US Bank Directory
Banks in Ely, MN
3 FDIC-insured banks operate 3 offices in Ely, Minnesota, and 2 credit unions have 2 offices.
Source: FDIC BankFind, data as of September 5, 2026; NCUA call report as of March 31, 2026; hours checked October 10, 2026.
Bank branch map: Ely
Banks sit at the coordinates in their FDIC record; credit union offices at their NCUA address, located with the U.S. Census Bureau Geocoder. Point at a marker for today's hours, tap it for the address, directions and the bank's site.
Short answer: 5 banks and credit unions operate 5 locations in Ely, according to the FDIC and the NCUA. 5 of them have coordinates on record and are on the map. 3 publish opening hours.
Branches: FDIC, NCUA. Streets: loading.
5 locations on the map
Tap a cluster to zoom in
Positions are the regulators' own coordinates, or the Census Geocoder's point for the address, and can sit a few hundred feet from the door. Streets, buildings and parks come from OpenStreetMap through OpenFreeMap, with every street named as you zoom in; if that map cannot load, a simpler map drawn from the Census Bureau's TIGER/Line files takes its place. ATMs will follow with the Overture Maps import.
All banks and credit unions in Ely
Sorted by number of local branches. Each branch shows where its hours and phone number come from.
Short answer: Wells Fargo, Frandsen Bank & Trust and Highland Bank have the most locations in Ely, with 1 each. 3 banks have a single office in the city. Open any bank to see each address, today's hours where the bank publishes them and the phone number.
Ely Area Credit Union Credit union · 1
Ely Area Credit Union has 1 office in Ely, 2 across Minnesota. It is based in Ely, MN and $75.2 million in assets on March 31, 2026, according to its NCUA call report. Its published hours do not list Saturday.
Who can join: see the credit union's site.
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Main Office main office2 E Chapman St, 55731
All hours
Mon to Thu 8:30 am to 5 pm; Fri 8:30 am to 5:30 pm; Sat to Sun not published
Hours: NCUA, March 31, 2026
Frandsen Bank & Trust Bank · 1
Frandsen Bank & Trust has 1 branch in Ely, 34 across Minnesota and 40 nationwide. FDIC records list its main office in Lonsdale, MN and show it operating since 1901. With $3.66 billion in total assets on June 30, 2026, it ranks No. 359 of 4,232 U.S. banks by total assets. The 102 East Sheridan Branch at 102 E Sheridan St dates to 1960 in FDIC branch records. It does not publish hours in the sources this page uses; check its site before you go.
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102 East Sheridan Branch102 E Sheridan St, 55731
Highland Bank Bank · 1
Highland Bank has 1 branch in Ely, 8 across Minnesota and 8 nationwide. FDIC records list its main office in Saint Paul, MN and show it operating since 1943. With $775.9 million in total assets on June 30, 2026, it ranks No. 1,290 of 4,232 U.S. banks by total assets. The Boundary Waters Bank Branch at 601 E Sheridan St dates to 2023 in FDIC branch records. It does not publish hours in the sources this page uses; check its site before you go.
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Boundary Waters Bank Branch601 E Sheridan St, 55731
Northridge Community Credit Union Credit union · 1
Northridge Community Credit Union has 1 office in Ely, 5 across Minnesota. It is based in Virginia, MN and $109.6 million in assets on March 31, 2026, according to its NCUA call report. Its published hours do not list Saturday.
Who can join: see the credit union's site.
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Ely Office1321 E Sheridan St, 55731
All hours
Mon to Fri 9 am to 4 pm; Sat to Sun not published
Hours: NCUA, March 31, 2026
Wells Fargo Bank · 1
Wells Fargo has 1 branch in Ely, 121 across Minnesota and 4,161 nationwide. FDIC records list its main office in Sioux Falls, SD and show it operating since 1870. With $1.91 trillion in total assets on June 30, 2026, it ranks No. 4 of 4,232 U.S. banks by total assets. The Ely Branch at 104 E Chapman St dates to 1907 in FDIC branch records. Its published hours do not list Saturday.
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Ely Branch104 E Chapman St, 55731
All hours
Mon to Fri 9 am to 5 pm; Sat to Sun not published
Hours: Wells Fargo branch locator (All The Places), checked Oct 10, 2026
Join a credit union in Ely
2 credit unions have 2 offices here: Northridge Community Credit Union and Ely Area Credit Union. Each office is listed above with the phone and the hours it filed with the NCUA (call report as of March 31, 2026). Who can join each one is on its own site; the credit unions in Ely page has every office in the state's directory.
