Featured Savings Rates
Featured Accounts

Straits Area Federal Credit Union

Popular Accounts at this Credit Union

APYACCOUNT TYPEACCOUNT NAME
0.65%1-year CD1 Year CD
0.50%SavingsRegular Shares
1.10%3-year CD3 Year CD

Overview / Commentary
231-627-3145
201 Locust St
Cheboygan, MI 49721

Straits Area Federal Credit Union is headquartered in Cheboygan and is the 115th largest credit union in the state of Michigan. It is also the 1,785th largest credit union in the nation. It was established in 1951 and as of December of 2015, it had grown to 31 employees and 12,383 members at 4 locations. Straits Area Federal Credit Union's savings rates are 3X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Must live or work in Cheboygan County. - See Details

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Health
B+
Additional 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 Chartered1951
Employees31
Primary Regulator
Profit Margin
Return on Assets - YTD0.58%
Return on Equity - YTD6.4%
Annual Interest Income$2.9MM
Assets and Liabilities
AssetsQ4 2015vs Q4 2014$79.6MM$72.1MM
LoansQ4 2015vs Q4 2014$36.7MM$35.7MM
DepositsQ4 2015vs Q4 2014$72.0MM$65.1MM
Equity CapitalQ4 2015vs Q4 2014$7.2MM$6.7MM
Loan Loss AllowanceQ4 2015vs Q4 2014$394.00K$289.00K
Unbacked Noncurrent LoansQ4 2015vs Q4 2014$698.00K$614.00K
Real Estate OwnedQ4 2015vs Q4 2014$233.00K$279.00K
Rates
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* 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

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.51%--IRA Account
0.50%*$50k*$999kRegular Shares
OTHER TIERS: 0.05% Up to $750 | 0.10% $750 - $1,500 | 0.15% $1,500 - $2,500 | 0.25% $2,500 - $25k | 0.35% $25k - $50k

Straits Area Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.10%$1k-3 Year CD
0.90%$1k-2 Year CD
0.65%$1k-1 Year CD
0.50%$1k-9 Month CD
0.35%$1k-6 Month CD
0.20%$1k-3 Month CD
Locations


Straits Area Federal Credit Union Locations
Branch Office6000 28th St SEGrand Rapids, MI 49546
Branch Office121 E Central AveMackinaw City, MI 49701
Branch Office217 S Huron StCheboygan, MI 49721
Branch Office6090 M 68 HwyIndian River, MI 49749-9366