Red Lake Co Op Credit Union Red Lake Falls MN | Affordable Vehicle Loans & Quick Personal Loans

Introduction

At Red Lake Co Op, we believe in building a brighter financial future for our community. Nestled in the heart of Red Lake Falls, MN at 111 2Nd St Sw, our branch has been serving members since 1949. With a commitment to providing personalized banking solutions, we are proud to support 1,433 members and counting. Our credit union stands strong with total assets amounting to $6,587,260 and robust total deposits reaching $209,902. With over $27,600 in loans available to our members and a net worth of $856,499, we are dedicated to ensuring that our members receive the best financial services possible. Under the leadership of our CEO, Sara Kenfield, and Board President, Joel Lehrer, we prioritize transparency and community impact. Our small but mighty team of 3 employees is here to assist you with everything from checking and savings accounts to auto loans and personal financing options. While you can visit us at our main location in Red Lake Falls, please direct any official correspondence to our mailing address: PO Box 154, Red Lake Falls, MN 56750. If you have any questions or need assistance, don't hesitate to reach out by calling us at (218) 253-2775. Join us today as we work together towards your financial goals! Visit our website at redlakecfcu.com for more information on how we can serve you better.

Branch History & Mission

Community Connection

As part of our commitment to the community, Red Lake Co Op actively participates in outreach programs designed to give back and strengthen local ties. We work closely with schools and organizations within Red Lake Falls to foster an environment where everyone can thrive financially. While members can visit us at 111 2Nd St SW, official correspondence should be sent to PO Box 154, Red Lake Falls, MN 56750 if needed. If you're looking for a credit union that values both your financial health and the well-being of the community around you, consider joining us today! Discover how becoming a member of Red Lake Co Op can open doors for you and your family by visiting us or calling 218-253-2775 for more information. Together, let's build a stronger future!

Our Journey

Our journey began more than seven decades ago when a group of local residents came together with a vision: to create a financial institution that prioritizes the needs of its members over profits. Since then, Red Lake Co Op has been dedicated to fostering financial wellness through personalized banking solutions. Our branch is located at 111 2Nd St SW, Red Lake Falls, MN 56750, conveniently positioned near local landmarks that make us easily accessible to all. Over the years, we have reached significant milestones that highlight our commitment to growth and service. From expanding our offerings to include auto loans, mortgages, and personal banking services, we have consistently adapted to meet the changing needs of our members while maintaining a strong foundation built on trust and community support.

Our Mission

At Red Lake Co Op, our mission is clear: We strive to empower our members by providing accessible financial solutions while contributing positively to the community. We believe in making banking straightforward and beneficial for everyone. Whether it's helping families secure their first home or providing small businesses with necessary funding, we are dedicated to supporting both individual aspirations and collective goals. We focus on delivering exceptional service through various channels, including online and mobile banking options. While we currently do not offer ATM services or drive-thru banking, we ensure that our lobby hours accommodate your schedule: Monday through Wednesday and Friday from 9 AM to 5 PM, Thursday until 6 PM, and Saturday until noon.

Branch Location & Accessibility

Connect With Us

If you have questions or need assistance, don't hesitate to call us at 218-253-2775. We're always happy to help! Come visit us today at Red Lake Co Op; we look forward to serving you!

Nearby Landmarks

You'll find us nestled near local favorites, making it easy to combine a trip to the bank with a visit to nearby shops or restaurants. Our location is designed with accessibility in mind, featuring ADA-compliant entrances and ample parking space so you can come in without any hassle.

Operating Hours and Services

We know that your time is valuable, which is why we offer flexible operating hours. You can visit us Monday through Wednesday from 9 AM to 5 PM, Thursdays until 6 PM, and Fridays until 5 PM. On Saturdays, we're here from 9 AM to noon perfect for those busy weekdays! At Red Lake Co Op, we provide a variety of personal banking services tailored to meet your needs. From checking and savings accounts to auto loans and mortgage refinancing, our friendly staff is ready to assist you. We also offer online and mobile banking options for added convenience.