Banking in Ely: the local picture
Short answer: 3 banks run 3 branches in Ely according to the FDIC. A population estimate for this place is not available from the Census Bureau, so branches per resident are not shown.
Of the 3 banks, 0 have their main office in Ely, 2 elsewhere in Minnesota and 1 out of state, according to the FDIC.
The bank with the longest record here is Wells Fargo, operating since 1870 according to the FDIC. In FDIC branch records, the longest-running branch is Wells Fargo's office at 104 E Chapman St, dating to 1907; the newest is Highland Bank's at 601 E Sheridan St, from 2023.
2 credit unions have 2 offices in Ely, according to the NCUA. Who can join each one is on the credit unions page.
Of the 3 locations with published hours. None open on Saturday. 2 locations have no published hours in these sources.
Saturday hours in Ely
Short answer: None of the 3 Ely locations with published hours lists Saturday hours. 2 locations do not publish hours in these sources; call ahead.
Credit union hours are the text each credit union filed with the NCUA, call report as of March 31, 2026; a day the filing does not mention is shown as not published, never as closed. Bank branches show hours only where the bank publishes them in a source this page uses; 2 of the 5 locations here have no published hours yet. The source and date sit under each office. Banks and credit unions often close on Federal Reserve holidays; call ahead.
Chase, Bank of America and other national banks
Which big national banks have branches in Ely, and where the nearest one is if they do not.
Short answer: In Ely: Wells Fargo (1). No branches in Ely: Chase (nearest in Forest Lake, 189 mi), Bank of America (nearest in Blaine, 198 mi), PNC Bank, U.S. Bank (nearest in Virginia, 41 mi), Truist, Fifth Third Bank, Huntington (nearest in Duluth, 76 mi), Regions Bank, TD Bank, BMO (nearest in Little Falls, 178 mi).
| Bank | In Ely | Nearest branch if none here |
|---|---|---|
| Wells Fargo | 1 branch | here |
| Chase | None | Forest Lake, 189 miles away |
| Bank of America | None | Blaine, 198 miles away |
| PNC Bank | None | none in Minnesota |
| U.S. Bank | None | Virginia, 41 miles away |
| Truist | None | none in Minnesota |
| Fifth Third Bank | None | none in Minnesota |
| Huntington | None | Duluth, 76 miles away |
| Regions Bank | None | none in Minnesota |
| TD Bank | None | none in Minnesota |
| BMO | None | Little Falls, 178 miles away |
Branch counts from FDIC BankFind as of September 5, 2026. Distances are straight-line miles from the center of Ely to the nearest branch in Minnesota.
What your savings could earn
National benchmarks and the best published offers, from the Banrox Bank Rates tracker. Enter your own balance and rate to compare.
Short answer: At the national average savings rate of 0.38%, $10,000 kept in savings for a year earns about $38. The best published savings rate in the tracker, 3.75% at CIT Bank, earns about $375. The national average 12-month CD pays 1.71%.
| Offer | Bank | APY | Term | Minimum |
|---|---|---|---|---|
| Savings | CIT Bank | 3.75% | none | $5,000 |
| Savings | Barclays | 3.50% | none | $0 |
| Savings | Marcus by Goldman Sachs | 3.40% | none | $0 |
| CD | Synchrony Bank | 4.35% | 60 Months | $0 |
| CD | Marcus by Goldman Sachs | 4.35% | 24 Months | $500 |
| CD | American Express National Bank | 4.25% | 10 Months | $0 |
Rates are the banks' published APYs as tracked on the Banrox Bank Rates page, with the date next to each benchmark; they are not offers from Banrox and can change daily. Interest is before tax. The best offers are mostly online banks and are open to Ely residents like anyone else.
Banks near Ely
Nearby cities with at least two banks, by straight-line distance. Counts from FDIC BankFind.
Short answer: The closest towns with more choice are Virginia (41 miles) and Hibbing (60 miles). Duluth, 78 miles away, has the most banks nearby: 10.
| City | Distance | Banks | Branches |
|---|---|---|---|
| Banks in Virginia, MN | 41 mi | 5 | 6 |
| Banks in Hibbing, MN | 60 mi | 5 | 5 |
| Banks in Two Harbors, MN | 62 mi | 2 | 2 |
| Banks in Grand Marais, MN | 72 mi | 2 | 2 |
| Banks in Hermantown, MN | 77 mi | 5 | 5 |
| Banks in Duluth, MN | 78 mi | 10 | 27 |
| Banks in International Falls, MN | 86 mi | 3 | 3 |
| Banks in Cloquet, MN | 86 mi | 5 | 5 |
Bank branch openings and closings in Ely
FDIC branch records, between September 5, 2025 and September 5, 2026.
