Our Founding
Chartered
by the State of Minnesota as Farmers Union Employees' Credit Union, Heartland
Credit Union officially opened for business on January 3, 1939. Back in those
days it took just six or seven members to charter a credit union. W.S. Freeman,
Joyce Hanson, J.L. Kelly, Felix Mackey, Harvey Norby, Verne Robinson, and Adam
Vierling each bought one share for $5 at an organizational meeting held December
3, 1938.
At that meeting, the rate of interest on loans was set at one percent per
month or 12 percent annually. Each employee was limited to depositing $100 or
less, and could borrow no more than $25. At the close of its
first year, the credit union had 80 members with assets of $1,596.
In 1997 Heartland and Land O'Lakes credit unions merged and in 1998
Heartland and Harvest States Cooperatives Employees Credit Unions merged. In
early 2004 Heartland Credit Union's charter was expanded to serve anyone who lives,
works, worships, volunteers or attends school in Dakota County.
Today Heartland Credit Union serves over 8,800 members with assets exceeding
$82 million.
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More Links
Who Can Join?
Why Join?
Apply for Membership
Hours & Locations
Shared Branches
Financial Highlights
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What is the Difference Between Credit Unions and Banks?
While credits unions look like a bank from the outside and offer similar
services and products, they are very different on the inside.
Credit Unions are member-owned, not-for profit financial cooperatives
- which means they exist solely to help their members succeed financially.
Review the chart below to discover the difference:
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Right Site?
Heartland Credit Union has offices in Minnesota. If you are
looking for a different Heartland Credit Union online, check the following
links:
If you're not sure which credit union you're eligible to join,
check our Membership
page.
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