Central Minnesota Federal Credit Union
Headquarters
20 S 4th Ave E, Po Box 10
Melrose, MN 56352
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2024 Overview
General Credit Union Information
Central Minnesota is an NCUA insured institution located in Melrose, MN. It was founded in 1939 and has approximately $563.63 millions in assets.
Who can join?
Central Minnesota Credit Union membership is open to persons who live, work, worship, volunteer, or attend school in and businesses and other legal entities in the following Minnesota Counties: Becker, Benton, Clay, Douglas, Grant, Kandiyohi, Meeker, Morrison, Otter Tail, Pope, Sherburne, Stearns, Todd, Wadena, Wilkin, Wright; North Dakota Counties: Cass and Richland.
Blood relatives of regularly qualified credit union members are also eligible to join.
| NCUA Insured | Yes / Federally Chartered |
| Charter Number # | # 24654 |
| Date Established | 1939 |
| Assets | $563.63 million |
| Loans | $438.16 million |
| Deposits | $457.52 million |
| Capital | $84.50 million |
Field of Membership Restrictions
Membership in Central Minnesota Credit Union is open to those who live, work, attend school or worship in Becker, Benton, Clay, Douglas, Grant, Kandiyohi, Meeker, Morrison, Otter Tail, Pope, Sherburne, Stearns, Todd, Wadena, Wilkin, and Wright Counties in Minnesota or in Cass and Richland Counties in North Dakota.
Deposit Rates - April 25, 2024
Your Current Location: Ohio, OH 43085
We do not yet have rates for Central Minnesota
We're working to get deposit rates for every credit union in the world. Please bare with us until we are able to get rates for this credit union.
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Loan Rates - April 25, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for Central Minnesota
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Ohio 30 Year Fixed Mortgage Rates 2024
| Lender | APR | Rate (%) | Points | Fees | Monthly Payment |
Learn More |
|---|---|---|---|---|---|---|
NMLS ID: 401822 |
6.944% | 6.750% | 1.00 | $6,400 | $2,076 | Learn More |
NMLS ID: 3030 |
7.476% | 7.375% | 1.00 | $3,200 | $2,211 | Learn More |
NMLS ID: Not a Lender |
Learn More | |||||
NMLS ID: 491986 |
Learn More |
Featured - Ohio Home Equity Line Of Credit Rates 2024
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Third Federal Savings and Loan See Table |
7.490 %
|
$0 |
Learn More
More Info |
Note to Central Minnesota
To upload and update your bank's rates please register.
It is free to register and add rates.
Branches
Below are Central Minnesota branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Columbus,Ohio
Climate Policy and Initiatives
CENTRAL MINNESOTA is encouraged to provide us with this information. When we receive this information from the credit union, we will provide it here.
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Financial Details
Central Minnesota Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Central Minnesota. The data is provided by the NCUA. All credit unions on BestCashCow, except those specified as not NCUA-insured in the overview section above, are NCUA-insured. Depositors should be careful to remain within NCUA insurance limits.
Texas Ratio
| Central Minnesota | U.S. Average |
|---|---|
| 16.93% | 6.97 |
The Texas Ratio compares the amount of loans at risk and assets repossessed with the amount a credit union has on hand to cover any losses. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a credit union has to absorb its loan losses.
As of December 31, 2023, Central Minnesota had $8,755,805 in non-current loans and $6,008,840 in owned assets. To cover these potential losses it had $84,496,657 in net worth and $2,719,498 in loans loss reserves. That gives it a Texas Ratio of 16.93%.
Net Worth
| Central Minnesota | U.S. Average |
|---|---|
| 14.99% | 13.62% |
Central Minnesota FCU has a net worth of 14.99% versus the BestCashCow average of 13.62. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.
Customer Reviews for Central Minnesota
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