Why choose us?

A Credit Union: People Helping People

Novation Financial is a member-owned, not-for-profit credit union which means our success funnels back to our members through attractive rates, lower fees, and exceptional member service.

We offer a full suite of financial solutions, including checking, savings, loans, mortgages, and financial planning. Members have access to an extensive network of fee-free ATMs, online and mobile banking, and personalized service via video banking.

Verify eligibility and join

Member-owned, not-for-profit financial cooperative

Full suite of financial solutions with great rates and minimal fees

Bank from anywhere with online account access and mobile apps

Financial planning via Novation Wealth Management

Growing for the Future

Unification and Expansion

On July 1, 2026, Heartland Credit Union (MN) officially merged into Novation. This sets us up for sustainable growth and significantly expands our presence in the greater  Twin Cities area, both geographically and with additional Select Employer Groups (SEGs).
Minnesota’s Premier SEG-Focused Credit Union

A Legacy of SEG Support

Novation was founded by eight 3M employees in 1954 as Minne-Mine Credit Union, primarily serving 3Mers on Friday afternoons: payday!

In the over 70 years since, we have established deep ties with 3Mers and their families across the country. We also expanded our charter to serve employees of Solventum when the new healthcare company spun from 3M in 2024. We currently have a network of over 20 3M and Solventum locations we visit regularly to engage with Novation members.

We look forward to the opportunity to introduce our engagement model to employees of CHS and Land O’Lakes!

Financial Solutions for You

Community Focused

Our merger with Heartland also greatly expands our ability to serve residents in the Twin Cities and beyond. With long-established branches in Oakdale (Washington County) and Hutchinson (McLeod County), we are used to meeting the banking needs of surrounding communities. Now our membership charter covers 11 area counties and we have additional branches in Inver Grove Heights, Hugo, and New Prague.

The Novation Foundation proudly supports efforts to increase financial wellness and literacy in our communities through financial donations and hundreds of hours of staff volunteer time annually.

2025 Annual Report
View our Annual Report to learn more about a very successful year for Novation Financial and get a preview of what is to come throughout 2026. 
Our Team

Executive Leadership

MIke Kronebusch President

Mike Kronebusch

President and CEO

Todd Brandel

Kathy Harrington

EVP, Chief Operating Officer

Terry Kahle

SVP, Chief Financial Officer

Tyler Sachse

SVP, Chief Marketing & Business Development Officer
Todd Brandel

Brittany Kloetzke

SVP, Chief Lending Officer

Nick Altavilla

SVP, Member Experience & Payments

Nate Dormody

SVP, IT, Compliance, Integration, & Analytics 

Board of Directors

Beth Edinger (Chair)

Bob Kody

Jeffrey Schuetz

Rex Carlson (Vice Chair)

Dale Lieb

Joe Paul

Eric Spandl (Secretary)

Daryl Thoennes

Noel Larson

Ann Young

Erdem Olgun

Supervisory Committee

Greg Sippl (Chair)

Mark Huberty

Spencer Olson

Shaun VanDeurzen