CD
1.87%*$70k*-12 Month CD
OTHER TIERS: 1.76% → $500 - $25k | 1.81% → $25k - $70k
1.66%$100-12 Month Savers CD
1.46%*$70k*-6 Month CD
OTHER TIERS: 1.36% → $500 - $25k | 1.41% → $25k - $70k
1.36%*$70k*-91 Day CD
OTHER TIERS: 1.26% → $500 - $25k | 1.31% → $25k - $70k
1.26%$100-6 Month Savers CD

Ideal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.50%*$70k*-11 Month IRA Special
OTHER TIERS: 3.30% → $500 - $25k | 4.30% → $25k - $70k
4.00%$10k-26 Month IRA Special - New Money
3.56%*$70k*-30 Month IRA
OTHER TIERS: 3.45% → $500 - $25k | 3.51% → $25k - $70k
3.04%*$70k*-36 Month IRA
OTHER TIERS: 2.94% → $500 - $25k | 2.99% → $25k - $70k
3.04%*$70k*-48 Month IRA
OTHER TIERS: 2.94% → $500 - $25k | 2.99% → $25k - $70k
3.04%*$70k*-60 Month IRA
OTHER TIERS: 2.94% → $500 - $25k | 2.99% → $25k - $70k
2.22%*$70k*-24 Month IRA
OTHER TIERS: 2.12% → $500 - $25k | 2.17% → $25k - $70k
2.12%*$70k*-18 Month IRA
OTHER TIERS: 2.02% → $500 - $25k | 2.07% → $25k - $70k
1.87%*$70k*-12 Month IRA
OTHER TIERS: 1.76% → $500 - $25k | 1.81% → $25k - $70k
1.46%*$70k*-6 Month IRA
OTHER TIERS: 1.36% → $500 - $25k | 1.41% → $25k - $70k
1.36%*$70k*-91 Day IRA
OTHER TIERS: 1.26% → $500 - $25k | 1.31% → $25k - $70k
Locations


Ideal Credit Union Locations
Branch Office2401 McKnight Rd NNorth Saint Paul, MN 55109-2211
Branch Office3225 Denmark AveEagan, MN 55121-1382
Branch Office8499 Tamarack RdWoodbury, MN 55125-9201
Branch Office14750 Victor Hugo Blvd NHugo, MN 55038-4561
Branch Office2020 Washington Ave SStillwater, MN 55082
Branch Office7791 Amana TrlInver Grove Heights, MN 55077-2610

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