We are excited to once again be offering scholarships to our members! Magnifi Financial has
helped students pay for their education for over a decade with scholarship money. Credit unions
return profits back to the members in many ways, this scholarship program is a great way for
members to benefit from having an account with Magnifi Financial!
Be a member of Magnifi Financial
Be planning to attend an accredited college or university, or a two to four-year community,
vocational or technical college. All eligible schools must be accredited by the U.S. Department
Be a full-time or part-time student at the school that you are planning to attend (can be
traditional or non-traditional).
Applicant cannot be a previous recipient of a Magnifi Financial scholarship.
November 1, 2022 - February 1, 2023: Essay and video applications are accepted
February - March, 2023: Essays are evaluated and scored
March 31, 2023: Winners will be announced by the end of March on this webpage
Late March - Early April, 2023: Winners will be contacted by email and mail
Minnesota Family Involvement Council
Offering $16,000 in scholarships to eligible credit union members.
$500 Essay Scholarship Winners Alayna Kolb, Albany High School Elena
Schloemer Grace Larsen Rachel Panek, Albany High School Emily Vossen, ROCORI High
School Tyler Weisser, Harvey High School
$1,000 Video Scholarship Winners Brett Lueders, Perham High
School Megan Marcyes, LPGE High School Macy Carlson, Paynesville High School Sarah Olson,
Blaine High School Abigail Jopp, ROCORI High School Annah Winter, Kimball High
School Hallie Hoffarth, Albany High School Mallory Bents, BBE High School Shanetta
Reitmeyer, New York Mills High School Brynn Johnson, Big Lake High School Mikayla Roberg,
Paynesville High School Emily Felling, BBE High School Madysen Haag, Eden Valley-Watkins
Disbursements of Funds & Accountability
The recipient is responsible for providing Magnifi Financial with
their Fall school transcript, showing the official grades and proof of registration for the
Spring semester to receive scholarship payment. Recipients must maintain a minimum of a 2.0 on a
4.0 GPA scale, or the equivalent of a “C” average in order to receive their funds. Must be
redeemed from Magnifi Financial by May 31 of the qualifying school year. If any questions
contact us at 888.330.8482 or on our Contact Us
Financial need is not considered in the selection of the
scholarship money. Employees and immediate family members of Magnifi Financial employees are not
eligible to enter. Transcripts and letters of recommendation sent with the application will not
be considered. Video entries must not be derogatory, offensive, threatening, defamatory,
disparaging, libelous or contain any content that is inappropriate, sexual, profane, indecent,
slanderous, and discriminatory in any way.
Join the Magnifi Family!
At Magnifi, you're not just a member-owner of an award-winning credit union, you become part of the Magnifi family and receive all the benefits and perks you need to succeed financially.
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 90 days with Magnifi. If we have not heard from you about purchasing a vehicle within those 90 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.