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Northwoods Credit Union

Popular Accounts at this Credit Union

2.12%5-year CD60 Month Certificate
2.00%Reward CheckingKasasa Cash
0.95%1-year CD12 Month Certificate

Overview / Commentary
1702 Avenue B
Cloquet, MN 55720

Northwoods Credit Union is headquartered in Cloquet and is the 43rd largest credit union in the state of Minnesota. It is also the 1,677th largest credit union in the nation. It was established in 1936 and as of September of 2017, it had grown to 32 employees and 8,343 members at 3 locations. Northwoods Credit Union's money market rates are 25% higher than the national average, and it has an A 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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Reviews (1)

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!! :)

Additional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. Northwoods Credit Union has a relatively low asset base.

Health Grade Components

NCUA #62847
Year Chartered1936
Primary Regulator
Profit Margin
Return on Assets - YTD-0.03%
Return on Equity - YTD-0.33%
Annual Interest Income$3.4MM
Assets and Liabilities
AssetsQ3 2017vs Q3 2016$92.4MM$85.9MM
LoansQ3 2017vs Q3 2016$69.7MM$65.7MM
DepositsQ3 2017vs Q3 2016$82.5MM$76.4MM
Equity CapitalQ3 2017vs Q3 2016$9.3MM$9.3MM
Loan Loss AllowanceQ3 2017vs Q3 2016$603.00K$628.00K
Unbacked Noncurrent LoansQ3 2017vs Q3 2016$339.00K$996.00K
Real Estate OwnedQ3 2017vs Q3 2016$73.00K$0
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* 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

0.70%--IRA Account
0.70%--SEP Account
0.70%--Regular Roth IRA
0.70%--Converted Roth IRA
0.70%--Educational IRA
0.25%--Health Savings Account
0.20%--Christmas Club
0.10%--Share Account
0.10%--Special Savings

Northwoods Credit Union Money Market Rates

0.55%*$100k*-Money Market
OTHER TIERS: 0.10% $10 - $2,500 | 0.25% $2,500 - $25k | 0.35% $25k - $50k | 0.45% $50k - $100k

Northwoods Credit Union Checking Account Rates

2.00%*-$10kKasasa Cash
OTHER TIERS: 0.20% $10k+

Northwoods Credit Union CD Rates

2.12%*$100k*-60 Month Certificate
OTHER TIERS: 1.86% $1k - $10k | 1.96% $10k - $25k | 2.02% $25k - $50k | 2.07% $50k - $100k
1.51%*$100k*-36 Month Certificate
OTHER TIERS: 1.31% $1k - $10k | 1.36% $10k - $25k | 1.41% $25k - $50k | 1.46% $50k - $100k
1.26%*$100k*-24 Month Certificate
OTHER TIERS: 1.05% $1k - $10k | 1.10% $10k - $25k | 1.16% $25k - $50k | 1.21% $50k - $100k
0.95%*$100k*-12 Month Certificate
OTHER TIERS: 0.75% $1k - $10k | 0.80% $10k - $25k | 0.85% $25k - $50k | 0.90% $50k - $100k
0.50%$1k-6 Month Certificate
0.45%$1k-3 Month Certificate

Northwoods Credit Union IRA Rates

1.51%*$100k*-36 Month IRA Certificate
OTHER TIERS: 1.31% $1k - $10k | 1.36% $10k - $25k | 1.41% $25k - $50k | 1.46% $50k - $100k
1.51%*$100k*-36 Month Roth IRA Certificate
OTHER TIERS: 1.31% $1k - $10k | 1.36% $10k - $25k | 1.41% $25k - $50k | 1.46% $50k - $100k
1.26%*$100k*-24 Month IRA Certificate
OTHER TIERS: 1.05% $1k - $10k | 1.10% $10k - $25k | 1.16% $25k - $50k | 1.21% $50k - $100k
1.26%*$100k*-24 Month Roth IRA Certificate
OTHER TIERS: 1.05% $1k - $10k | 1.10% $10k - $25k | 1.16% $25k - $50k | 1.21% $50k - $100k

Northwoods Credit Union Locations
Branch Office902 Stanley AveCloquet, MN 55720
Branch Office1702 Avenue BCloquet, MN 55720
Corporate Office105 Arch St Ste 200Cloquet, MN 55720-1566