Straits Area Federal Credit Union
LOCATIONS
4
View locations
HEALTH RATING
B
View health report
CURRENT TOP RATE
1.51% APY
IRA Account
View all rates
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | ACCOUNT NAME |
|---|---|---|
| 0.50% | Savings | Regular Shares 1.20% - Ally Bank Online Savings Account |
| 0.40% | 1-year CD | 1 Year CD 1.50% - Ally Bank No Penalty 11-Month CD |
| 0.90% | 3-year CD | 3 Year CD 1.60% - Ally Bank High Yield 3 Year CD |
Overview / Commentary
Straits Area Federal Credit Union is headquartered in Cheboygan and is the 112th largest credit union in the state of Michigan. It is also the 1,748th largest credit union in the nation. It was established in 1951 and as of June of 2017, it had grown to 30 employees and 12,694 members at 4 locations. Straits Area Federal Credit Union has a B health rating.
Field of Membership Restrictions
Must live or work in Cheboygan County.
See current membership details
Health
B
Data as of Q2 2017
Learn why bank health mattersAdditional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. Straits Area Federal Credit Union has a relatively low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 7428 |
| Year Chartered | 1951 |
| Employees | 30 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.54% |
| Return on Equity - YTD | 6.02% |
| Annual Interest Income | $1.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2017vs Q2 2016 | $86.8MM$82.6MM |
| Loans | Q2 2017vs Q2 2016 | $37.5MM$36.8MM |
| Deposits | Q2 2017vs Q2 2016 | $78.3MM$74.4MM |
| Equity Capital | Q2 2017vs Q2 2016 | $7.8MM$7.7MM |
| Loan Loss Allowance | Q2 2017vs Q2 2016 | $364.00K$372.00K |
| Unbacked Noncurrent Loans | Q2 2017vs Q2 2016 | $800.00K$605.00K |
| Real Estate Owned | Q2 2017vs Q2 2016 | $246.00K$312.00K |
Report an Issue
Always verify rates and promotions with the bank or credit union. We are not Straits Area Federal Credit Union; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
Straits Area Federal Credit Union Savings Account Rates
Straits Area Federal Credit Union CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.90% | $1k | - | 3 Year CD | |
| 0.60% | $1k | - | 2 Year CD | |
| 0.40% | $1k | - | 1 Year CD | |
| 0.25% | $1k | - | 9 Month CD | |
| 0.20% | $1k | - | 6 Month CD |
Locations
| Straits Area Federal Credit Union Locations | ||
|---|---|---|
| Branch Office | 6000 28th St SE | Grand Rapids, MI 49546 |
| Branch Office | 121 E Central Ave | Mackinaw City, MI 49701 |
| Branch Office | 201 Locust St | Cheboygan, MI 49721 |
| Branch Office | 6090 M 68 Hwy | Indian River, MI 49749-9366 |