CUNA's Minnesota Credit Union Profile for the first quarter 2021 finds that Minnesota's 99 credit unions total 33.5 million in assets. For the 12 months ending in March 2021, Minnesota credit unions experienced a 24.6% growth in assets, compared to the national average of 19%. Additionally, membership in Minnesota credit unions increased 3.5%.
In its Membership Benefits Report, CUNA estimates that Minnesota credit unions provided over $220 million in direct financial benefits to the state's nearly 1.9 million members from March 2020 to March 2021. The benefits are the equivalent to $117 per member or $246 per household.
“Minnesota credit unions show continued growth in assets and membership demonstrating that credit unions are increasingly becoming the financial institution of choice for consumers,” said Mark Cummins, MnCUN President & CEO.
Both reports are available on the Publications page of mncun.org along with information and resources available exclusively to member credit unions.
The Pulse is MnCUN's newsletter that keeps credit union professionals and board members updated on current news and information.