Credit Unions

The Minnesota Department of Commerce supervises and examines state-chartered credit unions to determine the safety and soundness of operations plus fair and equal treatment of members. We support the state's economy through safeguarding Minnesota's credit unions. Commerce enforces laws, rules, and regulations under Minnesota State Statute 52.

Emergency Closings Related to COVID-19, Credit Unions (.pdf)

Annual Meeting of Members (.pdf)

Applications
Amendments
Forms
Requirements

Applications
- Credit Union Application (.pdf)
  Forms to establish a State Chartered Credit Union.
- Credit Union Merger (.pdf)
  Forms for merger of credit unions.
- Credit Union Small Group Application (between 500 and 3,000) (.pdf)
  Petition by a group of 500 to 3,000.
- Credit Union Small Group Application (under 500) (.pdf)
  Petition by a group under 500.
- Federal Credit Union to State Chartered Credit Union Application (.pdf)
  Forms to convert from a Federal Credit Union to a State Chartered Credit Union.
- State Credit Union to Federal Credit Union Application (.pdf)
  Forms for a State Chartered Credit Union to convert to a Federal Credit Union.
Amendments

2018
- Standard Credit Union Bylaws, effective March 2018 (.pdf)
2017 and prior
- Credit Union Address Change (.pdf)
- Credit Union Field of Membership - Community (.pdf)
  Requirements to amend the Field of Membership for the addition of a Community.
- Credit Union Field of Membership - Trade, Industry, or Profession (.pdf)
  Requirements to amend the Field of Membership for the addition of a Trade, Industry, or Profession.
- Credit Union Name Change (.pdf)
- Credit Union Standard Bylaw (.pdf)
- Credit Union Standard Bylaw Amendment (.pdf)
Other Forms
- Credit Union Report of Annual Meeting (.pdf)
- Credit Union Semi-Annual Supervisory Committee Audit Report (.pdf)
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 Minnesota State Statute Chapter 52
Please contact 651-539-1709 for further assistance.