US Bank Directory
Banks in Tower, MN
1 FDIC-insured bank operates 1 office in Tower, Minnesota, and 1 credit union has 1 office.
Source: FDIC BankFind, data as of September 5, 2026; NCUA call report as of March 31, 2026.
Bank branch map: Tower
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: 2 banks and credit unions operate 2 locations in Tower, according to the FDIC and the NCUA. 2 of them have coordinates on record and are on the map. 1 publish opening hours.
Branches: FDIC, NCUA. Streets: loading.
2 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 Tower
Sorted by number of local branches. Each branch shows where its hours and phone number come from.
Short answer: Frandsen Bank & Trust is the only bank with an office in Tower. Open any bank to see each address, today's hours where the bank publishes them and the phone number.
Embarrass Vermillion Credit Union Credit union · 1
Embarrass Vermillion Credit Union has 1 office in Tower, 4 across Minnesota. It is based in Aurora, MN and $66.3 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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Tower Branch505 Main St, 55790
All hours
Mon to Fri 8 am to 5 pm; Sat to Sun not published
Hours: NCUA, March 31, 2026
Frandsen Bank & Trust Bank · 1
Frandsen Bank & Trust has 1 branch in Tower, 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 Tower Office at 415 Main St dates to 1942 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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Tower Office415 Main St, 55790
Join a credit union in Tower
1 credit union has 1 office here: Embarrass Vermillion 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 Tower page has every office in the state's directory.
Banking in Tower: the local picture
Short answer: 1 bank runs 1 branch in Tower according to the FDIC. A population estimate for this place is not available from the Census Bureau, so branches per resident are not shown.
Frandsen Bank & Trust has its main office in Lonsdale, MN, according to the FDIC.
The bank with the longest record here is Frandsen Bank & Trust, operating since 1901 according to the FDIC.
The only credit union with an office here is Embarrass Vermillion Credit Union.
Of the 1 location with published hours. None open on Saturday. 1 location has no published hours in these sources.
Saturday hours in Tower
Short answer: None of the 1 Tower location with published hours lists Saturday hours. 1 location does 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; 1 of the 2 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 Tower, and where the nearest one is if they do not.
Short answer: No branches in Tower: Chase (nearest in Forest Lake, 178 mi), Wells Fargo (nearest in Ely, 20 mi), Bank of America (nearest in Blaine, 186 mi), PNC Bank, U.S. Bank (nearest in Virginia, 23 mi), Truist, Fifth Third Bank, Huntington (nearest in Duluth, 69 mi), Regions Bank, TD Bank, BMO (nearest in Little Falls, 160 mi).
| Bank | In Tower | Nearest branch if none here |
|---|---|---|
| Chase | None | Forest Lake, 178 miles away |
| Wells Fargo | None | Ely, 20 miles away |
| Bank of America | None | Blaine, 186 miles away |
| PNC Bank | None | none in Minnesota |
| U.S. Bank | None | Virginia, 23 miles away |
| Truist | None | none in Minnesota |
| Fifth Third Bank | None | none in Minnesota |
| Huntington | None | Duluth, 69 miles away |
| Regions Bank | None | none in Minnesota |
| TD Bank | None | none in Minnesota |
| BMO | None | Little Falls, 160 miles away |
Branch counts from FDIC BankFind as of September 5, 2026. Distances are straight-line miles from the center of Tower 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 Tower residents like anyone else.
Banks near Tower
Nearby cities with at least two banks, by straight-line distance. Counts from FDIC BankFind.
Short answer: The closest towns with more choice are Ely (20 miles) and Virginia (23 miles). Duluth, 70 miles away, has the most banks nearby: 10.
| City | Distance | Banks | Branches |
|---|---|---|---|
| Banks in Ely, MN | 20 mi | 3 | 3 |
| Banks in Virginia, MN | 23 mi | 5 | 6 |
| Banks in Hibbing, MN | 41 mi | 5 | 5 |
| Banks in Two Harbors, MN | 61 mi | 2 | 2 |
| Banks in Hermantown, MN | 69 mi | 5 | 5 |
| Banks in Duluth, MN | 70 mi | 10 | 27 |
| Banks in Grand Rapids, MN | 71 mi | 7 | 9 |
| Banks in Cloquet, MN | 76 mi | 5 | 5 |
Bank branch openings and closings in Tower
FDIC branch records, between September 5, 2025 and September 5, 2026.
Short answer: FDIC branch records show no bank branch openings in Tower between September 5, 2025 and September 5, 2026. Closings and relocations are not tracked by the sources this page uses yet.
Largest banks in Tower by total assets
Ranked by each bank's total assets on its FDIC balance sheet, which covers the whole bank, not only its Tower offices.
Short answer: Frandsen Bank & Trust is the largest bank with offices in Tower, with $3.66 billion in total assets on June 30, 2026, No. 359 among U.S. banks by total assets. Local deposit shares will follow once the FDIC Summary of Deposits is imported.
| Bank | Total assets | Rank | Offices here | Main office |
|---|---|---|---|---|
| Frandsen Bank & Trust | $3.66 billion | No. 359 | 1 | Lonsdale, 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 Tower: FAQ
How many banks are in Tower, MN?
Tower has 1 bank with 1 branch and 1 credit union with 1 office, according to FDIC data as of September 5, 2026 and NCUA data as of March 31, 2026.
Is there a Frandsen Bank & Trust in Tower, MN?
Yes. FDIC data lists 1 Frandsen Bank & Trust branch in Tower as of September 5, 2026. The address and directions are under Frandsen Bank & Trust above.
Is there a Chase in Tower, MN?
No. FDIC data lists no Chase branch in Tower as of September 5, 2026. The nearest is in Forest Lake, about 178 miles away in a straight line.
Which banks in Tower are open on Saturday?
None of the 1 location with published hours lists Saturday hours. 1 location does not publish hours in our sources; call ahead.
What is the oldest bank in Tower?
Frandsen Bank & Trust has the longest record among banks with a branch here: the FDIC shows it operating since 1901.
Which credit unions can I join in Tower?
Embarrass Vermillion Credit Union has an office in Tower. Check each credit union's membership rules before you apply.
Did any bank branches open or close in Tower 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 Tower?
Nearby cities with more banks include Ely, Virginia, Hibbing. Ely is 20 miles away with 3 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 1 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 |
| 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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