Novation has had a long history of serving the employees, their families and retirees of 3M. Originally chartered as Minne-Mine Credit Union, we were founded by eight 3M employees on June 24, 1954. By September of that year our first branch location opened in St. Paul at 925 East 7th Street primarily to serve members on Friday afternoons – 3M’s payday. As membership began to grow there was a need to increase office hours so a decision was made in 1958 to relocate this branch a few blocks away to 848 East 7th Street. This branch remained in operation for Minne-Mine until 1989 when the office relocated to a much larger facility at 1815 Suburban Avenue in Saint Paul.
Since the first branch office on East 7th Street, we have also served 3M employees in smaller branch locations: Newport, Hastings, Circle Pines, Oakdale, Woodbury, St. Paul, the Imation headquarters and 3M Center. Two other branch locations – New Ulm and Hutchinson – have an important place in our history.
In 1972, Minne-Mine opened branches in New Ulm and Hutchinson to serve the 3M employees in their respective plants. In January 1988, these two branches merged in order to provide superior service to the rapidly growing membership in Hutchinson. As changes came to the credit union industry, the State of Minnesota, in 2003, approved our request to provide credit union benefits to all residents of McLeod County. These significant changes have allowed the Hutchinson branch to grow, prosper, and solidify our relationship in the community to the point where it now accounts for over 25% of our overall assets.
On November 4, 1998, Minne-Mine Credit Union officially changed our corporate name to Novation. Today, Novation is headquartered at 500 Imperial Avenue in Oakdale, and operates major branch locations in 3M Center and in Hutchinson, MN.