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TopLine's State Charter Approved

June 7th, 2022

State Charter Conversion Approved

I have some fantastic news to share!  TopLine’s membership overwhelmingly approved converting our credit union from a federally chartered credit union regulated by the National Credit Union Administration (NCUA), to a state-chartered credit union regulated by the State of Minnesota, Department of Commerce.

What’s important to know is that this is not a merger, nor is it a conversion to a bank, but simply a conversion from a Federal credit union charter to a State of Minnesota credit union charter.

The way we operate as a credit union today won’t change.  It will be business as usual for members. 

  • You won’t notice any changes to our products and services, branch and ATM locations, hours of operations or in any way how you currently conduct or transact your business with us. 
  • Our TopLine teams will remain the same so you can expect to see and continue to work with the same employees that you have come to know.
  • You can continue to use our Shared Branching services as you always have, allowing you to use other credit unions locally or out-of-state for your banking needs.
  • All your deposit accounts will continue to be federally insured as they are today by the National Credit Union Administration (NCUA). 
  • For more details, click here for Frequently Asked Questions

The only change you will notice will be to our name.  We are required to remove “Federal” from our name; we will be changing our credit union’s name to TopLine Financial Credit Union.

Our anticipated conversion date is August 1st.  This is when we will expand our field of membership to add 4 more counties (Chisago, Isanti, Sherburne and Wright) to our current 7-county charter (Anoka, Carver, Dakota, Hennepin, Ramsey, Scott and Washington), giving us the ability to serve 11 counties. 

This is a significant opportunity for us to broaden our reach in more communities to serve more individuals, families and small business owners, to act as a resource to advocate for financial well-being as well as support additional social responsibility efforts to positively impact the communities we serve.

This is a really exciting time for our credit union as it provides us the opportunity to ensure continued growth and make a bigger impact in a broader community. 

Thank you for your support of this important initiative for our credit union’s future success!

Tom Smith, TopLine President and CEO