Member Eligibility

Joining the Red Lake Co Op is not just about opening an account; it's about becoming part of a caring community that looks out for each other. If you're looking to become a member, you'll be pleased to know that eligibility is designed to be inclusive. Generally, anyone who lives, works, or worships in the Red Lake Falls area can join us! This means you'll have access to our fantastic range of services and support tailored just for you. Plus, being a member means you benefit from lower fees and better rates compared to traditional banks. Getting started is easy! Simply visit us at 111 2Nd St Sw, Red Lake Falls, MN 56750, or give us a call at 218-253-2775 for more information. You can also check out our detailed eligibility criteria at this link. If you're ready to open your account now, head over to this page and start your journey with us today! We can't wait to welcome you into our family.

Business Banking & Commercial Services

Business Loan Options

Our commitment to supporting businesses is evident, with investments in business growth through our commercial lending programs: - We've funded over $0 in commercial loans for our members, helping businesses scale and succeed. - We also support the broader business community with $0 in non-member commercial loans, providing flexible financing solutions. - With an outstanding commercial loan portfolio of $0, we continue to drive economic growth by financing new and expanding businesses.

Merchant Services

But it doesn't stop at loans. Our merchant services help you manage your transactions smoothly and efficiently. Imagine accepting payments easily from your customers, whether they're shopping in-store or online. By streamlining payment processes, you can focus on what truly matters growing your business! Located conveniently at 111 2Nd St Sw Red Lake Falls Mn 56750 in Red Lake Falls, MN, our team is here to guide you every step of the way. Whether you're looking for a loan or need assistance with payment solutions, reach out to us at (218) 253-2775. Let's work together to turn your business aspirations into reality!

Comprehensive List Of Services

Auto Loans & Vehicle Financing

Thinking about getting a new car? Our auto loans and vehicle financing options make it easier than ever to get behind the wheel of your dream vehicle. With competitive rates and flexible terms, you can drive off knowing you made a smart financial choice.

Business Banking

For our business members, we offer specialized services including merchant services and business loans. Your business is important to us, and we strive to provide solutions that help you thrive in today's competitive market.

Convenient Access

Though we do not have ATMs or drive-thru services at this location, our online banking platform ensures that accessing your accounts is always convenient. Members can utilize cash withdrawal services through various partner locations as well. At Red Lake Co Op, located at 111 2Nd St Sw Red Lake Falls Mn 56750, we are dedicated to meeting all your financial needs under one roof. If you're interested in any of these services or want more information about how we can assist you further, don't hesitate to reach out! You can give us a call at (218) 253-2775 or visit us during our operating hours: 9 AM - 3 PM on Monday, Tuesday, Wednesday; 9 AM - 6 PM on Thursday; 9 AM - 5 PM on Friday; and 9 AM - noon on Saturday. Join us today at Records and experience banking that's personalized for you!

Credit Cards with Rewards

Our credit cards with rewards allow you to earn benefits while making everyday purchases. Whether it's cashback or travel points, every swipe brings you closer to rewards that matter most to you.

Mortgage Loans & Refinancing

For those ready to buy a home or refinance an existing mortgage, our mortgage loans provide the support and guidance you need. We understand that purchasing a home is one of the biggest decisions you'll make, so we're here to help you navigate through the process with ease.

Personal Banking

Whether you're looking to open a checking or savings account, our personal banking options are designed with your everyday needs in mind. Imagine having the ability to manage your finances right from your smartphone with our online and mobile banking features. You can check balances, transfer funds, and pay bills anytime, anywhere.

Personal Loans & Debt Consolidation

If you're facing unexpected expenses or looking to consolidate debt, consider our personal loans. They offer a simple solution for borrowing funds without complicating your financial life. We work with you to find the best option that fits your budget.

