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.
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
Overall | |
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NCUA # | 62847 |
Year Chartered | 1936 |
Employees | 56 |
Primary Regulator |
Profit Margin | |
---|---|
Return on Assets - YTD | 1.11% |
Return on Equity - YTD | 13.08% |
Annual Interest Income | $2.7MM |
Assets and Liabilities | ||
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Assets | Q1 2025vs Q1 2024 | $179.1MM$177.1MM |
Loans | Q1 2025vs Q1 2024 | $135MM$133.2MM |
Deposits | Q1 2025vs Q1 2024 | $162.5MM$161.4MM |
Equity Capital | Q1 2025vs Q1 2024 | $15.1MM$13.3MM |
Loan Loss Allowance | Q1 2025vs Q1 2024 | $1MM$1MM |
Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $397K$467K |
Real Estate Owned | Q1 2025vs Q1 2024 | $0$39K |
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.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
0.25% | $0 | - | Health Savings Account | |
0.15% | $10 | - | Christmas Club | |
0.05% | $5 | - | Share Account | |
0.05% | $0 | - | Special Savings |
APY | MIN | MAX | ACCOUNT NAME | VIEW 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 Locations | ||
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Branch Office | 902 Stanley Ave | Cloquet, MN 55720 |
Branch Office | 1702 Avenue B | Cloquet, MN 55720 |
Branch Office | 90 Arrowhead Ln | Moose Lake, MN 55767-9453 |
Branch Office | 224 Highway 2 W | Floodwood, MN 55736-4538 |