“Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it’s the only thing that ever has.” – Margaret Mead
In 1936, a group of eight people from the Cloquet area envisioned a better way of getting the financial services they and their community needed. These eight people, seven men and one woman, became the charter members of the Cloquet Co-op Credit Union, in July of that year. Each person deposited $5, forming the organization with just $40 in capital. Once the credit union was established, new members paid an entrance fee of 25¢.
On January 1, 2001, the Cloquet Co-op Credit Union became Members Cooperative Credit Union. The new name was chosen to acknowledge their members outside the Cloquet area, who now account for over half of their membership. Today, more than 28,000 members have come together to pool over $375 million in assets. Their confidence and continued support have made MCCU the largest credit union based north of the Twin Cities. The organization is proud of the growth, but more proud of the fact that they continue to offer the same personal, community-oriented service that the founders envisioned. They’re not for profit; but rather, for people – a perfect fit to bring you the 5th annual Twin Ports Bridge Festival!
Over the years, MCCU has grown along with their members, and are proud to offer superior local service, smart financial products and dynamic education programs to the Duluth, Cloquet, Aitkin, and McGregor communities. They honor the strength of their cooperative membership and work hard to serve the member/owners with more locations than any other credit union in the region, including two new locations in Duluth. Check them out and learn about the power of membership with MCCU. For more information on Members, visit membersccu.org or call 218-625-8500.