Cloquet, MN 55720
It all started in the spring of 1936.
A group of eight people from the Cloquet area envisioned a better way of getting the financial services they and our community needed. These eight people, seven men and one woman, became the charter members of Cloquet Co-op Credit Union in July. Each one deposited $5 and formed the organization with just $40 in capital. Once established, new members paid an entrance fee of 25¢.
On January 1, 2001, the Cloquet Co-op Credit Union became Members Cooperative Credit Union. Our new name was chosen to additionally acknowledge our members outside the Cloquet area, who now account for over half of our membership. Today, more than 28,000 members have come together to pool over $350 million in assets. Their confidence and continued support have made Members Cooperative Credit Union the largest credit union based north of the Twin Cities. We’re proud of our growth, but we’re more proud of the fact that we continue to offer the same personal, responsive service our founders envisioned.