-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 LpsIdpqffRd1NwT7M3PZ3OjLMTG6gimaszkNdLKZ4cQA2UJkUKiDzROYVP5X22Ps
 MWnRw0rMBO8Tc1zOkEoLsA==

<SEC-DOCUMENT>0001181431-05-059646.txt : 20051104
<SEC-HEADER>0001181431-05-059646.hdr.sgml : 20051104
<ACCEPTANCE-DATETIME>20051104132434
ACCESSION NUMBER:		0001181431-05-059646
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20051103
FILED AS OF DATE:		20051104
DATE AS OF CHANGE:		20051104

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UNITED FINANCIAL CORP \MN\
		CENTRAL INDEX KEY:			0001011309
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				810507591
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		120 1ST AVENUE NORTH
		CITY:			GREAT FALLS
		STATE:			MT
		ZIP:			59401
		BUSINESS PHONE:		4067276106

	MAIL ADDRESS:	
		STREET 1:		120 1ST AVENUE NORTH
		STREET 2:		P O BOX 2779
		CITY:			GREAT FALLS
		STATE:			MT
		ZIP:			59403-2779

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			DELANEY PAULA J
		CENTRAL INDEX KEY:			0001230538

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-28080
		FILM NUMBER:		051179471

	BUSINESS ADDRESS:	
		STREET 1:		120 1ST AVE N
		CITY:			GREAT FALLS
		STATE:			MI
		ZIP:			59401
		BUSINESS PHONE:		4067276106

	MAIL ADDRESS:	
		STREET 1:		120 1ST AVE N
		CITY:			GREAT FALLS
		STATE:			MT
		ZIP:			59401
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd96314.xml
<DESCRIPTION>11-03-05 FORM 4  P.DELANEY
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2005-11-03</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001011309</issuerCik>
        <issuerName>UNITED FINANCIAL CORP \MN\</issuerName>
        <issuerTradingSymbol>UBMT</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001230538</rptOwnerCik>
            <rptOwnerName>DELANEY PAULA J</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>120 1ST AVE N</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>GREAT FALLS</rptOwnerCity>
            <rptOwnerState></rptOwnerState>
            <rptOwnerZipCode>59401</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>CHIEF FINANCIAL OFFICER</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, no par value per share</value>
            </securityTitle>
            <transactionDate>
                <value>2005-11-03</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>498.75</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>9.015</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>998</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Employee Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>9.015</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2005-11-03</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>498.75</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2001-05-23</value>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2010-05-23</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>498.75</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeHolding>
            <securityTitle>
                <value>Employee Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>10.697</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2002-05-22</value>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2011-05-22</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>2475</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2475</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>14.182</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2003-05-21</value>
                <footnoteId id="F4"/>
            </exerciseDate>
            <expirationDate>
                <value>2012-05-21</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>2475</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2475</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>17.467</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2004-05-20</value>
                <footnoteId id="F5"/>
            </exerciseDate>
            <expirationDate>
                <value>2013-05-20</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>750</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>750</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>24.86</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2005-05-25</value>
                <footnoteId id="F6"/>
            </exerciseDate>
            <expirationDate>
                <value>2014-05-25</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>400</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>400</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>25.25</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2006-10-31</value>
                <footnoteId id="F7"/>
            </exerciseDate>
            <expirationDate>
                <value>2015-10-31</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>800</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>800</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Grant date of 05/23/2000, exercisable as to 206.25 shares on each of 05/23/01, 05/23/02, 05/23/03, 05/23/04.</footnote>
        <footnote id="F2">Exercise of derivative securities.</footnote>
        <footnote id="F3">Grant date of 05/22/2001, exercisable as to 618.75 shares on each of 05/22/02, 05/22/03, 05/22/04, 05/22/05.</footnote>
        <footnote id="F4">Grant date of 05/21/2002, exercisable as to 618.75 shares on each of 05/21/03, 05/21/04, 05/21/05, 05/21/06.</footnote>
        <footnote id="F5">Grant date of 05/20/2003, exercisable as to 187.50 shares on each of 05/20/04, 05/20/05, 05/20/06, 05/20/07.</footnote>
        <footnote id="F6">Grant date of 05/25/2004, exercisable as to 100 shares on each of 05/25/05, 05/25/06, 05/25/07, 05/25/08.</footnote>
        <footnote id="F7">Grant date of 10/31/2005, exercisable as to 200 shares on each of 10/31/06, 10/31/07, 10/31/08, 10/31/09.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Kurt R. Weise POA for Paula J. Delaney</signatureName>
        <signatureDate>2005-11-04</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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