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Better Together

Heartland Credit Union and Novation Credit Union announce plans to combine strengths to serve you better.

    We’re excited to announce that Heartland Credit Union (Heartland) and Novation Credit Union (Novation) plan to join forces to create an even better and stronger financial institution for our members, employees, and the communities we serve, pending member and regulatory approval.

    We will combine our strengths to bring you improved technology, expanded services, more convenience, and improved efficiency – all while staying true to the values that you know and trust.

    This unification is driven by opportunity, not necessity (we’re a good match!). Both credit unions are strong, with roots serving the employees and families of some of the most iconic businesses in Minnesota: CHS Inc., Land O’Lakes, Inc., 3M and the newly formed Solventum. In addition, this combined credit union will serve members in 11 Minnesota counties.

    This partnership isn’t about changing what you already value. It’s about building on that strong foundation and unlocking even greater benefits for every member – a belief that we’re truly better together.

    View Full Press Release

A Joint Message from our CEOs

We’d like to take a moment, to share what this partnership would mean and how it would benefit you.

This decision was made with great care, guided by two financially strong, mission-driven credit unions with a shared commitment to member service, community impact, and the people who make that work possible – our employees.

Member Benefits

Frequently Asked Questions

  • The merger is an opportunity to create a newly unified credit union that is strong and set up for future growth to benefit you (our members) and our communities. We will combine our strengths to bring you improved technology, expanded services, more convenience, and improved efficiency – all while staying true to the values that you know and trust.

    This unification is driven by opportunity, not necessity (we’re a good match!). Both credit unions are strong, with roots serving the employees and families of some of the most iconic businesses in Minnesota: CHS Inc., Land O’Lakes, Inc. 3M, and Solventum. In addition, this combined credit union will serve members in 11 Minnesota counties (adding McLeod county to our current field of membership).

  • Mike Kronebusch, current CEO of Novation will serve as CEO. Mike brings experience from various finance and business leadership roles, strategic vision and proven commitment to member-first service. Heartland CEO Kathleen Harrington will become Chief Operating Officer, overseeing daily operations and ensuring consistent high-quality member service across all channels. The executive leadership team will be made up of a blend of existing leaders from both Novation and Heartland. Similarly, the Board of Directors for the unified credit union will be composed of directors from both Heartland and Novation once unification is complete.

  • You’ll eventually gain access to additional branch locations, expanded products, improved efficiency, and greater resources. The credit union, and therefore you, our member owners, will benefit from increased size and strength at a time when scale is critical to managing expenses, advancing technology, and achieving sustainable growth.

  • Completely. The leadership team vetted this opportunity extensively in collaboration with the Board of Directors. The Board unanimously approved the merger believing it offers the best opportunity to serve members and grow in the communities we serve and our Select Employer Groups (CHS, Land O’Lakes, etc.).

  • The name will be phased out, but all existing branches will remain open under the Novation Credit Union (Novation Financial) name, and you’ll still see the same friendly faces in those locations. Digital assets such as the Heartland website will also be transitioned over to novation.org over time.

  • The financial industry is more competitive than ever and standing out is key. While we’ve built a strong brand of exceptional personal and local service, there are multiple Heartland Credit Unions, as well as Heartland Banks in the market – making it hard to differentiate based on name and avoid being mistaken for another financial. Today, most people begin their search for financial services online and a unique name ensures that potential members, as well as current members find us when they need us.

    The Novation name comes from the word ‘Innovation’ and was chosen to reflect the innovative spirit of the 3M employees they serve. While our name will be changing, what will not change is our commitment to our members. You’ll still see the same friendly faces, receive the same personalized service, and benefit from the same values that have guided us for years. We’re excited to adopt the Novation name and meaning which reinforces our dedication to growth, adaptability, and innovative financial solutions.

  • Heartland will adopt the Novation charter therefore Heartland members will be asked to vote on the unification. In addition, approval by state and federal regulators is required.

  • We anticipate the process could take up to nine months before the unified credit union is operating as Novation Credit Union.

  • Officially named Novation Credit Union, they have been around for over 70 years and began as a credit union for 3M employees. Today they proudly serve employees and families of 3M and Solventum (a recent healthcare spinoff of 3M), McLeod County (branch in Hutchinson, MN), and Washington County (branch in Oakdale, MN).

    The shorthand name Novation Financial covers all components of the organization:

    • Novation Credit Union
    • Novation Wealth Management
    • The Novation Foundation

  • Novation Wealth Management (NWM) is a dedicated in-house team that specializes in comprehensive retirement and financial planning. The team recently surpassed $400 million in assets under management. Their services are available to all Novation members though credit union membership is not required to be a NWM client.

    The Novation Foundation was launched as a non-profit in 2023 to further support being members’ financial partner for life, supporting organizations focused on financial literacy and community wellness. In 2024, Novation Financial staff provided over 200 hours of volunteer time on top of financial donations made.

  • Yes. Your deposits will remain federally insured up to the standard limits and will be safe and secure every step of the way. Once the unification is complete, Novation Financials’ wealth management team will work one-on-one with Heartland members who use the Excess Share Insurance, which will eventually be phased out.

  • No branch locations will be closed.

  • Branch hours will remain the same during the unification process.

  • Yes. Your membership will remain in place with the newly combined credit union. Stay tuned for more details over time on any changes to accounts, logins, and other important information.

  • No. At this time, your accounts and the systems you use will remain the same. We will notify you well in advance of any changes or steps you need to take. We’re here to help every step of the way.

  • For now, continue to use your usual Heartland support channels and contact information. All branches remain open. Any future changes to contact information will be communicated in advance.

  • Novation has branches in Oakdale, MN and Hutchinson, MN. It will take time to integrate systems, procedures, and accounts, for now please continue to visit your usual Heartland branches.

  • Continue to log into your Heartland online banking platform for the time being.

  • Yes, mobile apps for both Heartland and Novation continue to work. Future instructions will be provided as needed for downloading and using a new mobile app.

  • Yes, all accounts remain active and your Heartland-branded cards will continue to work. Replacement cards will be communicated and provided as necessary in the future.

  • Tax documents related to interest earned or paid throughout 2025 will be provided in early 2026 by your current credit union (either Heartland or Novation).

Get to Know Novation

  • Founded by eight 3M employees, as Minne-Mine Credit Union, in 1954
  • Tradition of supporting “3Mers” and their families extended to recent Solventum spinoff
  • Branches in Oakdale (Washington County) and Hutchinson (McLeod County)
  • Novation Foundation founded in 2023 to support financial literacy and wellness
  • Organized the Credit Unions Fighting Fraud educational event in Woodbury (summer 2025)
  • Novation Wealth Management with over $400 million in assets under management

Questions? We’re Here to Help

We understand that change can raise questions. If there’s something you’d like explained or clarified, please ask.

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