Magnifi Financial Credit Union Melrose, Minnesota
Magnifi Financial Credit Union is a state-chartered credit union headquartered in Melrose, MN, established in 1939 (NCUA charter 68604), and it is regulated and insured by the NCUA. At Q2 2026 it reported 85,513 members and total assets of $2.75B (up 9.6% from Q2 2025), the 4th largest of 79 credit unions headquartered in Minnesota. Its net worth ratio was 11.04% at Q2 2026, in the well capitalized band.
Also written as Magnifi Financial CU
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Data as of · sourced from NCUA 5300 call reports. How we update
- Charter
- State-chartered credit union
- Regulator
- NCUA
- Deposit insurance
- NCUA (NCUSIF)
- NCUA charter number
- 68604
- Headquarters
- Melrose, MN
- Established
- 1939
- Total assets, Q2 2026
- $2.75B
- Assets vs Q2 2025
- +9.6%
- Members, Q2 2026
- 85,513
- Net worth ratio, Q2 2026
- 11.04%
- Latest call report
- Q2 2026, NCUA 5300 · Magnifi Financial Credit Union call report
- Asset rank in state
- 4th of 79 in Minnesota
- Routing number
- 291974204
- Branches
- 29
It has 736 more members than on June 30, 2025 (+0.9%). Its net worth ratio was down 0.18 percentage points from 11.22% on June 30, 2025. Commercial loans are its largest loan category, $1.47B of $2.26B in total loans on its June 30, 2026 filing. Its 60-day delinquency ratio of 0.21% is below the 0.68% median of the 454 credit unions with $1B to $10B in assets for Q2 2026. Its 11.04% net worth ratio is above that band's 10.89% median.
Credit unions similar in size in Minnesota
Credit unions merged into Magnifi Financial Credit Union
Financial One Credit Union (2022) · Soo Line Credit Union (2019) · Collegeville Community Credit Union (2017) · Moorhead Teachers Credit Union (2014)
Frequently asked about Magnifi Financial Credit Union
How big is Magnifi Financial Credit Union?
At Q2 2026 it reported total assets of $2.75B and 85,513 members.
Where is Magnifi Financial Credit Union headquartered?
It is headquartered in Melrose, MN, United States.
When was Magnifi Financial Credit Union founded?
It was established in 1939, per NCUA records.
Is Magnifi Financial Credit Union FDIC insured?
No. The FDIC insures banks, not credit unions. It is a federally insured credit union (NCUA charter 68604): member shares are insured by the National Credit Union Share Insurance Fund, run by the NCUA, up to $250,000 per member, per insured credit union, for each account ownership category, the same limit the FDIC applies to bank deposits.
Who regulates Magnifi Financial Credit Union?
It is a state-chartered credit union, supervised by its state credit union regulator and by the NCUA, which insures its shares.
Is Magnifi Financial Credit Union well capitalized?
Its net worth ratio was 11.04% at Q2 2026, in the well capitalized band. NCUA considers a credit union well capitalized at a net worth ratio of 7% or higher.
What is Magnifi Financial Credit Union's delinquency ratio?
Its delinquency ratio was 0.21% at Q2 2026: loans 60 or more days past due as a share of total loans.
What is Magnifi Financial Credit Union's loan-to-share ratio?
Its loan-to-share ratio was 99.58% at Q2 2026: total loans as a share of member shares and deposits.
Credit Union Profile
- Headquarters
- Melrose, MN 56352
- Charter Type
- State-chartered credit union
- Primary Regulator
- NCUA
- Insurance
- NCUSIF
- Established
- 1939
- NCUA Charter #
- 68604
- RSSD ID
- 737696
- Members
- 85,513
- Potential members
- 4,661,442
Size & Membership
Profitability
Q2 annualizedCapital & Asset Quality
Peer comparison: credit unions of similar size
It ranks against 454 credit unions with $1B to $10B in assets, as of Q2 2026. It is in the top quartile on 1 of 7 ranked measures.
| Metric | This credit union | Peer median | Rank among peers |
|---|---|---|---|
| Net worth ratio Middle half of peers: 9.81% to 12.63% | 11.04% | 10.89% | 52nd above |
| Return on assets Middle half of peers: 0.59% to 1.25% | 0.78% | 0.89% | 41st below |
| Return on equity Middle half of peers: 5.37% to 10.92% | 7.07% | 8.07% | 41st below |
| Net interest margin Middle half of peers: 3.05% to 3.80% | 3.50% | 3.45% | 54th above |
| Efficiency ratio Middle half of peers: 63.16% to 77.23% | 67.58% | 70.59% | 60th above |
| Cost of funds Middle half of peers: 1.37% to 1.99% | 1.85% | 1.68% | 37th below |
| Delinquency ratio Middle half of peers: 0.45% to 1.05% | 0.21% | 0.68% | over 90th top |
| Yield on assets Middle half of peers: 4.70% to 5.46% | 5.35% | 5.12% | 67th position only |
| Loan-to-share ratio Middle half of peers: 78.23% to 95.19% | 99.58% | 88.03% | 84th position only |
Quarterly trends
Last 6 quarters of 5300 filings. Under each chart, Q2 2026 against Q2 2025. How these charts are built
$2.75B total assets against $2.51B; $2.27B total shares and deposits against $2.10B; $2.26B total loans against $2.02B.
$304.0M net worth against $281.9M.
11.04% net worth ratio against 11.22%.
99.58% loan-to-share ratio against 96.23%.
0.21% delinquency ratio against 0.46%.
0.78% return on assets against 0.85%; 7.07% return on equity against 7.55%.
3.50% net interest margin against 3.06%.
85,513 members against 84,777.
Quarterly trend: last 6 quarters
| Quarter | Net worth ratio | ROA | Delinquency | Loan-to-share |
|---|---|---|---|---|
| June 30, 2026 | 11.04% | 0.78% | 0.21% | 99.58% |
| March 31, 2026 | 11.18% | 0.45% | 0.18% | 96.60% |
| December 31, 2025 | 11.20% | 1.16% | 0.36% | 100.00% |
| September 30, 2025 | 11.06% | 0.43% | 0.47% | 99.43% |
| June 30, 2025 | 11.22% | 0.85% | 0.46% | 96.23% |
| March 31, 2025 | 11.09% | 0.44% | 0.44% | 94.01% |
Scroll sideways to see every column.
How we read these figures
Glossary: net worth ratio, delinquency, ROA, loan-to-share. The net worth category is ours, from NCUA's 7% well and 6% adequately capitalized cutoffs. It is not NCUA's determination, which can differ. ROA, ROE and margin annualize the quarter; NCUA's Financial Performance Report annualizes the year to date (YTD). Peer rank interpolates size-band percentiles. Methodology.