Question 1

What is Clearwater Credit Union?

Accepted Answer

Clearwater Credit Union is a federal credit union and Community Development Financial Institution (CDFI) headquartered in Missoula, Montana, serving members across 37 counties in Western and Central Montana. With over $1.1 billion in assets and more than 65,000 members, Clearwater is Montana's largest CDFI and the state's second-largest credit union. The institution operates on a values-based banking philosophy, prioritizing people over profit, building inclusive communities, and protecting the environment. Clearwater is one of only two U.S. credit unions invited to join the Global Alliance for Banking on Values (GABV).

Question 2

When was Clearwater Credit Union founded?

Accepted Answer

Clearwater Credit Union was founded in 1956 by eight Missoula police officers, with Herb Roehl as one of the founding members. These officers faced financial challenges as their salaries barely covered basic necessities for their families. They pooled their savings—each contributing $40—to make loans to each other at rates cheaper than local banks offered. They incorporated as Missoula Federal Credit Union (MFCU).

The credit union has grown through strategic mergers and expansions. In 1981, it merged with the University of Montana Credit Union, and in 1984, it merged with Missoula Northern Pacific Federal Credit Union. The field of membership expanded progressively: in 1992 to include all of Missoula and parts of Ravalli and Lake Counties; in 2002 to cover all of Missoula, Lake, and Ravalli counties; and in 2018 to add Beaverhead, Deer Lodge, Granite, and Silver Bow Counties.

In 2019, after 63 years, Missoula Federal Credit Union changed its name to Clearwater Credit Union to reflect its growth beyond Missoula and to emphasize its values-based approach. The name celebrates the credit union's roots with Clearwater River and Clearwater Lake in Missoula County while resonating with Montana's lakes, rivers, and streams. In 2020 and 2025, the field of membership expanded to include 37 counties across Western and Central Montana.

Question 3

Where is Clearwater Credit Union headquartered?

Accepted Answer

Clearwater Credit Union is headquartered in Missoula, Montana, at 3600 Brooks Street. The headquarters opened in 1982 after moving from its original West Pine Street location (established in 1969) and South Higgins Street offices.

Question 4

Where does Clearwater Credit Union operate?

Accepted Answer

Clearwater Credit Union operates across 37 counties in Western and Central Montana. Members include anyone who lives, works, worships, attends school, volunteers in, or participates in membership-based organizations in these counties.

The credit union maintains multiple branch locations throughout its service area, including branches in Missoula, Stevensville, Butte, Bozeman, and Great Falls. The Russell Street branch in Missoula, opened in 2008, was the first LEED-certified building in the city. The Stevensville branch, opened in 2006, was the credit union's first location outside Missoula. In 2024, Clearwater opened new branches in Bozeman and downtown Great Falls, with a permanent Great Falls location planned for late 2027. A new Uptown Butte branch opened in 2025.

Beyond physical branches, Clearwater partners with the Human Resource Development Council (HRDC), establishing an onsite office in Great Falls in 2022. Members also have access to over 5,600 shared branches nationwide and advanced digital banking services.

Question 5

What services does Clearwater Credit Union offer?

Accepted Answer

Clearwater Credit Union provides comprehensive financial services designed to serve diverse member needs. Deposit accounts include savings accounts, checking accounts, money market accounts, and certificates of deposit with competitive dividend rates.

Lending products feature auto loans, personal loans, home equity lines of credit (HELOCs), mortgages, and specialized credit builder loans designed to help members with limited or no credit history establish creditworthiness. The credit union manages over $1 billion in assets, including a substantial mortgage servicing portfolio.

Digital banking services have been significantly enhanced, with members able to conduct virtually all branch transactions through PC, tablet, or mobile devices. Services include online banking, mobile banking with mobile deposit, bill pay, fund transfers, account management, and budgeting tools. Members can bank from anywhere with internet access.

Community-focused programs include financial education classes, particularly for underserved populations including refugees. Clearwater partners with the International Rescue Committee (IRC) to provide "Understanding the U.S. Banking System" classes for refugees, helping them navigate the financial system and build credit histories.

Additional services include credit cards, wire transfers, financial counseling, and access to surcharge-free ATMs. The credit union emphasizes transparent banking practices and personalized member service.

Question 6

What makes Clearwater Credit Union unique?

Accepted Answer

Clearwater Credit Union distinguishes itself through its values-based banking approach and commitment to social impact. As Montana's largest CDFI, certified in 2014, the credit union is dedicated to serving low-income and marginalized households, providing access to essential financial services, loans, and education needed for prosperity.

In 2017, Clearwater became the second U.S. credit union invited to join the Global Alliance for Banking on Values (GABV), an international network of financial institutions committed to sustainable banking practices. As President and CEO Jack Lawson states: "Some financial institutions pursue profit and don't think so much about the outcomes and impact of the work they're doing. At Clearwater, we think and act differently. We put people before profit, help build inclusive communities, and protect the environment."

Clearwater is deeply involved in refugee resettlement, serving as the designated financial provider for refugees through partnerships with the International Rescue Committee and Soft Landing Missoula. The credit union has contributed tens of thousands of dollars in philanthropy, developed specialized financial education programs, and hired refugee employees. This work builds on Missoula's 40-year history of welcoming refugees, beginning with Hmong immigrants in 1979.

The credit union's environmental commitment is demonstrated by its LEED-certified branch and incorporation of sustainability principles into business operations. Clearwater's strategic plan emphasizes bringing values-based banking to more Montanans and building thriving, sustainable communities across the state.

Question 7

What type of financial institution is Clearwater Credit Union?

Accepted Answer

Clearwater Credit Union is a federal credit union chartered under the Federal Credit Union Act and regulated by the National Credit Union Administration (NCUA). The credit union holds charter number 11300 and provides federally insured deposits through NCUA coverage.

As a Community Development Financial Institution (CDFI), Clearwater is certified by the U.S. Department of the Treasury's CDFI Fund. This designation recognizes institutions that provide financial services in underserved markets and to underserved populations. As Montana's largest CDFI, Clearwater has a mission-driven focus on economic development, financial inclusion, and community investment.

As a member-owned financial cooperative, Clearwater operates democratically with members serving as both customers and owners. The not-for-profit structure allows the credit union to prioritize member and community needs over profit maximization. This cooperative model enables Clearwater to offer competitive rates, develop innovative programs serving marginalized populations, invest in environmental sustainability, and contribute to community development initiatives that align with its values-based mission.

Clearwater's membership in the Global Alliance for Banking on Values demonstrates its commitment to leading-edge sustainable banking practices and reinforces its role as a financial institution focused on positive social, environmental, and economic impact.

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