Minnesotans use national banks most, but credit unions lead on trust
National banks are the top day-to-day banking choice, used most often by 37% of Minnesotans. Credit unions rank second at 25%.
On trust, the order flips: 28% say they trust credit unions just about always, compared with 12% for national banks.
How much Minnesotans trust different financial institutions
Share of Minnesota adults who say they can trust each type of institution just about always or most of the time.
Credit unions| Just about always | 28% |
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| Most of the time | 43% |
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| Only some of the time | 21% |
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| Never | 6% |
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Regional/community banks| Just about always | 14% |
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| Most of the time | 48% |
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| Only some of the time | 27% |
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| Never | 8% |
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National banks| Just about always | 12% |
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| Most of the time | 39% |
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| Only some of the time | 34% |
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| Never | 14% |
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Payment companies| Just about always | 11% |
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| Most of the time | 38% |
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| Only some of the time | 36% |
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| Never | 13% |
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Credit card companies| Just about always | 9% |
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| Most of the time | 35% |
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| Only some of the time | 33% |
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| Never | 21% |
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Online-only banks| Just about always | 7% |
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| Most of the time | 34% |
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| Only some of the time | 37% |
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| Never | 19% |
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Refused responses not shown.
Day-to-day banking among Minnesota adults
Share of Minnesota adults who use each type of institution most often for day-to-day banking.
National bank (Wells Fargo, U.S. Bank, etc)| Share | 37% |
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Credit union (Wings Credit Union, TruStone Financial, etc)| Share | 25% |
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Regional or local bank (Bremer Bank, Minnwest Bank, etc)| Share | 20% |
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Online-only bank (Ally, SoFi, etc)| Share | 6% |
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Fintech platform (PayPal/Venmo, Cash App, etc)| Share | 4% |
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Refused responses not shown.
Source: Lumaris Research, Minnesota Community Survey of 1,424 adults, May 9 to Aug. 30, 2025.
Margin of error is ±3.47 pp at 95% confidence level.