Credit union · NCUA insured
Northwoods Credit Union
Top CarrotA $178M credit union headquartered in Cloquet, MN, with 11,728 members and 4 branches in Minnesota. Best rates: CDs 2.22% and savings 0.30% APY.
Northwoods Credit Union Carrot Score
Carrot ScoreTop Carrot
Higher than 87% of U.S. banks and credit unions
#2 of 29 in Duluth, MN-WI metroHow the score works →
Deposits are federally insured by the NCUA up to $250,000 per depositor.
About Northwoods Credit Union
Founded in 1936 as a small credit union serving mill workers, Northwoods Credit Union is a member-owned cooperative serving individuals, families, and businesses across northern Minnesota.
Originally Northwest Paper Employees Credit Union, it became Potlatch Employees Credit Union in 1992, took its current name in 2002, and merged with Floodwood Area Credit Union in 2018.
- Headquarters
- 1702 Avenue B, Cloquet, MN 55720
- NCUA charter
- 62847
Membership
Who can join
This may be incomplete or out of date, so check with the credit union before you apply.
Where you live or work
- Individuals who live, work, attend school, volunteer, or worship in Carlton, Pine, St. Louis, Douglas, Burnett, Aitkin, Kanabec, or Itasca County are eligible to join.
Employers and groups
- Employees of listed select employer groups (Casino Pizza & Sub Shop, Potlatch, Cloquet Terminal Railroad, Cloquet Transit/LCS Coaches, Community Printing, Inter-Faith Care Center, RAM Mutual Insurance Company, Ray Riihiluoma, Inc., Re/Max of Cloquet, Sappi North America, Upper Lakes Foods, WKLK Radio Station) and members of VFW of Carlton are eligible to join.
Military, government and schools
- Employees of Carlton County, Carlton School District, City of Carlton/Carlton Fire Department, City of Wrenshall/Wrenshall Fire Department, or Esko School District are eligible to join.
Family and household
- Immediate family (including spouses, children, parents, siblings, and other qualifying relatives) and household members of current Northwoods Credit Union members are eligible for membership.
Branches
4 branches in Minnesota
Loading map…
Minnesota
4 branches
- 1702 Avenue BMain office1702 Avenue B, Cloquet, MN 55720Directions
- 902 Stanley Avenue902 Stanley Ave, Cloquet, MN 55720Directions
- Floodwood Branch224 Highway 2 W, Floodwood, MN 55736Directions
- Moose Lake Branch90 Arrowhead Ln, Moose Lake, MN 55767Directions
Walk-in offices from the NCUA directory as of March 31, 2026. Directions open Google Maps. A nearby branch doesn’t mean you can join or open an account.
Financial details
Well capitalizedas reported to the NCUA
| Measure | This credit union | Peers’ middle | Strongest quarter |
|---|---|---|---|
| CapitalNet worth ratio | 9.93% | 11.43% | 13.58% or more |
| Troubled loans60+ days late | 0.49% | 0.68% | 0.39% or less |
| ProfitabilityReturn on assets | 1.35% | 0.75% | 1.18% or more |
| LendingLoans per $100 deposited | $85 | $76 | — |
- CapitalNet worth ratio9.93%Peers’ middle 11.43% · Top 25% 13.58%+
- Troubled loans60+ days late0.49%Peers’ middle 0.68% · Top 25% ≤0.39%
- ProfitabilityReturn on assets1.35%Peers’ middle 0.75% · Top 25% 1.18%+
- LendingLoans per $100 deposited$85Peers’ middle $76
Compared with the 1,338 credit unions with $100 million to $1 billion in assets. The strongest quarter is what the best 25% of them reach: more capital and profit, fewer troubled loans. Lending has no better end.Troubled loans are loans 60 or more days late.
Regulators’ own ratings of Northwoods Credit Union are confidential. These figures are what it reports to the NCUA each quarter, set beside its peers; they aren’t a rating.