TopLine Moves to a State-Chartered Credit Union – and becomes TopLine Financial Credit Union


TopLine has officially moved to a Minnesota State charter – and with a new name!

topline financial credit union logo 2022

TopLine has received final approval from federal and state regulators to convert from a federal to a state-chartered credit union, and along with this change the credit union will be changing “Federal” to “Financial” in its name, becoming TopLine Financial Credit Union. This move comes after the credit union’s board of directors and membership officially approved the conversion in May. Thus, effective August 1, 2022 TopLine is now TopLine Financial Credit Union.

Previously, TopLine was regulated by the National Credit Union Administration (NCUA), and moving to a state charter means the credit union will now be regulated by the State of Minnesota Department of Commerce, which also regulates other financial institutions in the state. TopLine will be joining more than 70% of Minnesota credit unions as a state-chartered credit union, and will continue to remain a federally insured credit union by NCUA.

What’s important to know is…

All deposit accounts will continue to be federally insured as they are today by the National Credit Union Administration (NCUA).

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.

Expanded Field of Membership

Founded in 1935 to serve Bell System telephone employees and expanding to a community charter in the early 2000’s, TopLine now serves more than 46,900 members through 5 locations and holds over $675 million in assets. With the charter conversion TopLine will now be able to expand its 7-county community-based field of membership and financial services and products to serve four additional counties, for a total of 11 counties that include Anoka, Carver, Chisago, Dakota, Hennepin, Isanti, Ramsey, Scott, Sherburne, Washington and Wright in Minnesota. The charter approval expands the opportunity to reach new potential members with affordable financial education and services – including savings, checking, credit cards, loans, mortgages, insurance, investments and small business financial products, all with remote access.

We’re excited about the prospect of serving even more of our Minnesota family and friends. While we review our branch, ITM and ATM expansion options, these new members will be able to take advantage of all the technology and self-service options we offer today through our website, Online/Mobile Banking, fee-free ATM Networks with over 82,000 locations, and of course our Member Care Center staff who are available by phone and email.

Message for TopLine’s President and CEO

“We are thrilled to receive final approval for TopLine’s conversion to a state-chartered credit union,” said Tom Smith, TopLine President and CEO. “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, all to better fulfill our cooperative mission of helping people. This exciting time in TopLine’s history would not have been achieved without the hard work and dedication of our board of directors, employees, members and the Minnesota Department of Commerce team. The Commerce Department has been a true partner during the application process, and we thank them for their guidance to make this possible. This expansion provides us the opportunity to ensure continued growth, make a bigger impact in a broader community and continue serving growing financial needs.”

We want to thank all our members for your continued support of our financial services cooperative. And we encourage you to share the good news with your family and friends who live or work in our new counties as we look forward to serving them too! Thank you for being a part of the TopLine family!

Business as Usual

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 deposit accounts will continue to be federally insured as they are today by the National Credit Union Administration (NCUA).

Frequently Asked Questions

See our complete list of frequently asked questions to help explain the purpose for this exciting change and how it will affect TopLine members.