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FAQs

Can I join Minnco?

Yes, you can! While many credit unions’ original fields-of-membership were quite selective, many have expanded to include everyone in the communities they serve. That means that if you live in, work in, attend school in, or worship in a particular geographic area, you can join. Or, if you are a blood relative of a member, you can also join!


Uhh… What’s a field of membership?

A field of membership (FOM) defines a group or groups of people who are eligible to join. For instance, some credit unions were started to serve the employees of a particular business (Target, General Mills, etc.). Other credit unions were formed to serve teachers, government employees, communities and even parishes. Minnco’s original FOM served the members of the local farmer’s coop, which is now a part of Federated Co-ops (whom we still happily serve)!


So what is Minnco’s FOM?

Membership in Minnco Credit Union is composed of those who are members of Federated Co-ops, Inc., a Minnesota corporation, all persons who live, work, worship, volunteer in, attend school in, businesses and other legal entities located in Isanti, Chisago, Anoka, Benton, Sherburne, Mille Lacs, Washington, Ramsey, Hennepin, Wright, Pine and Kanabec counties. In addition to the regularly qualified member, the spouse of a member, the blood or adoptive relative of either of them and their spouses may also be members.


What does it mean to be a “member"?

First of all, credit union terms can be confusing. Even the term “credit union” misleads people. We are not a “union” in the typical sense, nor are we affiliated with any unions. There are no dues to pay, other than your initial deposit into your savings account. The term “union,” in our case, simply means a united group of people. Everyone who has an account with Minnco is a “member.” Each “member” is an “owner” of the credit union. Each member has one vote, regardless of how much money they might have on deposit. So, when you “join” the credit union, you become a member/owner of Minnco.


What do I need to join? Does it cost anything?

All that is needed to open a savings account with Minnco is a valid I.D. and a small initial deposit. Once the account is open, you must maintain at least $5.00 in your savings account. This money stays in your account until it is closed.


What are the benefits of joining Minnco?

As almost 25,000 people have discovered, there are many benefits to “banking” with Minnco. In general, Minnco pays higher dividends on savings, checking and certificates; charges lower interest on car loans and home equity loans; and has fewer and lower fees than a bank does. Minnco does this while providing the same overall products and services as a bank: savings, checking, check cards, credit cards, loans, safe deposit boxes, direct deposit, online banking, online bill pay, mobile banking, ATMs, drive-thrus, and extended hours. Recent studies indicate that the typical consumer can save over $190 annually by using a credit union!


How can Minnco pay more on savings while charging less for loans?

Simply put, we’ve eliminated the “middle man.” Banks are owned by stockholders, and stockholders demand returns on their investments. Banks are PROFIT-driven. Minnco, and other credit unions, are SERVICE-driven. We’re not here to generate a profit, but to provide a service to our members. Any “earnings” are turned back to you, the member/owner, in the form of better rates, lower fees, more offices, more hours, more staff, etc.


Let me see if I got this right. You offer the same products and services that a bank does, but you’ll save me money?

That’s right. And many of our products and services are better than you’ll find at a bank.


Are you like a cut-rate, no-frills, warehouse for financial services?

Not at all. We don’t skimp on service. We don’t cut back on hours. We make it EASY to do business with us. If anything, you’ll notice faster and more personal service at Minnco offices. We operate 5 full-service offices and 5 24-hour ATMs in East Central Minnesota. No one—bank or credit union—has made a larger commitment to serve this area than Minnco has. That’s why it’s called “Minnco Country!”


What if I move out of the area?

No problem. “Once a member, always a member.” Though it may be more convenient in some instances to open an account at a credit union or bank near your new home (we’d recommend the credit union!), there’s no need to end your relationship with Minnco. With Direct Deposit of your paycheck and using your Minnco Check Card and ePay, there’s really no need for a local office near you. Plus, you’ll always have access to your accounts with eBranch, our online banking program, and TouchBanking, our mobile banking service. You can always call us direct using our toll-free number. And you can keep up-to-date with any new developments at Minnco via our website or eNews newsletter.


Are you still providing notary services, wire transfers and cash advances?

