Northwoods Credit Union


Overview / Commentary
218-879-4181
1702 Avenue B
Cloquet, MN 55720

Northwoods Credit Union is headquartered in Cloquet and is the 33rd largest credit union in the state of Minnesota. It is also the 1,357th largest credit union in the nation. It was established in 1936 and as of March of 2025, it had grown to 56 employees and 11,959 members at 4 locations. Northwoods Credit Union's CD rates are 3X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership is open to those who live, work, worship or attend school in Pine, Carlton or St. Louis County. Membership is also open to employees of Carlton County, City of Carlton, Carlton School District, Carlton Fire Department, City of Wrenshall, Cloquet Ford-Chrysler Center, Wrenshall Fire Department, Cloquet Terminal Railroad, Community Printing, Cloquet Transit/LCS Coaches, Esko School District, High Mark Construction, Jarden Home Brands, Inter-Faith Care Center, Potlatch, Ray Riihiluom Specialty Minerals, a Inc, RAM Mutual Insurance Company, RE/MAX Cloquet, Upper Lakes Foods, WKLK Radio Station, and members of the VFW of Carlton.
See current membership details

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Health
B+

Health Grade Components

Overall
NCUA #62847
Year Chartered1936
Employees56
Primary Regulator
Profit Margin
Return on Assets - YTD1.11%
Return on Equity - YTD13.08%
Annual Interest Income$2.7MM
Assets and Liabilities
AssetsQ1 2025vs Q1 2024$179.1MM$177.1MM
LoansQ1 2025vs Q1 2024$135MM$133.2MM
DepositsQ1 2025vs Q1 2024$162.5MM$161.4MM
Equity CapitalQ1 2025vs Q1 2024$15.1MM$13.3MM
Loan Loss AllowanceQ1 2025vs Q1 2024$1MM$1MM
Unbacked Noncurrent LoansQ1 2025vs Q1 2024$397K$467K
Real Estate OwnedQ1 2025vs Q1 2024$0$39K
Rates
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Always verify rates and promotions with the bank or credit union. We are not Northwoods Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Northwoods Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%$0-Health Savings Account
0.15%$10-Christmas Club
0.05%$5-Share Account
0.05%$0-Special Savings

Northwoods Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.45%*$100k*-Money Market
OTHER TIERS: 0.05% $10 - $2.5k | 0.30% $2.5k - $25k | 0.35% $25k - $50k | 0.40% $50k - $100k

Northwoods Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.60%$10$10kLoyalty Choice Rewards Checking w/ 4 Qualifiers
0.45%$10$10kLoyalty Choice Rewards Checking w/ 3 Qualifiers
0.30%$10$10kLoyalty Choice Rewards Checking w/ 2 Qualifiers
0.15%$10$10kLoyalty Choice Rewards Checking w/ 1 Qualifier

Northwoods Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.73%*$100k*-60 Month Certificate
OTHER TIERS: 2.53% $1k - $50k | 2.63% $50k - $100k
2.48%*$100k*-12 Month Certificate
OTHER TIERS: 2.27% $1k - $50k | 2.38% $50k - $100k
2.48%*$100k*-24 Month Certificate
OTHER TIERS: 2.27% $1k - $50k | 2.38% $50k - $100k
2.48%*$100k*-36 Month Certificate
OTHER TIERS: 2.27% $1k - $50k | 2.38% $50k - $100k
2.22%*$100k*-6 Month Certificate
OTHER TIERS: 2.02% $1k - $50k | 2.12% $50k - $100k

Northwoods Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.48%*$100k*-24 Month IRA Certificate
OTHER TIERS: 2.27% $1k - $50k | 2.38% $50k - $100k
2.48%*$100k*-36 Month IRA Certificate
OTHER TIERS: 2.27% $1k - $50k | 2.38% $50k - $100k
2.48%*$100k*-24 Month Roth IRA Certificate
OTHER TIERS: 2.27% $1k - $50k | 2.38% $50k - $100k
2.48%*$100k*-36 Month Roth IRA Certificate
OTHER TIERS: 2.27% $1k - $50k | 2.38% $50k - $100k
0.35%$0-IRA Account
0.35%$0-Roth IRA
0.35%$0-Educational IRA
Locations


Northwoods Credit Union Locations
Branch Office902 Stanley AveCloquet, MN 55720
Branch Office1702 Avenue BCloquet, MN 55720
Branch Office90 Arrowhead LnMoose Lake, MN 55767-9453
Branch Office224 Highway 2 WFloodwood, MN 55736-4538

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