Better Together

Novation Credit Union and Heartland Credit Union announce merger approval.

We’re excited to announce that Heartland Credit Union (Heartland) members voted in favor of the merger with Novation Credit Union (Novation) and state regulatory approval has been received. Beginning July 1, 2026, we’ll come together as Novation Credit Union, positioning us to bring you even more value in addition to the service 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.

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.

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A Joint Message from our CEOs

We’re excited to move forward with this partnership and what this next chapter will bring to you, our employees and the communities we serve.

This strategic partnership was made with great care and a shared commitment to member service, community impact, and the people who make that work possible – our employees.

.

Mike Kronebusch
Novation President & CEO

Kathleen Harrington
Heartland CEO

Member Benefits

Improved Technology

Expanded Services

More Convenience

Improved Efficiency

Frequently Asked Questions

Why are Novation and Heartland unifying?
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: 3M, Solventum, CHS Inc., and Land O’Lakes, Inc. In addition, this combined credit union will serve members in 11 Minnesota counties (including McLeod and Washington Counties where we are today).

Who will lead the unified credit union?
Mike Kronebusch, our current President and CEO, will continue in those roles at the unified credit union. 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.
What are the next steps? Does this require approval?

Heartland members voted in favor of the merger in a vote that concluded March 31, 2026. We have also received state regulatory approval, allowing us to continue moving forward with July 1, 2026 as our official date of unification.

It will take additional time to get everything converted to common systems and platforms. Full operational unification is expected to be complete sometime in 2027.

How will unification benefit me as a member?
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.
Is Novation leadership in favor of this unification?
Completely. The leadership team has vetted this opportunity extensively in collaboration with the Board of Directors. The Board recently unanimously approved the unification believing it offers the best opportunity for Novation Financial to continue advancing our strategic plan which aims to drive sustainable growth within both our Select Employer Groups and in our communities.
Is Novation Credit Union going away?
Definitely not! The unified credit union will continue all operations under the official name of Novation Credit Union, and we will continue to use Novation Financial as the umbrella name that includes the credit union, Novation Wealth Management, and the Novation Foundation. Additionally, all branches of both credit unions will remain open as part of the unified Novation.
Will my money be safe throughout this transition?
Yes. Your deposits will remain federally insured up to the standard limits and will be safe and secure every step of the way.
Will there be any branch closures or changes to business hours.
No. Novation branches will remain open as usual throughout the unification with Heartland.
Do I need to do anything with my accounts, payments, direct deposits, etc.?
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.
Who should I contact for support?
For now, you can continue to use your usual support channels and contact information. All branches remain open. Any future changes to contact information will be communicated in advance.
Who is Heartland Credit Union?
Heartland Credit Union was established as Farmers Union Employees Credit Union in 1939. It has a rich legacy of supporting employees and their families at both CHS and Land O’ Lakes, very similar to Novation’s connections to 3M and Solventum.

Heartland’s field of membership also includes 10 counties in the greater Twin Cities area, anchored by branches in Inver Grove Heights, Hugo, and New Prague (currently building a new branch there).

Where are Heartland's branches? Can I use them right away?

Heartland has branches in Inver Grove Heights, Hugo, and New Prague, MN. It will take time to integrate their branches with Novation’s systems and processes (sometime in 2027), so continue going to your usual Novation branch for the immediate future.

Get to Know Heartland

  • Founded in 1939 as Farmers Union Employees Credit Union
  • Became Cenex Credit Union in 1986
  • Merged with MSI Federal Credit Union in 1988
  • Merged with Land O’Lakes Credit Union and changed name to Heartland Credit Union in 1996
  • Branches in Inver Grove Heights, Hugo, and New Prague, MN
  • Serves nearly 11,000 members across ten counties in the Twin Cities area
  • Select Employer Groups include Land O’Lakes, CHS, and more
  • CEO a Top Women in Finance Award honoree