Novation Credit Union
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | ACCOUNT NAME |
|---|---|---|
| 1.00% | Reward Checking | Incentive Checking 1.95% - National Average |
| 0.90% | 5-year CD | 60 Month CD |
| 0.10% | 1-year CD | 12 Month CD 1.80% - Ally Bank No Penalty 11-Month CD |
Novation Credit Union is headquartered in Oakdale and is the 30th largest credit union in the state of Minnesota. It is also the 1,261st largest credit union in the nation. It was established in 1954 and as of March of 2018, it had grown to 26 employees and 14,495 members at 4 locations. Novation Credit Union's money market rates are 14% higher than the national average, and it has an A health rating.
Field of Membership Restrictions
Membership is open to employees and retirees of 3M and to the community of McLeod County in Minnesota.
See current membership details
Data as of Q1 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 65063 |
| Year Chartered | 1954 |
| Employees | 26 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.76% |
| Return on Equity - YTD | 9.66% |
| Annual Interest Income | $1.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2018vs Q1 2017 | $151.0MM$136.2MM |
| Loans | Q1 2018vs Q1 2017 | $122.0MM$111.1MM |
| Deposits | Q1 2018vs Q1 2017 | $138.6MM$124.5MM |
| Equity Capital | Q1 2018vs Q1 2017 | $11.5MM$10.6MM |
| Loan Loss Allowance | Q1 2018vs Q1 2017 | $327.00K$433.00K |
| Unbacked Noncurrent Loans | Q1 2018vs Q1 2017 | $302.00K$214.00K |
| Real Estate Owned | Q1 2018vs Q1 2017 | $0$0 |
Always verify rates and promotions with the bank or credit union. We are not Novation 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.
Novation Credit Union Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.10% | - | - | Primary Savings | |
| 0.10% | - | - | Health Savings Account |
Novation Credit Union Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.50%* | $75k* | - | Money Market | ||
| OTHER TIERS: 0.35% → $2,500 - $75k | |||||
Novation Credit Union Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 1.00% | - | $25k | Incentive Checking - Qualifying |
Novation Credit Union CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 1.00% | $500 | - | 24 Month CD | |
| 0.90% | $500 | - | 60 Month CD | |
| 0.60% | $500 | - | 48 Month CD | |
| 0.45% | $500 | - | 36 Month CD | |
| 0.15% | $500 | - | 18 Month CD | |
| 0.10% | $500 | - | 12 Month CD |
Novation Credit Union IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 1.00% | $500 | - | 24 Month IRA | |
| 0.90% | $500 | - | 60 Month IRA | |
| 0.60% | $500 | - | 48 Month IRA | |
| 0.45% | $500 | - | 36 Month IRA | |
| 0.15% | $500 | - | 18 Month IRA | |
| 0.10% | $500 | - | 12 Month IRA |
| Novation Credit Union Locations | ||
|---|---|---|
| Branch Office | 45 Hassan St SE | Hutchinson, MN 55350 |
| Branch Office | 500 Imperial Ave N | Oakdale, MN 55128-7151 |
| Branch Office | 3M Bldg 222 2501 Hudson Road | Maplewood, MN 55144-0001 |
| Branch Office | 3M Bldg 275 2501 Hudson Rd | Maplewood, MN 55144-0001 |