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Credit Union Requirements

Requirements

  • Must be organized by 7 or more Minnesota residents

  • Those original 7 residents must share a common bond

  • Provide a 2-year feasibility study

  • Must receive federal insurance on accounts

  • $1,000 initial application fee

  • See MS Chapter 52

Changes to the Authorization

Please contact 651-539-1703 for further assistance.


For a list of state chartered credit unions, go to the Financial Industry Licensees lists.