Nowadays there are so many different ways to save...
Money Markets, IRA, Health Savings Accounts, and the list goes on and on. Thankfully, Magnifi Financial has your back with a variety of savings accounts that fit any need. Plus, savings accounts are like potato chips, you can't have just one!
Check out the various savings accounts you can choose from get started by applying online!
*Calculator provides general estimations
only. Inconsistencies may occur with the use of the calculator and the outcomes are not
credit guarantees. For specific payment and interest information, please contact us.
$2500.00 is required to open an account, that balance does not need to be maintained
No monthly fees or penalties
Can be used for overdraft protection on your Magnifi Financial checking account
Save money and earn chances to win cash prizes! Earn chances to win monthly, quarterly, and annual cash prizes when you regularly deposit money into this account. All the money you save plus the dividends earned is yours to keep. Save for a year and then make any withdrawals needed and keep saving to win!
It's like an electronic coin jar! Magnifi Financial debit card purchases are automatically rounded up to the next whole dollar amount and are transferred from checking into this account. Save conveniently and watch your savings grow!
Maturity date is one year from open date with the ability to set the date earlier. You have the ability to "catch-up" the deposit amount if you set an earlier maturity date on the day of account opening.
Ability to open an unlimited number of goal accounts
Ideas for a My Goal Savings Account
House down payment
Graduation or Anniversary Party
Additional Savings Accounts
Kids can start saving while earning prizes with each birthday and deposit! Learn more about kids savings accounts.
Sometimes, sometimes not. If you have already found your vehicle to purchase, we can set up financing right away and you won't need a pre-qualification letter. However, if you get pre-qualified and then shop around for vehicles, we'll send you a pre-qualification letter to bring to dealerships. Some dealerships may also contact us to confirm financing as a business practice.
Your pre-qualification offer is typically valid for 60 days with Magnifi. If we have not heard from you about purchasing a vehicle within those 60 days, then your loan application will be closed and you will need to reapply if you decide to obtain financing after the expiration date.
That's great! Go ahead and fill out an application and we'll help you get the financing together as quickly as possible. If you are working with a dealership, we'll just need the Purchase Agreement and Insurance Card. Our lending staff will help walk through everything with you to get you on the road faster.
We have several methods for you to make your loan payments:
• Magnifi Digital Banking or Mobile App: You can transfer funds from your Magnifi or external checking/savings account into your loan account.
• Online: Use our online loan payment system to set up a single or recurring payment with your debit/credit card or routing/account number.
• Mail: Send a check to: PO Box 232, Glenwood, MN 56334. Please include your Account Number and Loan ID. You will not receive a payment receipt by mail but you can verify the transaction within Digital Banking.
• Branch: Visit any Magnifi location to make a payment.
You can avoid paying as much interest if you make larger or additional payments on your vehicle loan. This will pay down the principal of the loan which means you pay less interest and you could pay off your loan quicker. However, this does not advance your due dates... Meaning, if you make twice the payment amount one month, you will still need to make a payment on the same due date the following month.
Frequently Asked Questions
We have several methods for you to make your loan payments: Magnifi Financial
Internet Banking: You can transfer funds from your Magnifi Financial
checking/savings account into your loan account. Learn more here. Magnifi Financial Mobile
App: You can transfer funds from your Magnifi Financial checking/savings
account into your loan account. Learn more
here. Phone: (888) 330-8482 Pay over the phone with a debit card
or Magnifi Financial account transfer. Mail: PO Box 190, St. Joseph,
MN 56374. Please include your Account Number and Loan ID. You will not receive a payment
receipt by mail but you can verify the transaction within Internet
Banking. Branch: Visit any Magnifi Financial location to make a
Great question! Our members can qualify for membership very easily. You will just need to
work, worship, go to school, or volunteer in one of the 18 counties of our field of
membership. So, when you open your account with us, you will open a one-time $5.00 “Share”
account which makes you a member of Magnifi Financial and an equal owner of our credit
union. And if you ever decide to close your account, you will receive your $5 deposit
back. You can learn more here.
Yes, Magnifi Financial offers additional protection for members to add on to their loans in the event that something unexpected occurs.
Work with your assigned Magnifi Financial team member to discuss the right options for you.