Yes, we are offering these services through our drive-thrus and appointments can be made. Make sure to visit the lane closest to the building for these services as they take longer than the typical transactions.


What is the daily cash withdrawal limit?

$5,000. If you require a larger amount, call us at 763-689-1071 with your request. Please contact us the day before you need the withdrawal. We can also issue you a cashier’s check.


If I need to dispute a charge on my debit card, do I make an appointment or come in right away?

Disputes are handled over the phone or by email; there is no need to visit a branch. Call 763-689-1071.


Are there ways I can protect more than $250,000 in my account?

Yes, there are several options. If you and your spouse are joint on an account, this account will be protected up to $500,000. You can each have individual accounts insured for up to $250,000. In this way, you could have up to $1,000,000 covered by the NCUA insurance. Learn more about protecting your deposits.


How do I get access to my safe deposit box?

Call 763-689-1071 to schedule an appointment at the office where your box or boxes are located.


  • We love to hear what our members are saying!

    I can always count on many employees to know who I am and get my requests done even being out of state! 
    Karen H.
  • We love to hear what our members are saying!

    I love Minnco because everyone is friendly and efficient. You can build a relationship with the staff at Minnco and be welcomed with a friendly face. 
    Laura D.
  • We love to hear what our members are saying!

    I have been a member since 1980 - and I wouldn't go to any other bank!!!!
    Nan L.
  • We love to hear what our members are saying!

    Minnco has always been easy to work with for all of my questions and loan needs.
    Paul S.
  • We love to hear what our members are saying!

    Compared to any other bank I have been with or known people to use, Minnco is the best with service, especially when you need help.
    Katrina A.
  • We love to hear what our members are saying!

    I love Minnco because they have always been there to help me with my banking needs.  The staff are always super friendly whenever I have any questions.
    Cheryl W.
  • We love to hear what our members are saying!

    I love it when I come through the drive through and they know who I am and call me by name.  This is personal service which is missed in the world today.  It makes me feel like I am valued by Minnco.  
    Emilie B.
  • We love to hear what our members are saying!

    I love Minnco because they always make everything so easy. I have had several loans and the process is quick and easy.
    Cynthia
  • We love to hear what our members are saying!

    It's not a national level chain of branch offices... it's local banking for local people.
    Paul A.
  • We love to hear what our members are saying!

    I love Minnco because of the fast service and friendly faces.
    Miah G.
  • We love to hear what our members are saying!

    I grew up with them as a bank and they taught me about how banking works, and were always friendly, and made me less nervous when it was time to do things myself.
    Jessica B.
  • We love to hear what our members are saying!

    I enjoy being able to call in when I need something and talk to someone local unlike the big banks. Your customer service is great and that goes a long way!
    Andrew J.
  • We love to hear what our members are saying!

    I love Minnco because they know who I am, even through the car window!
    Melanie G.
  • We love to hear what our members are saying!

    I love Minnco because I never feel like just a number to them. They take great pride in their members and they have always given me great service with a smile. I honestly could go on and on about the many reasons why I love them, because they are seriously amazing.
    Amanda W.
  • We love to hear what our members are saying!

    Minnco has always been there for me. I have traveled all over the country and the world now for the Minnesota Guard. I have been able to always and reliably count on Minnco to have my back with customer service and great rates. Minnco is always helpful with whatever I need to be successful.
    Ross R.
  • We love to hear what our members are saying!

    Since Day 1, Minnco has been nothing but good to us and for us!!!
    Nate N.
  • We love to hear what our members are saying!

    Always there right away when I need them!
    Suzannah M.
  • We love to hear what our members are saying!

    Local, hometown, friendly bank. Due to the downturn in the economy many years ago, Minnco made it possible for us to get our life back on track financially after a job loss. We wouldn't be where we are today without their help years ago.
    Anne R.
  • We love to hear what our members are saying!

    Love the friendly, knowledgeable staff that will go above and beyond if/when needed. Great service without the corporate feel of the big banks.   
    Sandy S.
  • We love to hear what our members are saying!

    I love the people, I love the ease ability of banking, and there is never any hassle when it comes to working with Minnco.
    Jeff W.

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