A refinance lender
Refinancing made up 66.0% of its loans in 2025, and purchases 29.8%. Its typical loan was $85,000, against $95,000 at similar credit unions (those making between half and twice as many loans). All its loans were conventional.
Applications / Mortgage Analytics / Lenders / Minnesota / North Star Credit Union
North Star Credit Union
Cook, MN · Credit union · NCUA · $112 million assets · 47 loans in 2025
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47
loans originated, 2025
59
applications, 2025
1
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
North Star Credit Union, a small Minnesota lender around Duluth, mostly refinances and lends more to poorer borrowers than similar credit unions do.
More loans to poorer borrowers
Low- and moderate-income (LMI) borrowers took 41.3% of its loans, up from 19.2% a year earlier and against 30.9% at peers, higher than at about three in four. Its share in LMI neighborhoods rose too, to 21.3% from 10.5%.
Losing share in Duluth
It has lent in Duluth since its first report in 2018 and ranks 51 of 318 there. Its share fell to 0.4% from 0.6%; North Shore Bank of Commerce leads. Its loans fell 18%, to 47, while similar credit unions grew 4%. With so few loans, a handful fewer can explain the fall in share.
Well off its peak
It made 85 loans in 2020 and 82 in 2022, against 47 in 2025. All its lending is in Minnesota, in one metro and three counties.
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
47 loans in 2025, against a peak of 85 in 2020.
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. North Star Credit Union took 59 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
66.0% of its 2025 loans were refinance loans; all were conventional loans.
Refinance 66.0% · Purchase 29.8% · Home improvement 4.3%
Conventional 100.0% · of 47 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
1 state, 1 metro, 3 counties
| State | Loans | Share |
|---|---|---|
| Minnesota | 47 | 100.0% |
Largest metro areas, 2025
Loans originated
| Metro area | Loans |
|---|---|
| Duluth | 39 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300XDIQEEL7H1YU47 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 432094 | 2018–2023 |
Established 1 January 1939. Reported under HMDA 2018-2025.
Mergers, name changes, data editions and corrections: North Star Credit Union's data.
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