Ely Area
Ely Area is a credit union based in Ely, Minnesota, established in 1938, with $75 million in total assets serving 4,523 members. By Trust Grade it ranks 19th of 81 credit unions we track in Minnesota. Its net worth ratio of 16.1% is stronger than 61% of similarly sized credit unions, versus a Minnesota median of 12.2%. It was profitable over the most recent period, with a 2.48% return on assets. No consumer complaints against Ely Area appear in the CFPB database over our analysis window — common for an institution of this size and a point in its favor.
How Ely Area compares to Minnesota peers
How we graded Ely Area
The Trust Grade blends financial strength with complaint history. Full methodology →
- Strongly capitalized (16.1% capital ratio)
- Strongly profitable (ROA 2.48%)
- No CFPB complaints on record
Consumer complaints (CFPB)
No CFPB complaints are on file for Ely Area over the analysis window. For a smaller institution this is common and counts in its favor.
Are deposits at Ely Area insured?
Yes. Ely Area is an NCUA-insured credit union. Deposits are federally insured up to $250,000per depositor, per ownership category — regardless of this institution's Trust Grade. The grade reflects financial strength and complaint history for comparison, not the safety of insured deposits.
Ely Area: frequently asked questions
Is Ely Area a good credit union?
Ely Area earns a Bankzia Trust Grade of A (98/100, "Excellent"), based on a financial-strength score of 98/100 (it has no CFPB complaints on record). Strongly capitalized (16.1% capital ratio); Strongly profitable (ROA 2.48%).
Is Ely Area NCUA-insured?
Yes. Ely Area is a NCUA-insured credit union. Deposits are protected up to the standard NCUA limit of $250,000 per depositor, per ownership category.
How big is Ely Area?
Ely Area holds $75 million in total assets, ranking 19th of 81 credit unions we track in Minnesota. It serves 4,523 members.
Does Ely Area have CFPB complaints?
No CFPB complaints against Ely Area appear in our data over the analysis window, which is typical for a credit union of this size.
Similar Credit Unions
Financial data from NCUA call reports; complaint data from the CFPB Consumer Complaint Database. Bankzia is an independent resource and is not affiliated with any government agency or financial institution. Figures are for general information, not financial advice.
