Minnesota Valley Federal Credit Union Info + Review

Minnesota Valley Federal Credit Union is our focus here. I’ll be reviewing the important points about them, like history, eligibility, and what they offer. After reading this, you should be in a good position to make an educated decision about working with this financial institution.

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Routing #: 291981255*

A Little History

Similar to other credit unions in this state, MVFCU was formed by a group of employees back in the early 30’s. They were teachers at Mankato High School who needed a reliable financial institution.

Something that I think is really neat (that just shows how far they’ve come) is that their first official office was a janitor’s closet. Now, they have $223 million+ in assets with 16,000+ members.

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Membership at Minnesota Valley Federal Credit Union

This CU keeps things pretty local for membership requirements. While some open it up to everyone (and arguably get way too big) there’s only four counties that qualify here.

As usual, you need to live, work, worship or attend school in one of them. Those are Blue Earth, Nicollet, Le Sueur, or Waseca Counties. In addition to operating out of one of those places, if you have an immediate family member who belongs, they can get you in, too.

What They Offer At Minnesota Valley Federal Credit Union

Their savings accounts can give you a place to store your emergency fund, according to their site. They’re the first credit union I’ve looked at (I think) where they mention emergency funds. I’m sure others have articles somewhere, but, this one mentioned it right on the front page.

Their “Primary Share” savings account is the main one you can get. Starting one of those just involves depositing $5. They clarify that it’s not a fee, so, if you close your account at Minnesota Valley Federal Credit Union, you will get that opening deposit money back.

They have money market accounts, health savings accounts (HSAs), holiday club accounts, and a vacation savings accounts. The holiday and vacation accounts are essentially dedicated accounts to save for holidays and vacations.

I’m not sure how much it much it makes sense for a dedicated account to save for those things, but, whatever works. Moving on.

You can’t have a savings account without a solid checking account to go with it, right?

Checking Accounts at Minnesota Valley Federal Credit Union

They have a couple different personal checking accounts here. You can choose from either the Member Choice Checking account or their Emeritus Club Checking account.

In addition to those, they also offer a second checking account option. This is the first credit union I’ve seen to offer something like that. At the same time, I’m assuming others would allow it if you asked.

You can get business checking services along with ATM services, too. They are part of the Moneypass network, which means that you have access to 33,000+ ATMs that are surcharge-free.


You can select from a handful of loans at Minnesota Valley Federal Credit Union. Those include auto loans, mortgages for homes, home equity, personal loans, student loans, and business loans.

Their rates are pretty competitive compared to the industry as a whole. Almost all of their APRs are under 3% for car-related loans as of this writing. All but 1 of their home equity loans are under 8% as of this writing. The 240 month term one is 8.24%.

Minnesota Valley Federal Credit Union – Final Thoughts

MVFCU is a good looking credit union if you need somewhere to put your money. They also have competitive loan products in case you need to make a big purchase.

You will need to be operating relatively close to be a member here. It’s not like others where practically anyone in the United States can join if they have x or y qualification.

Have a review of Minnesota Valley Federal Credit Union that you’d like to submit? Send it to [email protected] to be included.

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*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.

*This site is not affiliated with the Credit Union mentioned in this article.