Montana

REGULATING AGENCY: Montana Department of Administration; Division of Banking & Financial Institutions

Montana State Capitol

  • Melanie Hall, Commissioner
  • Rick Christianson, Credit Union Bureau Chief
  • Website: banking.mt.gov

LEAGUE: Montana Credit Union Network

  • Gerry Singleton, President/CEO
  • Website: mcun.coop

PRIVATE SHARE INSURANCE: YES



2023 STATS 
  • Largest SCU: WHITEFISH CREDIT UNION ASSOCIATION CU $2.09B in assets
  • Largest FCU: CLEARWATER FCU $1.03B in assets
Fourth Quarter 2023 SCUs FCUs Total CUs % of SCUs/Total
Total Credit Unions 9 34 43 20.93%
Credit Union Members 0.19M 0.24M 0.43M 44.21%
Credit Union Assets $3.92B $3.63B $7.55B 51.94%


FUN FACT

The only state in the US with a Triple Divide, which allows waters to flow to Hudson Bay, the Atlantic Ocean, and the Pacific Ocean.


RECENT NEWS
Montana legislators write about threat from big box interchange bill

November 30, 2023 – The big box interchange bill would have major negative impacts on credit unions, community banks, and the people they serve, Montana Reps. Steve Gunderson, R, and Ron Marshall, R, wrote in the Flathead Beacon this week.

“New regulations on interchange fees and routing mandates on credit card transactions coming in the form of the 2023 Credit Card Competition Act would have significant implications for our rural banks,” they wrote. “We’ve seen this before. A similar set of regulations, known as the “Durbin amendment,” were imposed in 2010 related to debit card transactions. That legislation resulted in small banks having to raise fees on customers and cut back on services offered, for instance free checking.”


STORY ARCHIVE

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