Credit Union 1, Alaska's only state-chartered credit union, is excited to announce plans to open a location in Kotzebue, Alaska, later this year. This will be the first credit union branch north of the Arctic Circle (as far as we know!).
Located on the edge of the Chukchi Sea in far Northwest Alaska, Kotzebue is an isolated but thriving seaside community. More than 75% of Kotzebue residents are Indigenous people of Inupiat descent, and Alaska Native culture permeates the community. With a population of roughly 3,000 residents, Kotzebue is one of the larger “hub” communities in rural Alaska that provides services to smaller, even more remote villages across the vast state.
Despite its regional stature, Kotzebue, like many rural Alaskan communities, has limited financial service options and access. Currently, only one institution has a physical location there. CU1 is committed to changing that limitation across the state through branch, technology, and service expansions built with Alaskan members in mind.
“We couldn’t be more thrilled to be able to offer our services in a new community like Kotzebue. As a hub for much of Northwest Alaska, the branch will enable Alaskans in nearby villages to access financial services that may not have been available to them before,” said CU1 President/CEO Mark Burgess. “We can’t wait to meet many new people and make new friends, but most importantly, earn the trust of the people of Kotzebue and become a positive member of the community.”
This announcement marks the second new CU1 location scheduled to open in late 2024 as CU1 celebrated the groundbreaking for their Wasilla, Alaska branch last year. With the upcoming openings of the Kotzebue and Wasilla branches, CU1 will have 14 locations across the 49th state. CU1’s strategy for location growth, service innovations and member benefits are all focused on meeting the specific needs of Alaskans who span a state so vast it has its own time zone.
“This is a big year for CU1, but not only from a location expansion standpoint. We’ve added new member benefits like free access to Greenlight, giving members new means to manage family finances and an easy and engaging way to give their kids a stronger financial foundation. We are also launching a small-dollar loan program via QCash that will offer members a safety net, helping them to avoid the pitfalls of high-cost, short-term borrowing,” said Kerry Youngren, CU1’s Vice President of Marketing and Communications.
The Kotzebue Branch would not be possible without CU1’s community partner, Alaska Commercial Co. (AC), as Credit Union 1 will be conveniently located inside the new AC store being built in the heart of town. AC stores are iconic, valued suppliers of essential goods in many remote Alaska communities.
As Credit Union 1 continues to grow in the ways and places it serves Alaska, the Kotzebue Branch is tentatively scheduled to open in late 2024, in tandem with the opening of the new AC Store location. Updates on this new location will be shared on the credit union’s website at www.cu1.org/news, and via social media.