Magnifi Financial Credit Union

Minnesota

Est. Date:

January 30, 1939

Previous Names:

Melrose Catholic Parish Credit Union, Melrose Credit Union, Central Minnesota Federal Credit Union, Central Minnesota Credit Union, Magnifi Financial Credit Union

Locations:

Albany, Avon, Belgrade, Blaine, Columbia Heights, Coon Rapids, Cold Spring, Freeport, Glenwood, Grey Eagle, Holdingford, Little Falls, Long Prairie, Maple Grove, Melrose, Moorhead, New York Mills, Paynesville, Perham, Sartell, Sauk Centre, Spicer, St. Joseph, Waite Park, Wadena, Fargo

Magnifi Financial is a full-service Minnesota state-chartered credit union with $2.4 billion in assets and serves over 84,000 members. Magnifi Financial offers retail banking, commercial banking, mortgages, and wealth management services to anyone within its field of membership, which includes 32 counties in Minnesota, North Dakota, and Wisconsin.

History

Since 1939, Magnifi Financial Credit Union has celebrated the amazing idea of "Members working together." Our founders truly believed in the magic of collaboration, joining forces to create a fantastic, member-first cooperative that’s all about community! Today, that spirit is shining brighter than ever. From our humble beginnings as Melrose Catholic Parish Credit Union to Magnifi Financial Credit Union, we're excited to keep expanding our services and growing stronger every day to serve our communities!

As one of Minnesota’s largest credit unions and an essential part of the nationwide commercial lending scene, Magnifi Financial is dedicated to standing by our members through all of life's ups and downs. Born from the resilience of the Great Depression, our mission has always been to lend a helping hand and make financial success accessible for everyone.

Magnifi Financial remains committed to its core values of building up our shared communities, providing easy and simple financial solutions, earning the trust and respect of each member through our expertise, and doing what is right for our entire membership.

Participating in local parades all over Central Minnesota

On January 30, 1939, under the direction of Louis Kunkel, the Melrose Catholic Parish Credit Union (now Magnifi Financial Credit Union) was organized to provide low-cost loans to people in St. Boniface and St. Patrick parishes, along with the employees of the credit union who could not obtain loans elsewhere.

On July 26, 1971, the Melrose Credit Union (now Magnifi Financial) bylaws were amended to reflect the legislative changes of 1971 and added, " Once a member, you are always eligible to be a member."