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Our Story

Minnesota Power Employees Credit Union (MPECU) is a member-owned, not-for-profit financial cooperative, whose primary mission is serving our member/owners.

MPECU was founded in 1933. During our first 61 years, we only served the employees and family members of Minnesota Power. We’ve since opened up to all of ALLETE’s business as well as additional employer groups in the Northland.

To serve our downtown member/owners, we have our Main Office located inside the ALLETE/Minnesota Power’s General Office Building at 30 W. Superior Street and a branch inside maurice’s headquarters at 425 W. Superior Street. To serve our member/owners outside the downtown area we also have a branch at 3308 W. Arrowhead Road.

MPECU is state chartered, governed through the Minnesota Department of Commerce and federally insured and regulated by National Credit Union Administration (NCUA).

Throughout the years and the changes, one thing remains:

We are member owned and member driven. The purpose of Minnesota Power Employees Credit Union is to provide member/owners with convenient, efficient, high-quality financial service while maintaining competitive, fair rates, and fiscal soundness.