Banking Rates & News

Rochester Metro Area

Including Rochester, Mason City, Albert Lea, Austin, Charles City, Stewartville, Spring Valley, Kasson, Osage, St. Charles, 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

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
59 Month And 17 Month CD Specials At Altra Federal Credit Union
2.25% apy 59 month CD 1.25% apy 17 month CD $25,000 minimum or $1,000 min w/checking Limited time offer https://www.altra.org/personal/savings/thrive-certificate Open to residents of La Crosse, Wi and parts of
Earn $150 When Opening An Associated Bank Wild® Checking Account
Availability: Market area includes Illinois, Minnesota, and Wisconsin. Wisconsin-based Associated Bank, N.A. (Associated Bank) has had a series of $150 checking bonuses in the past that were sports team themed.
Wells Fargo Offers Easy $250 Checking Bonus
UPDATE 3/18/2017: Offer extended through April 1, 2017. The fine print on the promotion page now reads, "This is an exclusive, nontransferable offer. This is only available to Wells Fargo
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