Central Minnesota Credit Union is a member owned, not-for-profit financial cooperative. The credit union was chartered in Melrose in 1939 as the Melrose Catholic Parish Credit Union. Working under the philosophy of 'people helping people' the credit union served St. Patrick and St. Boniface parishes. It was operated out of Louis Kunkel's residence at 307 West Riverside until 1961 when it was moved to the Melrose City Hall. As the credit union continued to grow, more space was needed. In 1973 the move was made to the current location of the Administration Center at 20 South Fourth Avenue East.


Around this same time the name was changed to the Melrose Credit Union. From its roots in Melrose the credit union grew and expanded to serve surrounding communities. During the 80s and 90s branches were opened in Albany, Grey Eagle, Freeport and Paynesville. With a strong commitment to serving members and community the credit union has continued to grow. In 2003 a branch was opened in Sauk Centre followed by branches in St. Joseph, Cold Spring and Long Prairie. January 2010 the Credit Union added their 10th branch in Avon.