Question 1

What is Centricity Credit Union?

Accepted Answer

Centricity Credit Union is a state-chartered credit union headquartered in Hermantown, Minnesota, serving nearly 22,000 members with approximately $312 million in assets. Founded in the heart of the Hermantown community in 1943, Centricity CU operates as a financial institution dedicated to the principle of people helping people. With locations in Hermantown, Duluth, and Superior (Wisconsin), the credit union serves members in St. Louis, Carlton, and Douglas Counties, providing outstanding customer service and financial education to help members thrive and build economic security for themselves and their families.

Question 2

When was Centricity Credit Union founded?

Accepted Answer

Centricity Credit Union was founded in 1943 as Hermantown Federal Credit Union. Originally established to serve members of the Duluth Homestead Association and patrons of the Hermantown Community Store, the credit union grew steadily, reaching 2,371 members by 1965.

Throughout its history, the institution maintained strong ties to the local community while expanding its membership base and service offerings. In July 2017, Hermantown Federal Credit Union officially changed its name to Centricity Credit Union. This strategic name change was designed to foster continued diversity and growth in the communities served. Despite the name change, the credit union's roots, heritage, commitment to members, and community-focused mission have remained unchanged.

Question 3

Where is Centricity Credit Union headquartered?

Accepted Answer

Centricity Credit Union is headquartered at 4477 LaVaque Road in Hermantown, Minnesota 55811. This location serves as the central hub for the credit union's operations across the region.

Question 4

Where does Centricity Credit Union operate?

Accepted Answer

Centricity Credit Union operates branch locations in Hermantown and Duluth, Minnesota, as well as Superior, Wisconsin. The credit union serves members in St. Louis, Carlton, and Douglas Counties, providing convenient access to financial services throughout the region.

Branch hours typically include Monday through Friday from 8:30 AM to 5:00 PM, with drive-through services available Monday through Friday from 8:00 AM to 5:30 PM and Saturday from 8:00 AM to 12:00 PM. Membership is available to individuals who live, work, worship, attend school, or have business operations within the credit union's designated service area.

Question 5

What services does Centricity Credit Union offer?

Accepted Answer

Centricity Credit Union offers a comprehensive suite of financial products and services tailored to meet diverse member needs. Signature products include free Kasasa® checking accounts that reward members for everyday banking activities, fully protected loan packages, and competitive home mortgage loans.

Lending services include personal loans, title loans, auto loans, home mortgages, home equity products, and the 2025 Holiday Loan Special designed to help with gift shopping, family travel, and winter expenses. Deposit products feature checking accounts, savings accounts, money market accounts, and certificates of deposit. The credit union provides robust digital banking capabilities including online banking, mobile banking, mobile deposit, bill payment, account transfers, and e-statements. Additional services include credit cards (Kasasa® Rewards Visa), financial planning resources, loan payment management, and money-saving tools to help members achieve their financial goals.

Question 6

What makes Centricity Credit Union unique?

Accepted Answer

Centricity Credit Union distinguishes itself through its industry-leading Kasasa® checking and rewards programs, which provide tangible benefits to members for their everyday banking activities. The credit union demonstrates exceptional growth, with impressive 4-quarter increases in members (28.2%), assets (27.2%), loans (38.4%), and deposits (32.8%), reflecting strong community trust and engagement.

As a designated low-income credit union, Centricity CU is committed to serving underserved populations and providing accessible financial services. The institution emphasizes financial education, helping members understand their debt, build credit, and plan for long-term financial security. Centricity CU maintains deep community connections spanning over 80 years, balancing modern innovation with traditional values of member service and support. The credit union's name reflects its central role in the communities it serves, positioning members at the center of all decisions and operations.

Question 7

What type of financial institution is Centricity Credit Union?

Accepted Answer

Centricity Credit Union is a state-chartered credit union operating under charter number 68685 and regulated by state authorities and the NCUA (National Credit Union Administration). As a not-for-profit financial cooperative, the credit union is owned by its members who pool their resources to provide affordable financial services to one another.

The institution operates with a community charter, making membership available to individuals and businesses within St. Louis, Carlton, and Douglas Counties. Centricity Credit Union is federally insured by the NCUA, ensuring the safety and security of member deposits. The credit union maintains a strong capital position and demonstrates solid financial performance, allowing it to continue serving members with competitive rates and quality service for generations to come.

Centricity Credit Union

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About Centricity Credit Union in the United States