Novation Credit Union

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A short history of Novation CU

Since its inception in 1954 the Novation Credit Union has been serving its members in the Oakdale, Minnesota area with exceptional financial products. You can find their current interest rates on used car loans, new car loans, 1st mortgage loans and interest rates on both fixed and adjustable mortgages here on these pages. Currently led by KRISTI MUKOMELA, the Novation CU has grown its membership to over 14,051 with assets of more than $136,007,663. They have a main office and 4 branch offices. Please see the credit unions website or contact them by phone at (651) 739-8080 or email them at to get exact details . There are many other credit unions in the local area. See them all here. Credit Unions in Oakdale, MN.

General Information For Novation CU was taken from their 6/30/2017 quarterly report, which is the most current available public information.

Charter Number 65063
Address 500 Imperial Ave N 
City Oakdale 
State Minnesota 
Zip-Code 55128
Phone Number (651) 739-8080
Fax Number (651) 739-0648
Email Address:
Members 14,051 
Full-Time Employees 29 
Part-Time Employees
Number of Branch Offices
Total Assets 136,007,663 

Compare Novation Credit Union To Other Local Credit Unions

Credit Union Name
Branch Name
Zip Code
Phone Number
ATM Access
Distance (Miles)
Ideal CU Eagan 3225 Denmark Ave 55121 (651) 770-7000 No 3.97
Metropolitan Services CU Main Office 475 Etna St Ste 10 55106 (651) 602-8105 No 4.76
St. Paul CU Conway 1330 Conway St Ste 200 55106 (651) 772-8744 No 4.85
Cities CU Main Branch 3625 Talmage Cir 55110 (651) 426-3773 No 6.23
Minnesota Catholic CU Epiphany Branch 1904 111th Ave NW 55117 (763) 354-2826 No 6.38

Novation Credit Union Financial Performance Charts

Performance Charts

Website Image

Financial Data

Novation Credit Union Lowest Loan Rates With State and USA Rankings

Unsecured Credit Card New Car Loans Used Car Loans 1st Mortgage Loans Other Real Estate
Rate 8.90 1.95 1.95 4.00 5.25
Mean Rate For All USA Based Credit Unions 10.56 3.72 5.00 4.48 4.95
Rank Among All USA Credit Unions 151 31 18 138 260
Rank Among All Minnesota Credit Unions 10 3 1 20 34

Novation Credit Union Highest Deposit Rates With State and USA Rankings

Checking Regular Savings Money Market Certificates of Deposits IRA/KEOGH
Rate 1.00 0.05 0.25 0.10 0.05
Mean Rate For All USA Based Credit Unions 0.19 0.26 0.29 0.73 0.66
Rank Among All USA Credit Unions 36 143 105 332 291
Rank Among All Minnesota Credit Unions 2 22 18 42 38
Novation Credit Union Loans and Leases

Interest Rate Number of Loans Amount
Unsecured Credit Card Loans 8.9001,8705,544,149
All Other Unsecured Loans/Lines of Credit 8.9007923,761,214
Short-Term, Small Amount Loans (STS) (Federal CU Only) 0.00000
Non-Federally Guaranteed Student Loans 5.5002456,214,097
New Vehicle Loans 1.95087317,610,537
Used Vehicle Loans 1.9502,25127,592,395
Total 1st Mortgage Real Estate Loans/Lines of Credit 4.00028438,874,268
Total Other Real Estate Loans/Lines of Credit 5.25044011,041,159
Leases Receivable 0.00000
Total All Other Loans/Lines of Credit 4.9904185,576,076
TOTAL LOANS & LEASES 7,173116,213,895

Novation Credit Union Real Estate Loans and Lines of Credit


No. of Loans Outstanding Amt of Loans Outstanding No. of Loans Granted Year- to-Date Amount Granted Year-To-Date
Fixed Rate
    a. > 15 years 6411,017,36071,210,300
    b. 15 Years or less 19923,681,69691,431,000
    a. > 15 years 214,175,2121160,000
    b. 15 Years or less 0000
Other Fixed Rate 0000
Adjustable Rate 1 yr or less 0000
Adjustable Rate > 1 yr 0000


Closed-End Fixed Rate 2075,324,99218729,359
Closed-End Adjustable Rate 0000
Open-End Adjustable Rate 2335,716,167721,574,149
Open-End Fixed Rate 0000
TOTALS 72449,915,4271075,104,808


Interest Only & Payment Option 1st Mortgage Loans 000
Interest Only & Payment Option Other RE/LOC Loans 8140,8257,000
    a. Federally Insured Home Equity Conversion Mortgage (HECM) 0000
    b. Proprietary Reverse Mortgage Products 0000

Novation Credit Union Member Offerings
First Time Homebuyer Program Yes
Real Estate Loans Yes
Pay Day Lending No
Share Secured Credit Cards Yes
Overdraft Protection/Courtesy Pay No
Overdraft Lines of Credit Yes
ATM/Debit Card Program Yes
Interest Only and Payment Option 1st Mortgage Loans No
Check Cashing Yes
Money Orders No
No Surcharge ATMs Yes
Home Banking Via Internet Website Yes