Short answer: FDIC branch records show no bank branch openings in Ely between September 5, 2025 and September 5, 2026. Closings and relocations are not tracked by the sources this page uses yet.
Banks and credit unions based in Ely
Short answer: 1 institution has its main office in Ely: Ely Area Credit Union.
| Institution | Type | Total assets, March 31, 2026 | Offices here |
|---|---|---|---|
| Ely Area Credit Union | Credit union | $75.2 million | 1 |
Banks: FDIC BankFind (community-bank flag and assets). Credit unions: NCUA call report.
Largest banks in Ely by total assets
Ranked by each bank's total assets on its FDIC balance sheet, which covers the whole bank, not only its Ely offices.
Short answer: Wells Fargo is the largest bank with offices in Ely, with $1.91 trillion in total assets on June 30, 2026, No. 4 among U.S. banks by total assets. Frandsen Bank & Trust is second with $3.66 billion. Local deposit shares will follow once the FDIC Summary of Deposits is imported.
| Bank | Total assets | Rank | Offices here | Main office |
|---|---|---|---|---|
| Wells Fargo | $1.91 trillion | No. 4 | 1 | Sioux Falls, SD |
| Frandsen Bank & Trust | $3.66 billion | No. 359 | 1 | Lonsdale, MN |
| Highland Bank | $775.9 million | No. 1,290 | 1 | Saint Paul, MN |
Total assets and ranks from FDIC BankFind as of June 30, 2026. Rank is among active banks that report total assets to the FDIC.
Banks in Ely: FAQ
How many banks are in Ely, MN?
Ely has 3 banks with 3 branches and 2 credit unions with 2 offices, according to FDIC data as of September 5, 2026 and NCUA data as of March 31, 2026.
Which bank has the most branches in Ely?
Wells Fargo, with 1. Frandsen Bank & Trust has 1 and Highland Bank has 1.
Is there a Wells Fargo in Ely, MN?
Yes. FDIC data lists 1 Wells Fargo branch in Ely as of September 5, 2026. The address and directions are under Wells Fargo above.
Is there a Frandsen Bank & Trust in Ely, MN?
Yes. FDIC data lists 1 Frandsen Bank & Trust branch in Ely as of September 5, 2026. The address and directions are under Frandsen Bank & Trust above.
Is there a Highland Bank in Ely, MN?
Yes. FDIC data lists 1 Highland Bank branch in Ely as of September 5, 2026. The address and directions are under Highland Bank above.
Is there a Chase in Ely, MN?
No. FDIC data lists no Chase branch in Ely as of September 5, 2026. The nearest is in Forest Lake, about 189 miles away in a straight line.
Which banks in Ely are open on Saturday?
None of the 3 locations with published hours lists Saturday hours. 2 locations do not publish hours in our sources; call ahead.
Which banks are headquartered in Ely?
Ely Area Credit Union has its main office in Ely, according to the FDIC and the NCUA.
What is the oldest bank in Ely?
Wells Fargo has the longest record among banks with a branch here: the FDIC shows it operating since 1870.
Which credit unions can I join in Ely?
Northridge Community Credit Union and Ely Area Credit Union have offices in Ely. Check each credit union's membership rules before you apply.
Did any bank branches open or close in Ely in the past year?
FDIC branch records show no branch openings between September 5, 2025 and September 5, 2026. Closings and relocations are not tracked by the sources this page uses yet.
Where can I find more banks near Ely?
Nearby cities with more banks include Virginia, Hibbing, Two Harbors. Virginia is 41 miles away with 5 banks.
How we build this page
Every figure above comes from one of these sources. Nothing is typed by hand, nothing is estimated.
| Data | Source | License | Updated | Data as of |
|---|---|---|---|---|
| FDIC-insured banks: branches, main offices, total assets, dates established | FDIC BankFind Suite API | Public data (U.S. government) | Monthly import | Sep 5, 2026 |
| Credit union offices, phones and hours as filed with the NCUA, total assets | NCUA call report data | Public data (U.S. government) | Quarterly import | Mar 31, 2026 |
| Map coordinates of 2 credit union offices whose NCUA record has none, from the office address | U.S. Census Bureau Geocoder | Public data (U.S. government) | With each NCUA import | Oct 19, 2026 |
| Bank branch hours, phones and branch pages (1 of 3 branches: Wells Fargo) | The banks' own branch locators, collected by All The Places | CC0 (All The Places data); each bank's locator is the primary source | Weekly spider run, monthly refresh here | Oct 10, 2026 |
| Savings and CD rates, national averages | Banrox Bank Rates | Banrox, from the banks' own rate pages and FDIC national rates | Weekly | see each rate |
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