Novation Credit Union

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LOCATIONS

TODAY'S FEATURED RATES

Member FDIC

4.00%

Our Rating

4.2 / 5

CIT Bank

Platinum Savings

See Offer

Sponsored Note: Earn more with a min. balance of $5K. Savings starts at $100. FDIC Insured.

Member FDIC

3.80%

Our Rating

4.2 / 5

SoFi® Bank, N.A.

SoFi Checking and Savings

See Offer

Sponsored Note: +0.20% boost to 4.00% for up to 6 months on new accounts with eligible direct deposit. Terms apply.

Member FDIC

3.60%

Our Rating

4.3 / 5

American Express

American Express® High Yield Savings Account

See Offer

Sponsored Note: Interest compounds daily, deposited monthly

Member FDIC

3.50%

Our Rating

4.4 / 5

Capital One

360 Performance Savings

See Offer

Sponsored Note: It only takes about 5 minutes to open a fee-free account. Member FDIC.

Member FDIC

4.44%

Our Rating

4.3 / 5

Peak Bank

Envision High Yield Savings

See Offer

Sponsored Note: Member FDIC: Insured up to $250,000. $100 Deposit Earns Interest Immediately.

Member FDIC

up to $300

Our Rating

4.2 / 5

SoFi® Bank, N.A.

SoFi Checking and Savings

See Offer

Sponsored Note: Earn up to $300 with direct deposit, plus 2-day-early-pay. FDIC insured!

Overview / Commentary

novation.org

651-739-8080

500 Imperial Ave N
Oakdale, MN 55128

Novation Credit Union is headquartered in Oakdale and is the 27^th largest credit union in the state of Minnesota. It is also the 1,150^th largest credit union in the nation. It was established in 1954 and as of March of 2025, it had grown to 31 employees and 15,343 members at 2 locations. Novation Credit Union has an A health rating.

Field of Membership Restrictions

Novation Credit Union is open to employees and retirees of 3M, and to the community of McLeod County in Minnesota.
See current membership details

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Health

Data as of Q1 2025

Learn why bank health matters

Health Grade Components

Overall
NCUA #	65063
Year Chartered	1954
Employees	31
Primary Regulator

Profit Margin
Return on Assets - YTD	1.07%
Return on Equity - YTD	11.07%
Annual Interest Income	$2.8MM

Assets and Liabilities
Assets	Q1 2025vs Q1 2024	$244.8MM$237.7MM
Loans	Q1 2025vs Q1 2024	$167.4MM$159.8MM
Deposits	Q1 2025vs Q1 2024	$220.5MM$216.5MM
Equity Capital	Q1 2025vs Q1 2024	$23.1MM$20.2MM
Loan Loss Allowance	Q1 2025vs Q1 2024	$940K$773K
Unbacked Noncurrent Loans	Q1 2025vs Q1 2024	$677K$753K
Real Estate Owned	Q1 2025vs Q1 2024	$0$0

TODAY'S FEATURED RATES

Member FDIC

4.00%

Our Rating

4.2 / 5

CIT Bank

Platinum Savings

See Offer

Sponsored Note: Earn more with a min. balance of $5K. Savings starts at $100. FDIC Insured.

Member FDIC

3.80%

Our Rating

4.2 / 5

SoFi® Bank, N.A.

SoFi Checking and Savings

See Offer

Sponsored Note: +0.20% boost to 4.00% for up to 6 months on new accounts with eligible direct deposit. Terms apply.

Member FDIC

3.60%

Our Rating

4.3 / 5

American Express

American Express® High Yield Savings Account

See Offer

Sponsored Note: Interest compounds daily, deposited monthly

Member FDIC

3.50%

Our Rating

4.4 / 5

Capital One

360 Performance Savings

See Offer

Sponsored Note: It only takes about 5 minutes to open a fee-free account. Member FDIC.

Member FDIC

4.44%

Our Rating

4.3 / 5

Peak Bank

Envision High Yield Savings

See Offer

Sponsored Note: Member FDIC: Insured up to $250,000. $100 Deposit Earns Interest Immediately.

Member FDIC

up to $300

Our Rating

4.2 / 5

SoFi® Bank, N.A.

SoFi Checking and Savings

See Offer

Sponsored Note: Earn up to $300 with direct deposit, plus 2-day-early-pay. FDIC insured!

Rates

Rates for Novation Credit Union are currently being reviewed.

Locations

Novation Credit Union Locations
Branch Office	45 Hassan St SE	Hutchinson, MN 55350
Branch Office	500 Imperial Ave N	Oakdale, MN 55128-7151

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