Northwoods Credit Union is headquartered in Cloquet and is the 37th largest credit union in the state of Minnesota. It is also the 1,411th largest credit union in the nation. It was established in 1936 and as of September of 2022, it had grown to 54 employees and 11,357 members at 4 locations. Northwoods Credit Union 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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Northwoods Credit Union
I am loving the Cash Back on my Account and this Bank Is Pretty Amazing! Really knows how to do business with its Members. Way to go NorthWoods Credit Union!! A + Service!! :)
Data as of Q3 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 62847 |
| Year Chartered | 1936 |
| Employees | 54 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.31% |
| Return on Equity - YTD | 15.63% |
| Annual Interest Income | $5.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2022vs Q3 2021 | $164.5MM$158.5MM |
| Loans | Q3 2022vs Q3 2021 | $136.4MM$116.3MM |
| Deposits | Q3 2022vs Q3 2021 | $150.1MM$145.8MM |
| Equity Capital | Q3 2022vs Q3 2021 | $13.7MM$12.1MM |
| Loan Loss Allowance | Q3 2022vs Q3 2021 | $681.00K$675.00K |
| Unbacked Noncurrent Loans | Q3 2022vs Q3 2021 | $621.00K$410.00K |
| Real Estate Owned | Q3 2022vs Q3 2021 | $0$0 |