About Us

There's a reason our rates and fees are better.

What sets a credit union apart from other financial institutions?

The key difference between traditional banks and credit unions is that while banks have private stockholders or investors, credit unions are not-for-profit. Because of this, profits from banks go back to the stockholders, while profits from credit unions are reinvested into the credit union to directly benefit the members.

At Breakwater Federal Credit Union, we are committed to providing you with positive financial experiences. Every time you walk through our doors, you will find a professional, knowledgeable staff ready to assist you with your banking and financing needs.

We value our members above all else.

Not only do our members receive quarterly dividends, but profits made by Breakwater Federal Credit Union are returned back to members in the form of reduced fees and lower loan rates. Member satisfaction is our ultimate priority.

Our History

1952: Breakwater Federal Credit Union (then known as the Michigan Tech Employees FCU), was founded by employees of the Michigan School of Mining and Technology (now Michigan Technological University). The intention of the credit union was to provide school employees with access to loans that have reasonable interest rates.

1954: Our first annual business meeting was held in the Memorial Union Building on campus.

1989: We became computerized.

1993: Our Board of Directors made the decision to construct a new building off campus, and they decided to build it up on the hill near the fire station and Houghton High School.

1994: We moved into our new building at 700 E Sharon Avenue, where we are located to this day.

2000: We merged with Pelkie Copper Country Community Credit Union, expanding our membership to include the communities of Houghton County, Keweenaw County, and Baraga Township.

2018: We officially switched to a community charter so we could serve the entire Houghton-Keweenaw-Baraga County area.

2022: We changed our name to Breakwater Federal Credit Union to better serve our community and their needs

Financial Information

Breakwater Federal Credit Union ended 2023 with approximately 10,400 members and $124 million in assets

Mission Statement

Breakwater Federal Credit Union is dedicated to positively impacting those we serve by building lifelong relationships, one member at a time.

Vision Statement

To empower our members and community by providing valuable financial resources and exceptional service.