First Alliance Credit Union

Credit Union in Rochester, Minnesota

First Alliance Credit Union is a credit union based in Rochester, Minnesota, that presents itself as an alternative to traditional banking and offers financial guidance in the Rochester area. The institution serves over 21,000 members across 14 counties in southeastern Minnesota: Blue Earth, Dodge, Fillmore, Freeborn, Goodhue, Le Sueur, Mower, Nicollet, Olmsted, Rice, Steele, Wabasha, Waseca, and Winona.

Membership is open to anyone who lives, works, conducts regular business, worships, attends school, or owns businesses and other legal entities in these 14 counties. Family members of existing members may also join, as well as those who donate a minimum of $10 to the First Alliance Credit Union Foundation. Opening an account requires a $5 deposit.

Loan and Financing Products

The loan lineup includes personal loans, vehicle loans, manufactured home loans, home equity loans, mortgages, credit cards, and business loans. The institution also offers small business loans and facilitates financing applications through its website.

Accounts and Money Management

The accounts section includes savings accounts, checking accounts, money market accounts, certificates of deposit, and business accounts. Members can manage their transactions through online and mobile banking, pay their loans, send money with Zelle, and request support through advisor-supported kiosks. The institution offers a free mobile app and youth debit cards.

Tools and Resources for Members

The credit union has incorporated Benefits Finder, a free tool to discover available benefits, and offers a Switch Kit to set up direct deposit. Its resource center gathers materials on how to switch banks, how to save money, how to create a budget, how to pay off debt, about credit scores, and a moving guide. It also publishes a blog and a podcast with financial tips and advice.

History and Community

The institution traces its origins to 1932, during the Great Depression, when a Rochester teacher and seven city firefighters established their own credit union under the name Municipal Employees Credit Union (MECU). The first location was in the original fire station in downtown Rochester and was managed by firefighters and other volunteers; at that time, only municipal employees of Rochester could join. In 1996, the credit union expanded its membership to other groups and adopted its current name to reflect the alliance formed with the new groups. In 2016, it renewed its logo and its tagline, "all for one".

The credit union has its own foundation and publishes annual financial and community impact reports, with editions for 2023, 2024, and 2025.

Location and Contact

501 16th St. SE Rochester, MN 55904 · Phone: (507) 288-0330