Affinity Plus Federal Credit Union Review

Affinity Plus Federal Credit Union is the CU that I’ll be covering here. They are a not-for-profit like the other credit unions out there to store your money. You also get a great story with them.

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They were founded in a similar way to the others in Minnesota. A group of state employees got together and decided that they wanted a decent financial institution. Instead of finding a bank – you guessed it – they formed their own credit union.

If you think this sounds like a new one, it’s actually been around since 1930. They changed names in 1999 from State Capitol Credit Union to Affinity Plus.

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Affinity Plus Federal Credit Union Products

They offer the typical suite of products that you can find at a solid credit union. Their personal products include checking, credit cards, certificates, gift cards, savings accounts, money markets and IRAs. There are a handful of other lending + advisory products in addition to those.

If you have a business, they offer checking, savings, business certificates and business credit cards. You can also get various business loan products from Affinity Plus Federal Credit Union.

There’s even things like Cash & Coin Delivery, Merchant Services, and Other Small Business Resources. Let’s jump back to the consumer side and see those checking accounts.

Their Checking Accounts

Affinity Plus offers two main personal checking accounts: their Better Than Free Checking and Interest Reward Checking. It looks like both include Digital Banking, Account Security, Easy Cash Access, and MyPlus Rewards. Each of those items have sub-details, but, we’ll go into those in a minute.

Affinity Plus Better Than Free Checking

This account is best if you’re on a lower budget. It’s big claims to fame are that no minimum balance is required and there’s no monthly fees. They also tout that you have a network of 60,000+ ATMs available with no fees attached to them, either.

Having one of these accounts allows you to use their digital banking services. That’s helpful because you can deposit checks from anywhere on their mobile app. Affinity Plus also has an automatic bill pay function available, so you can make payments simpler.

They have an option for you to enroll in digital statements, too. That seems pretty standard among other credit unions. You also get some debit card extras, like their MyPlus Rewards points, rounding up on purchases to save, and various card controls so you can set alerts and limits from their digital banking service.

There are also some other perks, like being able to waive 1 Courtesy Pay/Non-sufficient fund fee each year. Normally, that would be $35.

You also get some starter checks, which is nice, considering that this account has no monthly fee or minimum. Typically, I only see the free checks on accounts that have some type of minimum requirement.

If you want to add some more bells and whistles to your checking account, the Interest Reward Checking from Affinity Plus is a good one to look at.

Interest Reward Checking

This account allows you to earn dividends on your money, which is always a great feeling. The minimum balance requirement of $200 is reasonable, too.

This account can get you up to 4 free boxes of checks per year if you go through checks like a wild animal. If wild animals used human financial products. I use about one check every few months at most, personally.

The APY And Other Benefits

As of this writing, Affinity Plus has a great annual percentage yield, or APY of .125%. This account also comes with all the same benefits the Better Than Free does and then some.

You can get free cashier’s checks at any branch and a yearly credit report from them as well.

Member Eligibility

There are a handful of ways to become eligible for Affinity Plus. If you live, work, or worship in certain MN cities, you qualify. Those are Arden Hills, Downtown Minneapolis, Mounds View, New Brighton, Roseville, Shoreview, St. Anthony, and Downtown St. Paul.

You are also eligible if you attend any Minnesota state college or university. Check out their entire list of ways to join, there’s too many others to cover here.

Affinity Plus Federal Credit Union – Final Thoughts

It looks like you can get some solid financial services working with these folks. If you’re looking for a place that’s mostly exclusive to Minnesotans, this is a great option. Even though it’s pretty much MN-only, they still have a big presence with a local feel.

The benefits you get with their Better Than Free Checking account actually are better than what some other CUs offer, so giving them a look is worth your time.

*All information in this article was current at the time of this writing, however, it could change without notice. We do our best to keep these updated, however, there is no guarantee you will find the same information on the CU’s website or at the time of opening an account with them.

Bob Buckley

Bob Buckley writes about food and business.