Diversified Credit Union

BankingMinnesota, United States11-50 Employees

Minneapolis Gas Light Credit Union, now known as Diversified Credit Union, was organized in 1930 to serve the employees and the families of Minneapolis Gas Light, later Minnegasco and now CenterPoint Energy.
In 1988 our field of membership was expanded to include E.F. Johnson Company, now E.F. Johnson Technologies, in Waseca, Minnesota. As a result of E.F. Johnson Technologies acquisitions and newly created businesses, our membership included, Cinch Connectivity and Cal Amp. Further expansions brought in Itron in Waseca. In 2002, Dunwoody College of Technology teachers, employees, and their families became eligible to join Diversified Credit Union.

Several groups have been added since 2004 including anyone who lives, works, worships, volunteers, attends school and businesses and other legal entities, located in Anoka, Hennepin and Waseca Counties in Minnesota. Additional employer groups include Independent School District #829 (Waseca Public Schools).

At first, the credit union was formed as a place for members to save money. Our first member loan was for $25, which was used to finance a summer vacation. By the 1940s, our services had expanded dramatically. Payroll deductions from Minnegasco allowed members to make regular deposits to the credit union conveniently.

The credit union grew to reach $1 million in deposits by 1963 and then doubled its size during the next five years. By 1979, savings had reached $5 million. Today your credit union exceeds $36.5M in assets with over 3,000 members.

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