Jed Meyer, St. Cloud Financial Credit Union CEO: “Digital tools matter, but our true value isn’t measured in features—it’s in how members feel when they interact with us: seen, heard, and supported. Always.”

In 1930, in the middle of the Great Depression, a handful of postal workers in St. Cloud, Minnesota, came to a simple conclusion: they could do more together than they could alone. Their decision to pool resources wasn’t motivated by profit. It was driven by care—for their families, their neighbors, and one another. That decision became the seed of St. Cloud Financial Credit Union (SCFCU), and nearly a century later, the spirit of “people helping people” is still its defining feature.

Today, SCFCU serves more than 27,000 members across Central Minnesota and beyond, with branches in St. Cloud, Sartell, Sauk Rapids, Becker, and Albertville. Under the leadership of CEO Jed Meyer, the organization has grown almost 400 percent in just over a decade. Yet when you look closely, its story is not about numbers. It’s about how a cooperative founded by mail carriers has evolved into a financial institution rooted in human connection, determined to make banking about people first.

More than services, it’s about how they’re delivered

On paper, SCFCU offers what you’d expect from a modern financial institution: checking and savings accounts, consumer and real estate loans, business lending, and investment services. But the way the team sees it, these products are just tools. The real difference comes in how they’re used.

Sometimes that means designing Sharia-compliant accounts to ensure inclusivity. Sometimes it means giving small businesses breathing room when traditional banks refuse to help. And in an industry that often avoids risk, SCFCU has leaned in, offering cannabis banking and digital asset solutions to communities often underserved. Their CU-Digital Asset Vault^™, developed with DaLand CUSO, allows members to securely manage cryptocurrencies alongside their traditional accounts—an example of how the credit union is bridging the future of money with the trust of local relationships.

The through-line is clear: meet people where they are and walk with them toward where they want to go.

A culture shift that fueled growth

The organization’s history can be measured in milestones, but its transformation in recent years is better explained as a philosophical shift. Several years ago, SCFCU chose to stay laser focused on its values and to treat every member as extraordinary. That wasn’t a branding exercise. It became the foundation of a cultural reset.

What began as “people helping people” deepened into “people caring for people.” It meant showing up for members in ways that had nothing to do with transactions or balances, and everything to do with dignity, empathy, and connection.

The impact has been striking. During Meyer’s 11 years as CEO, SCFCU’s nearly 400 percent growth has outpaced typical credit union benchmarks. The takeaway isn’t that numbers were chased, but that numbers followed when values led.

Banking that feels human

If you ask for proof, the team points to everyday stories. A member getting ready for surgery was reminded by her credit union family that she wasn’t alone. Newlyweds received personalized mugs to celebrate their next chapter. A man courageously pursuing sobriety was given a gift to mark his progress. When a long-time member lost his wife, SCFCU donated to her favorite food shelf in her honor.

The list goes on: care packages for members traveling for cancer treatments, celebratory gestures for students beginning their college journeys, and even Meyer himself showing up on a Sunday—alongside the branch manager—to personally prevent a member from falling victim to fraud. These aren’t stories you find in most banking annual reports. But at SCFCU, they’re reminders of why people stay loyal.

Balancing financial strength with values

The credit union now manages more than $407 million in assets, but its leadership is quick to point out that financial strength isn’t the goal—it’s the outcome.

The formula is straightforward. Passion fuels a culture where members are treated like family. Service keeps the focus on people’s goals rather than transactions. Operational excellence ensures everything is delivered safely, consistently, and sustainably. When those three values align, financial strength follows.

That approach differentiates SCFCU from both national banks and other community institutions. As Meyer puts it, what matters most isn’t what they do—products are easy to copy—it’s why and how they do it.

Technology as a bridge, not a barrier

In an era when banking is increasingly digital, SCFCU has adopted a simple philosophy: technology should serve people, not overshadow them. The credit union has rolled out conveniences like a mobile app with SavvyMoney credit monitoring, mobile deposit, and customizable dashboards. Live Teller Machines allow members to connect via video with a teller, blending digital efficiency with human interaction.

