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What's A Credit Union?
A credit union is a not for profit financial institution organized to provide financial services to its members. It is both owned and controlled by its members, with each member having an equal vote and the opportunity to serve on the volunteer board of directors . The National Credit Union Share Insurance Fund, the credit union’s equivalent of the Federal Deposit Insurance Corporation used by banks, insures for each Minnco Credit Union account up to $250,000.
Members pay fewer fees for services, borrow funds at lower interest rates and receive greater dividends on savings accounts which include: Certificates, Individual Retirement and Money Market Accounts, plus a special savings club for children.
Because Minnco Credit Union is a not for profit financial institution and has no investors to satisfy, it can offer competitive lending rates on everything from cars and trucks to home mortgages, home equity loans, and recreational loans including: RVs, campers, boats, motorcycles, and snowmobiles.
A credit union membership is yours for a lifetime. There are no limits or restrictions to where you work or live once you are a member. And, with the added convenience of the Internet, direct deposit, ATMs, debit cards, and eTELL, members can maintain immediate access to their accounts and financial needs from wherever they live or work.
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