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.”
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May 2026
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.
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