Magnifi Financial is recognized as one of the top 1% of credit unions nationwide by Rising Above Enterprises for its exceptional performance.
Principal Jeff Rendel of Rising Above Enterprises thoroughly analyzed the top 10% of high-performing credit unions to uncover shared characteristics. A select group of 45 credit unions nationwide emerged through this process, showcasing consistent membership growth, financial stability, prudent reinvestment strategies, operational efficiency, and a strong capital base for sustained growth.
Magnifi is a leader in the financial industry as one of Minnesota’s largest credit union and one of the nation’s predominant commercial lending credit unions. Magnifi was established in 1939 to support members impacted by financial hardships during the Great Depression and help them borrow and save money. The credit union has grown to a $2.3 billion credit union that is united to serve members and communities.
In the past five years, Magnifi Financial has experienced remarkable growth in asset size, maintaining strong earnings and equity compared to industry peers. Our financial stability has persevered through local, national, and global economic and health crises.
"We are honored to be recognized as a top-performing financial institution known for our innovative approach and industry leadership. We recognize and appreciate the value of our members, employees, and communities as partners in the success of our organization."
Chuck Friederichs
Magnifi Financial CEO
About Magnifi Financial Credit Union
Magnifi Financial is a full-service Minnesota state-chartered credit union with $2.3 billion in assets and serves over 84,000 members. Magnifi Financial is a community-based credit union with 25 branches.
