Banking Rates & News

Rochester Metro Area

Including Rochester, Mason City, Albert Lea, Austin, Charles City, Stewartville, Spring Valley, Kasson, Osage, Clear Lake, and 61 other towns.

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Banking in the Rochester Area

Rochester, Minnesota, is the largest city in the state outside of the Twin Cities metropolitan area. Located in southeast Minnesota near the borders with Iowa and Wisconsin, Rochester has a population of about 110,000 people. Its larger population area, which includes the cities of Austin, Albert Lea, Charles City, Stewartville, Spring Valley, Kasson, Clear Lake, and Rushford, has more than 200,000 people.

Rochester is home to the Mayo Clinic, one of the most well-known healthcare systems in the world. It also is home to a major IBM manufacturing plant. Perhaps due to the presence of two large companies and its location close to two other states, Rochester has a large banking industry.

There are approximately 40 banks and 20 credit unions with headquarters in Rochester or the surrounding region. Notable institutions include Think Mutual Bank, First Citizens National Bank, Mayo Employees Federal Credit Union, and Home Federal Savings Bank. The oldest locally-based financial institution still operating is Root River State Bank, which was established all the way back in 1856. Altogether, including out-of-area banks that operate in the Rochester region, there more than 75 banks and 20 credit unions with a total of about 280 branches.

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Local Deals & News

U.S. Bank Chicagoland CD Specials - 2.05% 59-Month
In today’s Chicago Tribune 2.05% apy 59-month CD 1.01% apy 11-month CD $1,000 minimum $249,999 maximum Offer only valid at Chicago metro area U.S. Bank locations
US Bank Offers $200 Summer Checking Bonus
UPDATE 7/10/2017: As some DA readers have noted in the Comments section below, this offer is not available nationwide. I have included more detail in the Availability section below. Thank
$150 Wells Fargo Checking Bonus - Select Cities
If you missed the previous $250 bonus and you live in an eligible city, you may want to give this a try. To get a $150 bonus, open an Everyday
Wells Fargo Long Term 3.00% Callable Step-Up CD Via TD Ameritrade
I frequently get notices of new issue callable CDs from TD Ameritrade. This one looks like a rate leader. My calculations indicate the blended rate over the entire term is
Earn Up To $300 in Bonuses At Associated Bank (WI)
Deal Summary: $150 checking bonus; $100 Money Market bonus. Availability: Market area includes Illinois, Minnesota, and Wisconsin. Wisconsin-based Associated Bank, N.A. (Associated Bank) has had a series of $150 checking
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