Minnesota

REGULATING AGENCY: Minnesota Department of Commerce; Financial Institutions Division

Minnesota State Capitol

ACCREDITED: 2017

LEAGUE: Minnesota Credit Union Network

  • Mark D. Cummins, President/CEO
  • Website: mncun.org

PRIVATE SHARE INSURANCE: No



2024 STATS 
  • Largest SCU: WINGS FINANCIAL CU $9.89B in assets
  • Largest FCU: AFFINITY PLUS FCU $4.23B in assets
First Quarter 2024 SCUs FCUs Total CUs % of SCUs/Total
Total Credit Unions 61 25 86 70.93%
Credit Union Members 1.57M 0.59M 2.16M 72.71%
Credit Union Assets $32.88B $9.09B $41.97B 78.34%


FUN FACT

The first practical water skis were invented in 1922 by Ralph W. Samuelson, who steam-bent 2 eight-foot-long pine boards into skies. He took his first ride behind a motorboat on a lake in Lake City.


RECENT NEWS
Royal Credit Union receives two awards from the Minnesota Credit Union Network

January 5, 2024 — Royal Credit Union (Royal) received an Engagement and Outreach Award and a Digital Advertising Award from the Minnesota Credit Union Network (MnCUN). The awards were presented by MnCUN during an in-person ceremony on December 13, 2023.

The Engagement and Outreach Award recognizes Royal’s Correctional Facility Financial Education (CFFE) program, which teaches responsible spending, building a budget, managing a checking account, borrowing money, and setting financial goals to a justice-involved population that would otherwise not have access to financial education. In 2023, Royal brought their programming to the Hennepin County Jail in Minneapolis, making it their eleventh correctional facility partnership across Minnesota and Wisconsin. In addition to facilitating the CFFE program in the Hennepin County Jail, Royal also continually supports job training and other post-incarceration support through yearly donations to Hennepin County Sheriff Dawanna Witt’s HOPE program.

The Digital Advertising Award recognizes Royal for their social media influencer campaign with Minnesota influencer couple and long-time Royal Members Josue and Sarah, whose social media accounts are focused on home renovation tips and do-it-yourself projects. In a video posted to Instagram, TikTok, and YouTube, the couple showcased a tutorial for a do-it-yourself end table while sharing the benefits of having a checking account with Royal. This campaign was a great success in increasing user engagement on Royal’s social media profiles.


STORY ARCHIVE

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