Dedicated Team
We also take pride in having 55 full-time employees and 1 part-time employees, ensuring our branches are always ready to serve you with a knowledgeable, committed team. Our staff is trained to provide personalized support tailored to your individual needs.
Efficient Operations
Our $424,819 reflects our operational efficiency, enabling us to continue offering competitive loan rates and solid financial products for our members. This income is a testament to our effective management practices and dedication to serving you well.
Focused on Our Members
Unlike traditional banks, we prioritize our members. With non-member deposits at $0, we ensure that our resources are focused on benefiting you through better loan rates, lower fees, and exclusive perks. Our commitment is to put your interests first.
Growing Member Base
Total Share Accounts: 24,777, showing a strong and growing member base that trusts us with their finances. Your trust is what drives us forward as we strive to enhance your banking experience. Our financial strength means we can continue serving you with confidence. Whether you're saving, borrowing, or planning for the future, Northwoods is your trusted partner. Visit us at 1702 Avenue B Cloquet Mn 55720 or call (218) 879-4181 to learn more about how we can help you achieve your financial goals.
Member Savings Secured
Members' savings are secured through $34,991,730 in share certificates and $24,428,911 in money market shares, offering stable and rewarding financial growth opportunities. We prioritize the safety of your investments while providing options that can help your money grow over time.
Reinvesting for Growth
With $13,363,588 in undivided earnings, we reinvest in innovative banking tools, stronger lending options, and enhanced security measures to serve our members better. This reinvestment strategy enables us to continually improve our services and adapt to your needs.
Solid Capital Foundation
Our net worth ratio of 7.99% demonstrates a solid capital foundation, ensuring that we can continue providing loans, competitive savings rates, and uninterrupted services even in uncertain economic times. This ratio indicates our commitment to prudent financial management and long-term stability.
Strong Net Worth
With a net worth of $14,098,035, we maintain strong financial health, allowing us to offer better rates, lower fees, and enhanced member services. This robust net worth positions us well within our industry, giving you confidence in our ability to manage your funds wisely.
Supporting Your Financial Goals
We understand that every member has unique financial goals. With $2,631 in used auto loans and $140,836,664 in total loans and leases, our lending capacity supports members' financial aspirations across various sectors. Whether you're looking to buy a car or fund a personal project, we're here to help.
