In 1966, a new minister to Dakotas Conference began speaking to several other ministers about a Church-related Credit Union he had belonged to in another state. On April 7, 1967, a charter was granted to the Dakota Methodists Federal Credit Union. Our name was changed on April 30, 1970 to Dakotas United Methodist Federal Credit Union.
Our Credit Union was first located in Sioux Falls, Then Sturgis, Watertown and in 1987, moved permanently to Rapid City. In 1995, a new building was built at 815 Columbus Street in Rapid City, SD. Our building is well designed with room for future expansion and plenty of parking.
In February, 2003, the Dakotas United Methodist FCU merged with the Minnesota United Methodist FCU. A branch office was kept in Minneapolis at the Minnesota Conference for ten months. It was closed in November, 2003, following careful analysis after the Conference requested the office space for their other needs. The home office in Rapid City now handles all the business of the merged Credit Union.
The history of Minnesota United Methodist FCU, which chartered in 1963, is as follows.
The Commission on Town and Country Work was responsible for getting the charter. They wrote in their 1963 report: "After finding it extremely difficult to get a conference Credit Union charter approved by the state supervising agency after the 1962 Annual Conference approved the idea, we have turned to organization under a federal charter, and at this conference and following, are inviting memberships, investments, and gradually, as funds are available, loan applications." (p. 111, Official Journal and Year Book...Minnesota Annual Conference of the Methodist Church...1963)
Actively involved United Methodists in North Dakota, South Dakota and Minnesota are eligible to join our Credit Union. In many instances, a member is not required to be a United Methodist to join. Employees of United Methodist institutions are eligible. United Methodist Churches, and Churches of other denominations that are sharing a pastor and yoked with a United Methodist Church are eligible to join, as well as their actively involved members. Included are 21 Presbyterian churches, 19 UCC Churches, 7 ELCA Lutheran Churches and 2 American Baptist Churches. Family members of all those listed above may join. Please call us to determine if you are eligible to join. Once a member, you may remain a member for life.