NonprofitsNorthwoods Credit Union

Northwoods Credit Union

CLOQUET, MN

Total revenue

$13.5M

Total expenses

$12.3M

Net assets

$14.6M

Grants received

EIN

410653148

Tax year

2024

Mission

Provide credit union services to members.

Programs

1 program

8,773 outstanding member loans totaling $118,822,050 on december 31, 2024 - granted 3,308 loans to members totaling $57,640,893 in 2024 - members paid over $8,716,286 in loan interest throughout 2024.

Financials

FY 2024

Revenue

Contributions & grants
Program service revenue$12.4M
Investment income$989K
Other revenue$61K
Total revenue$13.5M

Expenses

Grants paid$33K
Salaries & benefits$5.3M
Fundraising
Other expenses$5.1M
Total expenses$12.3M
Total assets$175.9M
Net assets$14.6M

People

11 listed

NameRoleCompensation

DOUG WOLF

PRESIDENT/CEO

Board

$181K

40 hrs/wk

TERRY BURN

SVP/CHIEF LENDING OFFICER

Board

$176K

40 hrs/wk

MATTHEW FERRIN

SVP/CFO

Board

$175K

40 hrs/wk

JEFFREY KLETSCHER

CHAIRPERSON

Board

$5K

1.89 hrs/wk

CHRISTINE NIELSON-RINGAT

SECRETARY

Board

$3K

1.14 hrs/wk

LARRY CHAMPEAUX

VICE CHAIRPERSON

Board

$3K

1.1 hrs/wk

DEBRA J LARSON

DIRECTOR

Board

$2K

0.9 hrs/wk

DARREN JUNTUNEN

DIRECTOR

Board

$2K

0.86 hrs/wk

NATHAN MANNER

DIRECTOR

Board

$2K

0.8 hrs/wk

LISA FOLLETT-POLLAK

DIRECTOR

Board

$2K

0.73 hrs/wk

STEVEN MCCONNELL

SVP/CTO

Staff

$114K

40 hrs/wk

Independent contractors

TECH BASED SOLUTIONS LLC

COMPUTER/FIREWALL/TECHNICAL SUPPORT SERV

$182K

SINNOTT GROUP INC

BLACKTOP REPAIR/REPLACEMENT

$170K

Details

EIN410653148
Subsection14
Ruling date1944-09
Formed1936
Employees63
Volunteers10