REGULATING AGENCY: Minnesota Department of Commerce; Financial Institutions Division
- Grace Arnold, Commissioner
- Max Zappia Deputy, Commissioner of Financial Institutions Division
- Aeton de Long-Hersh, Chief Examiner State Chartered Credit Unions
- Website: mn.gov/commerce/industries/financial-institutions/credit-union
- Media/News Sources
LEAGUE: Minnesota Credit Union Network
PRIVATE SHARE INSURANCE: No
STATS: (As of Q4 2021)
Total Number of Credit Unions: 93
- TOTAL # SCUs: 64
- TOTAL # FCUs: 29
- SCU % OF TOTAL (SCUS #/STATE TOTAL #): 69%
Total Assets: $35,859,423,811
- TOTAL $ SCU ASSETS: $26,922,525,139
- TOTAL $ FCU ASSETS: $8,936,898,672
- SCU % OF TOTAL ASSETS (SCUS $/STATE TOTAL $): 75%
Total Members: 2,013,083
- TOTAL Members SCUs: 1,433,869
- TOTAL Members FCUs: 579,214
- SCU % OF TOTAL (SCUS/STATE TOAL): 71%
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.
May 2022 – The Minnesota Credit Union Foundation said it has launched an effort to raise $1 million in capital from the credit union community to support the establishment of Village Financial Credit Union, a Black-led de novo credit union.
CUNA Mutual Group recently announced it will be offering a donation match – dollar for dollar up to $250,000 – for individuals and credit unions who donate now through June 30, 2022.
“CUNA Mutual Group believes brighter financial futures should be accessible to everyone. As a result, we are proud to provide this support and hope this match opportunity encourages those in our movement who have not provided a donation to do so now,” said Gerry Singleton, vice president of credit union system relations. “Supporting this effort aligns with who CUNA Mutual Group is an organization and ties directly to our mission of building economic empowerment and financial security for everyone.”
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