The CU-Digital Asset Vault^™ is the boldest example. By creating a secure, local way to manage cryptocurrencies, SCFCU is anchoring digital wealth in the communities where members live—ensuring those assets don’t drift to distant exchanges disconnected from local economies. It’s a tangible example of how technology can deepen trust rather than erode it.

Keeping profits local

Unlike large national banks, SCFCU doesn’t ship earnings off to shareholders. As a member-owned cooperative, profits cycle back to the community through better rates, reinvestment in services, and direct contributions to local causes.

In 2024 alone, SCFCU invested more than $202,500 into local communities, including $87,000 in direct donations and $23,000 given to nonprofits in partnership with members. Employees contributed more than 4,400 volunteer hours that year, showing that community service isn’t a side project but part of the institution’s DNA.

The reach extends beyond Minnesota through the TriUnity Foundation, a national nonprofit led by SCFCU that provides grants to families facing the crushing costs of terminal illness. In its first year, TriUnity distributed $145,000 in grants across five states.

Service above self in action

The phrase “service above self” is often used in mission statements, but SCFCU backs it with real effort. Its community outreach covers financial literacy programs for students from elementary school to college, partnerships with causes like Tackle Cancer, and the creation of Changemakers, a recognition event that celebrates leaders making extraordinary contributions in their communities.

What stands out is the scale of employee involvement. Thousands of volunteer hours weren’t mandated—they were given freely, a sign of how deeply staff identify with the credit union’s cooperative mission.

What’s next for SCFCU?

Meyer describes the organization’s future with a metaphor: Thanksgiving dinner. They load too much on their plate, but they manage to eat it all. In other words, the pipeline is full.

Upcoming priorities include expanding multicultural banking services, strengthening cannabis banking to responsibly serve an emerging industry, and reimagining investment services so members can grow with confidence. The TriUnity Foundation will continue scaling nationally.

SCFCU is also increasing its focus on students, aiming to meet young people earlier with the tools and education to set them up for financial success.

And the CU-Digital Asset Vault^™ is only the beginning. The vision is a suite of digital asset services that goes beyond storage, giving members safe, credit union-backed ways to manage the future of money without losing the personal connection that has defined SCFCU for 95 years.

A different kind of financial story

The financial services industry is crowded, and products look the same across most institutions. What sets St. Cloud Financial Credit Union apart is not its offerings but its philosophy. Banking here is not transactional. It’s relational. The focus is not on extracting value, but on creating it—and keeping it where it belongs, in the lives of members and the communities they call home.

As the institution nears its centennial, its story is proof of an idea as relevant today as it was in 1930: when values lead, growth follows. For SCFCU, the future isn’t just about balance sheets or digital tools. It’s about a simple promise that has endured nearly a century—that people, working together, can always do more than they can alone.

Meet the leader behind the success of St. Cloud Financial Credit Union

Jed Meyer has been the CEO of St. Cloud Financial Credit Union for 11 years. He leads with a mix of bold vision and down-to-earth humanity. He keeps a sticker on his whiteboard that reads, “Proceed as if success is inevitable,” and that mindset shapes how he guides the credit union: confident in the future, willing to take risks, and determined to turn values into daily behaviors.

Jed often reminds people that SCFCU’s growth—averaging nearly five times the industry norm—isn’t about products or strategy alone. It’s about people. He’s known for investing in leadership talent ahead of the curve, building a team aligned not just on performance but on integrity, curiosity, and trust. In his words, talent wins—but real teams, rooted in values and brave enough to grow together, change everything.

Those who work with Jed will tell you he’s passionate, approachable, and not afraid to laugh at himself. He dreams big, but he also shows up small—mentoring leaders, encouraging employees to bring their whole selves to work, and reminding everyone that success isn’t measured in accounts or assets, but in the meaningful differences made along the way. Through all the growth and change, Jed stays anchored in one thing: people. For him, it’s never just about banking—it’s about caring.