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Best Banks & Credit Unions in Minnesota

Compare the best banks and credit unions in Minnesota — up to 4.00% APY, verified fees, minimums, and membership rules from 38+ local institutions.

Minnesota's banking landscape is unusually concentrated — U.S. Bancorp is headquartered in Minneapolis, and the state's credit-union sector is anchored by Wings Financial (former Northwest Airlines SECU) and Affinity Plus FCU, both of which regularly top nationwide yield leaderboards. Affinity Plus's field of membership is open to anyone willing to make a one-time donation to the Minnesota Foundation for Responsible Lending, effectively giving Minnesota residents — and many out-of-state readers — access to some of the best rates in the country. State-chartered institutions are supervised by the Minnesota Department of Commerce's Financial Institutions Division.

State regulator: Minnesota Department of Commerce — Financial Institutions Division. Every institution below is FDIC- or NCUA-insured to $250,000.

Best banks and credit unions in Minnesota 2026

Every bank with a branch in Minnesota

274 FDIC-insured banks run 1,515 full-service offices in Minnesota. 252 of them are community banks, and 207 operate nowhere else. This is the federal record: every figure below is the regulator's own.

Deposits by office come from the FDIC Summary of Deposits, counted each 30 June; the leverage ratio is capital as a share of assets, from each bank's latest Call Report. Nothing here is blended into a score. Search by ZIP to see the offices nearest you.

Every bank we publish a page for in Minnesota

35 of them, largest first. Each page carries the bank's own Call Report figures and every office it runs.

Branches by town in Minnesota

Where a bank runs more than one office in a town, every one of them is listed on a page of its own.

Branch pages in Minnesota

Every office we publish a page for in Minnesota, by town. Each carries what that branch holds, when it opened and the other branches within five miles.

Minneapolis

Saint Paul

Saint Cloud

Duluth

Hopkins

Mankato

Rochester

Wayzata

Anoka

Blaine

Chanhassen

Dilworth

Excelsior

Mendota Heights

Minnetonka

Sauk Rapids

Savage

Shakopee

Waite Park

Woodbury

Every credit union with an office in Minnesota

98 federally insured credit unions run 428 offices in Minnesota, between them serving 5,188,954 members. 38 carry the NCUA's low-income designation. Figures are from each credit union's own NCUA Call Report.

A credit union is measured differently from a bank and the numbers are not interchangeable: the net worth ratio here is the NCUA's capital measure under 12 CFR 702, where 7% is well capitalised, and shares are the credit union equivalent of deposits. Membership usually turns on where you live or work, so a local credit union is often open to you even when its name suggests otherwise.

What makes a Minnesota bank account worth opening

Look at four things in order: the APY (does it beat the FDIC national average of about 0.60%?), the monthly fee (anything above $0 should come with a clear waiver path), the minimum opening deposit, and the membership rule for credit unions. Minnesota residents typically qualify for at least one large state-chartered credit union on residency alone, and that credit union is often the highest-APY option available locally.

Is my money safe at a Minnesota bank or credit union?

Yes, if the institution is federally insured. FDIC covers banks up to $250,000 per depositor, per ownership category; NCUA covers credit unions at the same limits. Every institution in this directory carries one of those insurances — the FDIC or NCUA ID is listed on the full provider row.

Best banks in Minnesota cities

Minnesota banking FAQ — credit unions, rates & insurance

How do I join Affinity Plus Federal Credit Union from out of state?

Affinity Plus FCU is open to anyone who makes a one-time contribution to the Minnesota Foundation for Responsible Lending (usually $25) — no Minnesota residency or employer affiliation required. This is the standard path out-of-state readers use to access Affinity Plus's rewards checking and CD specials, which regularly rank among the top rates nationally.

What makes Wings Financial Credit Union different from a typical CU?

Wings Financial started as Northwest Airlines SECU and grew with the aviation industry — it now has over $9B in assets and serves members across Minnesota plus aviation-related employer groups nationwide. Wings publishes competitive CD specials and a high-yield checking account, and its mobile app is notably stronger than most community-CU offerings.

Does Minnesota tax bank-account interest at the state level?

Yes. Minnesota taxes interest income as ordinary income at the state level, with a top rate of 9.85% — one of the higher state rates in the country. This materially reduces the net yield on a high-APY savings account for Minnesota residents in the top bracket. Minnesota muni-bond interest is state-exempt, which can shift the calculus for high-earning savers.

Are Minnesota state-chartered banks covered by FDIC insurance?

Yes. Every Minnesota state-chartered bank that takes retail deposits is required to carry FDIC insurance up to $250,000 per depositor, per ownership category. Minnesota state-chartered credit unions carry NCUA insurance at the same limits. The Minnesota Department of Commerce supervises state-chartered institutions.

Related guides for Minnesota savers

Rates and fees change frequently. Confirm current figures directly with each institution before applying, and see our editorial methodology for how this directory is built and maintained.