Central Minnesota Credit Union rebranding as Magnifi Financial

Central Minnesota Credit Union in Melrose is ready for a new look.

The $1.6 billion-asset credit union is rebranding as Magnifi Financial Credit Union on March 1, according to a post on the organization’s website.

The company said that it has outgrown its current name.

“Our membership has expanded beyond central Minnesota and extends from North Dakota to the Twin Cities and into Wisconsin," it said. "We need a name that fits the many communities we serve and doesn’t limit us to the central Minnesota area.”

Central Minnesota Credit Union's profit rose 43% to $17.2 million in 2021, according to call report data from the National Credit Union Administration.