Our mission at Trades & Labor Federal Credit Union is to provide financial products, services, and education enabling members to achieve personal and financial goals to benefit their quality of life.

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Personal Accounts

  • Deposit of $30 required to open the account.
  • Must be 18 to have a checking account on your own or at age 16 with an adult.
  • No monthly maintenance or transaction charges
  • No minimum balance
  • Funds automatically transferred from savings -$2 fee per process
  • Earn dividends on balances over $500
  • Overdraft protection line of credit available -see loan tab for details.

All accounts are federally insured to $250,000 by NCUA, National Credit Union Administration, a US Government Agency.

  • Debit card is tied to checking at a cost of $5.00 per card issued.
  • Cards have a daily limit for purchases and/or cash transactions
  • Can be used anywhere VISA is accepted
  • Get cash as an ATM. TLFCU does not charge fees, but you may be assessed a surcharge from some ATMs.
  • Must be 18 to be issued a debit card (can be issued at 16 with an adult).
  • Should you lose or misplace your debit card or checkbook, call us immediately at 507-377-1863 to report what's missing. Our staff will be happy to help you.
  • If after hours call Shazam lost or stolen card support at 1-800-383-8000.
Share Savings
  • All members must have a savings account and maintain a minimum balance of $20.
  • Competitive dividends are paid quarterly on balances of $300 or more.
  • Deposits can be made conveniently in person, through payroll deduction, by mail, through ACH and direct deposit.
  • Having a share account represents your share of ownership in the credit union.

Preferred/Special Shares

  • If your saving with a specific goal in mind, we can open a Preferred/Special sub-savings account to enable you to easily monitor your progress.
  • Maintain a balance higher than $2,500 and earn higher dividends without locking into a term.
  • Maintain a balance higher than $20,000 and earn even more dividends.
  • Interest rate reverts to rate of regular shares if balance falls between $300 and $2,500
Trust Accounts
  • Established for members of younger years.
  • Funds are not available for withdrawal until minor reaches the age of 18.
  • Dividends are paid quarterly on balances of $50 or more.
  • Account is a sub-savings to a regular share of the credit union.

All accounts are federally insured to $250,000 by NCUA, National Credit Union Administration, a US Government Agency.

  • The best gift you can give to yourself!
  • Make the holidays much more enjoyable when you are financially prepared.
  • Deposits can be made through payroll deduction or by other deposits throughout the year.
  • Funds are available on October 1st so you can get a jump on holiday shopping.
  • Early withdrawals are subject to a penalty fee.

All accounts are federally insured to $250,000 by NCUA, National Credit Union Administration, a US Government Agency.

  • Add to your retirement plan by putting funds into an IRA through payroll deposit each week.
  • Both Traditional and Roth IRAs are available.
  • Tax benefits -consult with your tax advisor to determine which IRA works best for you.
  • Term certificates are available at 12, 24, 36 and 60 months. See current rates or call the credit union.

All accounts are federally insured to $250,000 by NCUA, National Credit Union Administration, a US Government Agency.

  • Fixed rate of interest for the entire term of the investment.
  • Insured by NCUA for up to $250,000 per depositor.
  • Typically pays a higher rate of interest than a savings or preferred account.
  • Terms range from 6 months to 24 months.
  • Dividends are compounded daily and paid at maturity.

All accounts are federally insured to $250,000 by NCUA, National Credit Union Administration, a US Government Agency.

Share Rates

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