Digital & Online Banking

Key Services

Our online banking platform is available 24/7 at http://redlakecfcu.com, allowing you to check balances, transfer funds, and pay bills from the comfort of your home or on the go. We know how important it is for you to have real-time access to your financial information, so our services are user-friendly and straightforward. For those who prefer going paperless, we provide e-statements. You can easily view your account statements online without waiting for them to arrive in the mail. Plus, if you need to send money quickly, our person-to-person transfer feature makes it simple to send funds directly to family or friends.

Mobile Access

Stay connected with our mobile application, which offers many of the same great features as our online banking platform. Although we currently do not support mobile payments, you can still manage your accounts effortlessly through our app. Security is always a top priority at Red Lake Co Op. While we don't yet offer electronic signature authorization, our systems are designed with robust security measures to protect your personal and financial information. With Red Lake Co Op's digital banking services, you're equipped with all the tools necessary for effective financial management right at your fingertips. Visit us at http://redlakecfcu.com today to learn more about how we can support your banking needs!

Financial Strength

Growing Member Base

The strength of Red Lake Co Op is further highlighted by our growing community of trust. With a total of 1,975 accounts managed carefully, we demonstrate that more members are choosing us as their trusted partner for their financial needs. Our financial strength means we can continue serving you with confidence. Whether you're saving, borrowing, or planning for the future, Red Lake Co Op is your trusted partner. Visit us at 111 2Nd St Sw Red Lake Falls Mn 56750 or call (218) 253-2775 to learn more about how we can help you achieve your financial goals.

Member-Centric Savings Solutions

Members' savings are secured through $0 in share certificates and $0 in money market shares, offering stable and rewarding financial growth opportunities. Unlike traditional banks, we prioritize our members. With non-member deposits at $0, we ensure that our resources are focused on benefiting you through better loan rates, lower fees, and exclusive perks.

Operational Efficiency

Our $2,658 reflects our operational efficiency, enabling us to continue offering competitive loan rates and solid financial products for our members. We also take pride in having 2 full-time employees and 1 part-time employees, ensuring our branches are always ready to serve you with a knowledgeable, committed team.

Our Financial Health

With a net worth of $856,499, we maintain strong financial health, allowing us to offer better rates, lower fees, and enhanced member services. This solid foundation ensures that we can continue providing loans, competitive savings rates, and uninterrupted services even in uncertain economic times. Our net worth ratio of 13.00% demonstrates our commitment to maintaining a robust capital structure.

Reinvestment for Growth

Our $690,640 in undivided earnings allows us to reinvest in innovative banking tools, stronger lending options, and enhanced security measures to serve our members better. With $83 in used auto loans and $3,985,278 in total loans and leases, our lending capacity supports members' financial goals across various sectors.

Loan Offering

Auto Loans

Looking to buy a new car? Our auto loans provide some of the lowest rates in the industry. We have already issued $1,519,399 in new vehicle loans and $1,071,318 in used vehicle loans, assisting many members in getting on the road. Whether you're interested in financing a brand-new model or a reliable used vehicle, we've got options tailored for you.

Credit Lines and Personal Loans

We also offer flexible credit lines with a total amount available of $300,000. This can be particularly useful for managing unexpected expenses or consolidating debt. Additionally, if you're looking to manage your finances more effectively, we provide unsecured credit card loans with a total of $0 currently available. This means we're ready to assist you with personalized solutions as soon as they become available.

Mortgage Loans

Thinking about homeownership? Our mortgage options make buying or refinancing simple. With Junior Lien 1-4 Family Residential Properties loans totaling $26,145, we are here to guide you through each step of the process.

Refinancing Options

If you're considering refinancing any existing loans or want to explore eligibility options for any of our loan products, our team is here to help you understand your choices and find the best fit for your financial situation. For any questions about our loan offerings or assistance with the application process, feel free to reach out to us at (218) 253-2775. Remember that performance insights and financial data are sourced from the National Credit Union Administration (NCUA) at: https://www.ncua.gov, based on the latest results. At Red Lake Co Op, we are committed to helping you achieve your dreams through accessible and affordable financing solutions tailored just for you!

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RED LAKE CO OP FEDERAL CREDIT UNION - Red Lake Falls, MN

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