North Shore Federal Credit Union Review

North Shore Federal Credit Union is my focus here for review. We’ll be looking at who they are, eligibility, and what they have to offer. Along with that, I’ll give some thoughts on where they stand compared to other similar financial institutions.

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About Them

This Minnesota CU stands on seven solid values. Those are resourcefulness, individuality, privacy, collaboration, trust, respect, and adventure. This sounds like it’d be a fun place to store my money if I was eligible for membership.

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They have both a supervisory committee and a board of directors. The supervisory members as of this writing are Peggy Osmundson (Chair), Michele Fenstad, Maria Strand, and Nancy Viola.

The board members as of this writing are Jim Lukken, Judy Motschenbacher, Ethan Casady, Ken Tuorila, Roger Kegler, and Keck Melby.

Membership Eligibility At North Shore Federal Credit Union

In order to become a member here, you need to fit a certain criteria. That’s either living, working, worshiping, conducting business, or attending school in their defined geographies.

Those locations are either Lake, Cook, or Southern St. Louis counties in Minnesota. If you have immediate family that belongs, you can also qualify through them. Even if you move out of the geographical area, you can still stay a member at North Shore Federal Credit Union.

Their Offerings

You can choose from a variety of financial products at North Shore Federal Credit Union. They offer savings, checking, investment products, and loans.

There’s also business products, so, even if you run a business as small as that snow cone stand at the Duluth harbor, there’s a place for your money.

There are three types of checking accounts – eVenture Checking, Business Checking, and Community Advantage. eVenture is the personal account option and the community one is specially designed for non-profits and community groups.

Savings Accounts At North Shore Federal Credit Union

They have four different kinds of savings accounts here. You can choose from a share savings account, a holiday savings account or a health savings account.

Your kids (or you if you’re a kid reading this) have the option of a youth savings account. All it takes to become a member is a minimum $10 deposit into a Share Account with them.

There’s no fees or additional minimum balance requirements.

Patronage Rewards At North Shore Federal Credit Union

Starting in 1996, North Shore has offered a reward program that pays their members big time. According to their site, over $4.6 million has been returned to members’ Patronage Rewards accounts.

This is actually really cool. Your rewards are calculated based on how much you save and borrow, then, paid at the end of the year. Their Patronage Rewards accounts are earning 10% APY at the time of this writing, which is insanely good compared to anywhere else.


You can also choose from a lot of different loan products at North Shore Federal Credit Union. They have mortgages, home equity, vehicle loans, recreational loans, personal loans, student loans, and student loan refinancing options.

Their rates as of this writing are competitive, too. For example: fixed rate first mortgages are as low as 2.25% APR, home equity loans are as low as 3.99% APR, and vehicle loans are as low as 2.49% APR.

Final Thoughts

If you live in the geography to qualify for going here, it’s a safe bet that you won’t be disappointed. I didn’t mention this yet either, but they have a really awesome website.

Not just the smooth user experience, but, the whole Northern Minnesota theme they have would really make you feel at home if you’re from around there.

Their competitive suite of products and rates make North Shore a solid choice in credit unions.

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*All information in this article was current at the time of this writing, however, it could change without notice. We do our best to keep these updated, however, there is no guarantee you will find the same information on the CU’s website or at the time of opening an account with them.

*This site is not affiliated with the Credit Union mentioned in this article.