With winter right around the corner, we’ll soon be thinking about all the ways we can stay warm when temperatures drop. This led the staff at CU Times to wonder … which credit unions are located in the country’s coldest cities?
Real estate platform Redfin posted a blog in April of this year listing the top 10 coldest cities in the U.S. by temperature. After taking a look at the blog, we researched which credit unions are headquartered in those cities, and subsequently which of those credit unions run the highest number of locations on those cities, according to the latest data from the NCUA.
Of the credit unions that are headquartered in the top 10 coldest cities on Redfin’s list, these 10 have the highest number of branches operating in those cities. We should note that there are currently no active credit unions headquartered in Dickinson, N.D., the eighth coldest city, or Moorhead, Minn., the 10th coldest city.
Spirit of Alaska Credit Union
This Fairbanks, Alaska-based credit union, which operates four branches in the city, wins the prize for the coldest credit union in the country, based on the above criteria. As the coldest city in the U.S., Fairbanks has an average annual temperature of 28.3°F and average winter temperature of -4.1°F. The record lowest temperature was –66°F in 1934.
Spirit of Alaska has $195 million in assets and serves just under 10,000 members in interior Alaska.
Global Credit Union
The second coldest city in the U.S. is Anchorage, Alaska, and the $13 billion, 790,000-member Global CU operates the highest number of locations there, at 11.
The average annual temperature in Anchorage is 37.6°F and the average winter temperature is 19.2°F. Back in 1947, Anchorage hit a record low of -38°F.
University Federal Credit Union
The $44.9 million, 3,500-member University FCU is based in the third coldest city – Grand Forks, N.D. Notably, there are six credit unions headquartered in Grand Forks, but University FCU covers the most square footage in the city by operating two locations, including one on the University of North Dakota campus, while each of the remaining five only operate one.
The average annual temperature in Grand Forks is 39.8°F, and the average winter temperature is 9.9°F. A record low of -43°F was registered in both 1912 and 2004.
Northwestern Energy Employees Credit Union
The honor of fourth coldest credit union goes to Northwestern Energy Employees CU, which operates two branches in the fourth coldest city, Butte, Mont. The $33.7 million credit union serves nearly 3,000 members.
In Butte, the average annual temperature is 40.1°F and the average winter temperature is 20.4°F. It hit a record low of -52°F back in 1983.
Embers Credit Union
The fifth coldest city is Marquette, Mich., located in the state’s upper peninsula, where the average annual temperature is 40.4°F, the average winter temperature is 16.8°F and the record lowest temperature was -33°F way back in 1861.
The credit union with the largest physical presence in Marquette is the $568 million, 32,000-member Embers, which operates seven branches in the city.
Harbor Pointe Credit Union, Members Cooperative Credit Union & Minnesota Power Employees Credit Union
For the title of sixth-coldest credit union, we have a three-way tie: Harbor Pointe ($148 million, 8,037 members), Members Cooperative ($1.1 billion, 57,629 members) and Minnesota Power Employees CU ($157 million, 4,990 members) each run three locations in the sixth coldest city of Duluth, Minn.
In Duluth, located on the shore of Lake Superior, the average annual temperature is 40.6°F and the average winter temperature is 14.6°F. The lowest temperature recorded was -41°F, in 1885.
Western Cooperative Credit Union
Taking the spot of seventh coldest credit union is the $493 million, 18,000-member Western Cooperative – it’s the only credit union headquartered in the seventh coldest city of Williston, N.D., and operates two of its eight branches there.
Williston’s average annual temperature is 41.7°F and its average winter temperature is 14.6°F. The record low was -50°F in 1936.
True North Federal Credit Union
Finally, filling the spot of the eighth coldest credit union is the $234 million, 13,000-member True North. It’s the only credit union headquartered in the ninth coldest city of Juneau, Alaska, running two of its three locations there.
While not as frigid as Fairbanks or Anchorage, Juneau is quite chilly with an average annual temperature of 42.1°F and average winter temperature of 29.6°F. A record low of -22°F was reached in both 1968 and 1972.
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