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Filing year 2024

NORTHWOODS CREDIT UNION

Cloquet, Minnesota·EIN 41-0653148·501(c)(14)
Total revenue
$13.5M
Total assets
$175.9M
Total expenses
$12.3M
Reported officers
11
Mission

TO BE THE TRUSTED FINANCIAL PARTNER FOR OUR MEMBERS.

Executive compensation, broken down

Form 990 · Part VII & Schedule J · 11 reported individuals · Filing year 2024

Percentile bands compare each position's total pay with the same role at nonprofits nationwide, across all sectors.

President/ceo
75th to 90th percentile
$219k
$236k
Base
$166k
Bonus
$14k
Other
$850
Benefits
$28k
Svp/chief Lending Officer
Officer (Unspecified)
$219k
$236k
Base
$142k
Bonus
$10k
Other
$24k
Benefits
$34k
Svp/cfo
Officer (Unspecified)
$210k
$226k
Base
$142k
Bonus
$10k
Other
$23k
Benefits
$35k
Svp/cto
Highest Compensated Employee
10th to 25th percentile
$122k
$131k
Chairperson
Board Chair
10th to 25th percentile
$5k
$5k
Secretary
Officer (Unspecified)
$3k
$3k
Vice Chairperson
Board Vice Chair
10th to 25th percentile
$3k
$3k
Director
Board Member
10th to 25th percentile
$2k
$3k
Director
Board Member
10th to 25th percentile
$2k
$2k
Director
Board Member
10th to 25th percentile
$2k
$2k
Director
Board Member
10th to 25th percentile
$2k
$2k

Teal figures restate each filed amount in 2026 dollars.

Estimated with BLS CPI-U for the Midwest region, restating filed pay into May 2026 dollars. A restatement of past pay, not current or projected pay.

Held steady
from 2023

From $219k in 2023 to $219k in 2024.

$219k
2023
$219k
2024
In today's dollarsEst.
Down 2% in real terms$242k to $236k

Estimated with BLS CPI-U for the Midwest region, restating filed pay into May 2026 dollars. A restatement of past pay, not current or projected pay.

Pay for the position

Chief Executive Officer pay held roughly steady from 2023 to 2024, while revenue rose 13%.

$219k in 2023 to $219k in 2024.
  • Board Chair pay rose 64% from 2023 to 2024.
  • Board Vice Chair pay rose 62% from 2023 to 2024.

Pay for the position itself, not any one person. The officeholder may have changed between 2023 and 2024.

Highest reported compensation in each year. Volunteer board members and partial-year payouts are filtered out.
Financial trend

Revenue and expenses over time

NORTHWOODS CREDIT UNION reported revenue and expenses across 2 filing years.

RevenueExpenses
$12M
$11.9M
2023
$13.5M
$12.3M
2024
Total revenue and total expenses from IRS Form 990 filings.
FAQ

Common questions about NORTHWOODS CREDIT UNION

What does the Chief Executive Officer of NORTHWOODS CREDIT UNION earn?

In 2024, the Chief Executive Officer of NORTHWOODS CREDIT UNION received $219,316 in total compensation. This pay is in the top quarter for Chief Executive Officer roles among nonprofits nationwide, across all sectors, though not the top 10% of comparable filings. Based on IRS Form 990 data.

How does Chief Executive Officer pay at NORTHWOODS CREDIT UNION compare with similar nonprofits?

Compared with the same role at nonprofits nationwide, across all sectors, the 2024 pay of the Chief Executive Officer at NORTHWOODS CREDIT UNION falls between the 75th and 90th percentiles.

What are NORTHWOODS CREDIT UNION's revenue and expenses?

In 2024, NORTHWOODS CREDIT UNION reported $13.5M in total revenue and $12.3M in total expenses on its IRS Form 990.

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