Banking and financial services in North Dakota: State-chartered financial institutions. Bank of North Dakota services. Local credit unions options. Online banking availability. Financial literacy programs. Loan and mortgage options. Investment advisory services. North Dakota tax regulations. Banking business hours. Access to ATM networks.
State-chartered financial institutions
The North Dakota Department of Financial Institutions is responsible for chartering, regulating, and examining North Dakota state-chartered banks, credit unions, and trust companies, ensuring they operate in a safe and sound manner while complying with applicable rules and laws. The Department also regulates various other financial service providers, such as money brokers, mortgage loan originators, and collection agencies, to promote the economic well-being of North Dakota businesses and consumers. For more details on these responsibilities, you can visit the North Dakota Department of Financial Institutions website.
Bank of North Dakota services
The Bank of North Dakota (BND) is the only state-owned bank in the U.S., serving as the depository for all state funds and providing a range of services, including loan programs for agriculture, business development, and students. Additionally, it offers banking services for local financial institutions and the public, with a focus on promoting economic development in North Dakota. For more detailed information, you can visit the Bank of North Dakota official website.
Local credit unions options
In North Dakota, top credit union options include First Community Credit Union, Railway Credit Union, Aspire Credit Union, United Savings Credit Union, and Capital Credit Union. Each offers competitive APRs on various loan types, extensive membership eligibility criteria, and a range of financial services, including home financing, auto loans, and agricultural loans. For more information on these options, you can visit the Factory Warranty List which provides details on credit unions in North Dakota.
Online banking availability
Online banking in North Dakota, as offered by the Bank of North Dakota, provides users with a convenient platform to manage their finances. With features that allow customers to check account balances, make transfers between accounts, view account history, and enroll in electronic statements, it enhances financial accessibility and control. Additionally, the ability to deposit checks via a mobile app adds to the ease and efficiency of managing one's finances digitally. For more information about these services, visit the Bank of North Dakota's website and discover the full suite of online banking options available.
Financial literacy programs
North Dakota has launched an online financial literacy program through SmartWithMyMoney.nd.gov, offering free education modules on budgeting, credit card debt, and other financial topics, with the goal of making North Dakotans the most financially literate in the U.S. by 2027. The program includes a financial personality test and offers cash prizes for completing assignments, aiming to improve residents' financial health and the state's economy. For more details, you can visit the Financial Literacy Program website.
Loan and mortgage options
The Bank of North Dakota (BND) provides a wide range of financial solutions, catering to various needs by offering loan and mortgage options that include short-term loans and bond financing for infrastructure projects, direct loans to private borrowers, and comprehensive banking services to local banks. They also provide guarantees for student loans and business development loans, particularly for agricultural startups. In North Dakota, potential homebuyers can benefit from different mortgage options such as conventional, FHA, and VA loans, alongside programs like FirstHome and North Dakota Roots, which aim to assist with down payments and closing costs for first-time buyers and low-to-moderate income residents. These beneficial programs are possible through the North Dakota Housing Finance Agency. The state ensures that its financial operations are running smoothly through the North Dakota Department of Financial Institutions, which regulates state-chartered banks and credit unions, thus maintaining compliance with state laws. If you're interested in learning more about these opportunities and financial services, you can visit the Bank of North Dakota website for detailed information.
Investment advisory services
In North Dakota, top investment advisory services are provided by firms such as Eide Bailly Advisors, Prairiewood Wealth Management, and Light Financial Services. These companies offer financial planning, asset management, and model investment strategies, with Eide Bailly Advisors having the largest assets under management and a fiduciary obligation to act in clients' best interests.
North Dakota tax regulations
North Dakota's tax regulations are outlined in the North Dakota Century Code and Administrative Rules, covering various taxes such as income tax, sales and use tax, property taxation, and specific industry taxes like coal severance and oil and gas taxes. These regulations also include rules for tax exemptions, credits, and administrative procedures. For more detailed information, you can visit the North Dakota Laws and Regulations page, which provides comprehensive insights into these tax guidelines.
Banking business hours
Banking business hours in North Dakota, such as at Gate City Bank in Devils Lake, typically run from 9:00 a.m. to 5:00 p.m. for the lobby and 7:30 a.m. to 6:00 p.m. for drive-up services, Monday through Friday, with reduced hours on Saturdays and closed on Sundays and certain holidays.
Access to ATM networks
Members of North Star Credit Union in North Dakota have access to surcharge-free ATMs through the MoneyPass ATM Network, in addition to the credit union's own branches and ATMs across the state.