Sep, 30, 2025 — CENTRAL MINNESOTA CREDIT UNION is a federally insured state chartered credit union headquartered in MELROSE, MN with 27 branch locations and about $2.57 billion in total assets. Opened 87 years ago in 1939, CENTRAL MINNESOTA CREDIT UNION has about 84,930 members and employs 420 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CENTRAL MINNESOTA CREDIT UNION |
|---|---|
| Address: (Main Office) | 20 4th Ave SE MELROSE, MN 56352 |
| Phone: | (320) 256-3669 |
| Fax: | (320) 256-4532 |
| Website: | https://www.mymagnifi.org |
| Branches: | 27 branch locations |
| Members: | 84,930 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68604 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1939 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $2,573,714,464 |
| CEO/Manager: | Charles B Friederichs |
| Chairperson: | Steven Danzl |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 92,862,415 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 3,257,411 |
| Real Estate Loans | 1,417,313,152 |
| Unsecured Loans | 16,873,519 |
| Other Loans | 679,137,450 |
| TOTAL LOANS | 2,119,250,582 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -27,581,142 |
| Land And Building | 37,718,717 |
| Other Fixed Assets | 3,177,454 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 17,949,460 |
| All Other Assets | 10,715,378 |
| TOTAL ASSETS | 2,573,714,464 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,597,712 |
| Notes & Interest Payable | 164,795,506 |
| Accounts Payable & Other Liabilities | 5,437,153 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 448,746,621 |
| Regular shares | 179,333,379 |
| All Other Shares & Deposits | 1,503,377,044 |
| TOTAL SHARES & DEPOSITS | 2,131,457,043 |
| TOTAL LIABILITIES | 2,303,497,207 |
| Regular Reserve | 0 |
| Other Reserves | 6,565,089 |
| Undivided Earnings | 263,652,168 |
| TOTAL EQUITY | 270,217,257 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,573,714,464 |
| INCOME & EXPENSE | |
| Loan Income | 91,369,442 |
| Investment Income | 6,241,208 |
| Other Income | 8,452,907 |
| Total Employee Compensation & Benefits | 37,834,164 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 21,401,729 |
| Non-operating Income & (Expense) | -974,792 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 7,874,072 |
| Cost of Funds | 39,766,339 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 10,851,713 |
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