MTEFCU is now Breakwater Federal Credit Union

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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 FCU, 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 BFCU are returned back to members in the form of reduced fees and lower loan rates.  Member satisfaction is our ultimate priority.


Breakwater Federal Credit Union building
Lilly helping Taylor

Our History

1952: Breakwater FCU (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 (MUB) 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 official 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

The BFCU ended 2021 with approximately 10,000 members and $122 million in assets.

Vision Statement

To be a credit union people want to be a part of.
Closure notice

We will be closed Thursday, July 4 in observance of Independence Day and apologize for any inconvenience to our members.

Remember, you can perform most of your banking business via our mobile app or the two 24/7 deposit ATMs in our drive-thru!