Magnifi Financial Three "Pick Your Term" CDs Offer 5.15% APY


Deal Summary: “Pick Your Term” CDs – 9-month, 14-month, and 21-month, 5.15% APY $2.5k minimum deposit, $250k maximum deposit per member, one-time penalty-free withdrawal of up to 10% of opening deposit.

Availability: Easy membership requirement, but promotion limited to existing members and new members from MN, ND or WI.

For a limited time, Minnesota-based Magnifi Financial is offering 5.15% APY on a trio of CD Specials – 9-month, 14-month, and 21-month. While Magnifi Financial offers membership on a nationwide basis, the CD Specials are available only to “US residents of Minnesota, North Dakota, Wisconsin, or existing members as of April 15, 2023.” The minimum opening deposit is $2.5k and as stated on the landing page, there is a “$250,000 limit per member.”

As stated in the fine print of the Certificates page, the Early Withdrawal Penalty reads as follows:

Terms of 9 months but less than 24 months = 180 Days' Dividends.

In addition,

Magnifi Financial will waive the penalty for withdrawals of up to 10% of the opening balance one time during the term of a certificate.


Headquartered in Melrose, Minnesota, Magnifi Financial recently expanded its field of membership (FOM) to include virtually all U.S. citizens and residents aliens, but as mentioned above, the 9-month, 14-month and 21-month CD Specials are only available to new and existing members from Minnesota, North Dakota, Wisconsin, or existing members as of April 15, 2023.

Easy Membership Requirement: Individuals who make a $10 donation to the Magnifi Foundation qualify for Magnifi Financial membership. Businesses can also join by making a $50 donation.

Residency: Those who live, work, worship, volunteer, attend school, or do business in 28 Minnesota counties, two North Dakota counties, and two Wisconsin counties also qualify for membership.

  • Minnesota counties – Anoka, Benton, Becker, Carver, Clay, Chisago, Crow Wing, Douglas, Dakota, Grant, Hennepin, Isanti, Kandiyohi, McLeod, Meeker, Mille Lacs, Morrison, Otter Tail, Pope, Ramsey, Scott, Sherburne, Stearns, Todd, Wadena, Washington, Wilkin, or Wright.
  • North Dakota counties – Cass or Richland.
  • Wisconsin counties – Pierce or St. Croix.

Family Relationship: - Family members of a current Magnifi Financial member are also welcome to apply.

Account Opening

Joining Magnifi Financial and/or opening a CD Special can be done online or at any of 25 Minnesota branches located in Albany, Avon, Belgrade, Blaine, Cold Spring, Columbia Heights, Coon Rapids, Freeport, Glenwood, Grey Eagle, Holdingford, Little Falls, Long Prairie, Melrose (2), Moorhead, New York Mills, Paynesville, Perham, Saint Joseph, Sartell, Sauk Centre, Spicer, Wadena, and Waite Park. Appointments (phone call, video call, or inperson meeting) are available and can be scheduled online.

A $5 minimum deposit in a Membership Share account establishes a Magnifi Financial membership.

Funding and Other Details

The following information is from a LiveChat with CSR.

  • Funding – ACH, wire ($10 fee), or check (if opening in-branch).
  • CO-OP Shared Branch Participant – No.
  • Dividends – Compounded/credited monthly and can be withdrawn penalty free.
  • Maturing Funds – Cashier’s check, wire ($25 fee), or internal transfer to savings/checking account.
  • Beneficiaries – Unlimited, equal shares, Social Security numbers are required.
  • Grace Period – 10 calendar days before automatic renewal as a regular 12-month CD (applies to all three CD Specials).
  • Credit Check – Soft pull.

Credit Union Overview

Magnifi Financial has an overall health grade of "A+" at, with a Texas Ratio of 0.75% (excellent) based on December 31, 2022 data. In the past year, Magnifi has increased its total non-brokered deposits by $215.92 million, an excellent annual growth rate of 15.61%. Please refer to our financial overview of Magnifi Financial (NCUA Charter # 68604) for more details.

Founded in 1939 as Central Minnesota Credit Union, Magnifi Financial is currently the fourth largest credit union headquartered in Minnesota, with nearly 84,000 members and assets in excess of $2.1 billion. The Magnifi Financial rebrand is recent, with the name change finalized on March 1, 2022. According to a February 2022 BUSINESS WIRE article,

Central Minnesota Credit Union (CMCU), a member-owned financial services cooperative, announced that it is changing its name to Magnifi Financial, effective March 1. As part of the transition, CMCU will unveil a new visual identity, including logo, signage, website and advertising. Magnifi Financial will remain a credit union, with the same credit union charter, business model and community-centered philosophy.

“Magnifi Financial is an acknowledgement of how much we’ve grown as an organization,” said Charles Friederichs, CMCU Chief Executive Officer. “We are changing our name to better reflect our growing membership, which has grown beyond central Minnesota and extends from western North Dakota through the Twin Cities metro into Wisconsin.”

How the 9-Month CD Special Compares

When compared to similar length-of-term CDs tracked by that are nationally available and have minimum deposit requirements of $10k or less, no banks or credit unions have higher rates than currently offered on the Magnifi Financial 9-Month CD Special. The following table compares the 9-Month Certificate Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

How the 14-month CD Compares

When compared to similar length-of-term CDs tracked by which are available nationally and have minimum deposit requirements of $10k or less, two banks have higher rates than currently offered on the Magnifi Financial 14-Month CD Special. The following table compares the 14-Month Certificate Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks

The above information and rates are accurate as of 4/20/2023.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: Minneapolis CD rates, Fargo CD rates, 1-year CD rates, 5-year CD rates, nationwide deals

Magnifi Financial Adds Nationally Available Rate-Leading 7-Month CD
Update 1/18/23: The 7-month CD Special has expired.

Deal Summary: 7-month Certificate Special, 5.00% APY, $25k min/$250k max deposit, at least 50% of deposit must be new money.

Availability: Easy membership requirement.

For a limited time, Minnesota-based Magnifi Financial is offering a 7-month Certificate Special earning 5.00% APY. The minimum opening deposit is $25k; the maximum deposit is $250k. There is no specified end-date mentioned on the Magnifi Financial website and CSR stated she had no information as to how long the 7-month Certificate Special would be...

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