Northwoods Credit Union
TO BE THE TRUSTED FINANCIAL PARTNER FOR OUR MEMBERS.
Financial Overview
From 2023 IRS Form 990-PF · View filing
Total Assets
$172.7M
+6.3% YoY
Revenue
$12.0M
+5.2% YoY
Net Investment Income
$514K
+239.0% YoY
Expenses
$11.9M
+22.8% YoY
About Northwoods Credit Union
Based on IRS filings
Northwoods Credit Union is a nonprofit organization, based in CLOQUET, MN. IRS filing data is available from 2020 through 2023. As of 2023, the organization holds $172.7M in total assets. Net investment income was $514K.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $172,709,574 | $162,399,307 | $158,800,321 |
| Revenue | $11,960,002 | $11,374,020 | $10,013,963 |
| Expenses | $11,930,660 | $9,715,764 | $8,738,581 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $513,970 | $151,593 | $435,494 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 0 recipients in 2023
Grant Size Distribution
1 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2023 IRS filing
From 2023 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| JEFFREY KLETSCHER | CHAIRPERSON | 1.86 | $2,807 |
| LARRY CHAMPEAUX | VICE CHAIRPERSON | 1.04 | $1,745 |
| CHRISTINE NIELSON-RINGAT | SECRETARY | 1.16 | $1,938 |
| NATHAN MANNER | DIRECTOR | 0.94 | $1,545 |
| LISA FOLLETT-POLLAK | DIRECTOR | 0.72 | $1,244 |
| DEBRA J LARSON | DIRECTOR | 0.87 | $1,511 |
| KASEY OLSON | DIRECTOR (THRU 02/2023) | 0.38 | $210 |
| DARREN JUNTUNEN | DIRECTOR | 0.63 | $1,120 |
| TERRY BURN | SVP/CHIEF LENDING OFFICER | 40 | $140,481 |
| DOUG WOLF | PRESIDENT/CEO | 40 | $182,717 |
| MATTHEW FERRIN | SVP/CHIEF FINANCIAL OFFICER | 40 | $143,024 |
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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