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24 South River Street PO Box 1058 Cook MN.

7 Reasons to Choose a Credit Union Over a Bank


7 Reasons to Choose a Credit Union Over a Bank

When it comes to your finances it’s important to know and trust where you are housing your money. Are you aware of how credit unions operate? If not, stick around and find out. You may come to learn what you’ve been missing.

Save money with Credit Unions

  1. Credit Unions are not-for-profit organizations that exist solely to serve their members rather than to maximize corporate profits. They operate similarly to banks (by making loans and offering checking/saving options, etc.) but are not trying to earn a profit off of you.
  2. Credit Unions are owned and operated by their members (people in your community) who care about the wellness of the community and are involved in community causes.
  3. All the Credit Union’s resources are returned to their members/owners in the form of lower fees. Big banks funnel these profits into executive compensation packages and expensive national advertising budgets.
  4. Been turned down by all the major banks? Try your local credit union. Its borrowing standards are likely to be more flexible, and they may be willing to work with you. Also, Credit Unions’ interest rates on credit cards and loans are lower compared to big banks.
  5. Credit Unions offer free checking account (truly free, with no hidden fees). We even have interest-bearing checking accounts on balances more than $200.
  6. Free overdraft protection. We’ll leave it at that.
  7. For more than 20 years, customer satisfaction with credit unions has consistently rated higher than big banks.


Joining our credit union is easy. It only takes a $10 deposit to get you started. You can enroll below or stop by our branch. Once you join the North Star Credit Union family, you are a member for life.


North Star Credit Union membership is open to:

  • Lake Country Power: If you receive your electric power from Lake Country Power
  • District 2142: Individuals who live, work, volunteer, worship, or attend school in St. Louis County School District 2142
  • Relative: Individuals who have a relative who has an existing account with North Star Credit Union
  • Employees: Employees of North Star Credit Union
  • Geographic Area: Persons who reside or work in the geographical area bounded on the north by Minnesota Highway 1—on the east by the Itasca-St. Louis County Line—on the south by the boundary of Township Range 54—and on the west by the boundary Township Range 24 in the State of Minnesota.

If you have any questions about becoming a member, just give us a call at 218-666-5940, email us at