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    • Use the form below to contact us directly for general questions or to provide feedback. Please do not include member numbers or account numbers. If your need is urgent, we invite you to contact us by phone at: 800-296-8871 or stop by any of our office locations.

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    Members Cooperative Credit Union Go to main content

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    From eight members to fifty-three thousand. A few good people can empower generations.

    In the spring of 1936, a group of eight people from the Cloquet area - seven men and one woman - envisioned a better way of getting the financial services that they and their community needed. They became the charter members of Cloquet Co-op Credit Union. Each person deposited $5 and formed the organization with just $40 in capital.

    In the decades that followed, MCCU grew, adding branches and expanding into Duluth, McGregor and Aitkin. In 2015, we merged with Lake State Credit Union, integrating our Moose Lake, Sandstone, North Branch and Isanti locations. In 2017, we merged with Lakes Area Federal Credit Union, bringing us into Grand Rapids. Most recently, in February of 2018, we expanded into the Brainerd Lakes Area, opening a branch in Baxter.

    Today, our family has grown across the state, to tens of thousands of members. Their confidence and continued support have made MCCU the largest credit union based north of the Twin Cities. We’re proud of our growth, but we’re more proud to continue the community-focused legacy our founders envisioned, and to empower new generations of members and their families.

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    We’re driven to serve a higher purpose. Find out why banking is fundamentally different at our credit union.

    • Not-for-profit. MCCU is a not-for-profit financial cooperative. We exist to serve our members, not to make a profit for private shareholders. Our earnings are returned to our members in the form of lower loan rates, higher interest on deposits, and lower fees.

    • Taxation. Credit unions pay payroll, sales, and property taxes. Congress exempts credit unions from federal income taxes. The Credit Union Membership Access Act states that:

              “Credit unions, unlike many other participants in the financial services market, are exempt from Federal and most   
               State taxes because credit unions are member-owned, democratically operated, not-for- profit organizations   
               generally managed by volunteer boards of directors and because they have the specified mission of meeting the  
               credit and savings needs of consumers, especially persons of modest means."

    • Ownership. Credit unions are financial democracy in action. Each MCCU member has equal ownership through their membership share, regardless of how much money they have deposited at the institution. Every customer is both a member and an owner.

    • Board of Directors. MCCU is governed by a board of directors, elected by and from our membership.

    • Membership Eligibility. Federal statute demands that credit unions cannot serve the general public. People qualify for membership through affiliations such as living, working, or attending school or a place of worship within MCCU’s geographic field of membership area. (Other criteria may qualify.)

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    NCUAEqual Housing Lender

    This credit union is federally insured by the National Credit Union Administration. We do business in accordance with the federal Fair Housing Act and Equal Credit Opportunity Act.

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