Kotzebue Branch Puts Credit Union 1 North of the Arctic Circle
Photo Credit: Credit Union 1
A grand opening in Kotzebue celebrates the arrival of the first credit union north of the Arctic Circle. As far as Credit Union 1 (CU1) has been able to find, no other financial cooperative has a branch this close to the North Pole. Wells Fargo bank has branches in Kotzebue and Utqiaġvik, but this part of the globe had no state or federally chartered credit unions until now.
The ceremony on Friday marks the opening of CU1’s fourteenth branch, located inside Kotzebue’s new Alaska Commercial Company store.
One Down, Two to Go
CU1 is still building its thirteenth branch in Wasilla and just announced its fifteenth to be located in Skagway.
“We are honored to join the Kotzebue community and look forward to earning the trust of its residents,” says CU1 President and CEO Mark Burgess. “As a hub for much of Northwest Alaska, this branch will provide financial services that empower individuals and families while fostering community growth.”
Current Issue
December 2025
The ceremonial ribbon cutting coincides with a celebratory donation to the local Boys and Girls Club of Kotzebue. CU1 says the expansion to Kotzebue should address a gap in financial services by offering technology-driven solutions that make banking more affordable and accessible.
The grand opening in Kotzebue is part of a larger expansion strategy for CU1. The credit union recently introduced Interactive Teller Machines in statewide branches and the UAA Student Union, as well as expanded member benefits like free access to Greenlight, a debit card and money app for kids and teens, and a small-dollar loan program designed to provide members with a financial safety net.
Formed in 1952 as Anchorage Teachers Federal Credit Union and enlarged through a series of mergers, CU1 operates a dozen branches from Ketchikan to Nome as the only state-chartered credit union in Alaska.
Anchorage Chamber Presents 68th Annual Gold Pan Awards
At a Mardi Gras masquerade, the Anchorage Chamber of Commerce showered the “Brilliance of Bourbon Street” upon winners who’ve shown business and entrepreneurial excellence.
Operator Overhaul for Ketchikan Shipyard: AIDEA Puts JAG at the Helm
The Alaska Industrial Development and Export Authority welcomes JAG Marine Group to replace Vigor Alaska as operator of the Ketchikan Shipyard.
State Nets $17.5M in North Slope Lease Sale
Eleven companies bid $17.5 million for 287 tracts, covering 519,000 acres, for the largest state North Slope lease sale in a decade.
Also in this issue: building a company and planning an exit strategy; several ESOPs, and UAS’ foray into a new model for tuition. Enjoy!