Featured Savings Rates
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Straits Area Federal Credit Union

Popular Accounts at this Credit Union

0.50%SavingsRegular Shares
0.40%1-year CD1 Year CD
0.90%3-year CD3 Year CD

Overview / Commentary
201 Locust St
Cheboygan, MI 49721

Straits Area Federal Credit Union is headquartered in Cheboygan and is the 114th largest credit union in the state of Michigan. It is also the 1,780th largest credit union in the nation. It was established in 1951 and as of March of 2016, it had grown to 30 employees and 12,366 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


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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

NCUA #7428
Year Chartered1951
Primary Regulator
Profit Margin
Return on Assets - YTD0.59%
Return on Equity - YTD6.3%
Annual Interest Income$753.00K
Assets and Liabilities
AssetsQ1 2016vs Q1 2015$81.2MM$74.5MM
LoansQ1 2016vs Q1 2015$36.4MM$34.8MM
DepositsQ1 2016vs Q1 2015$73.3MM$66.9MM
Equity CapitalQ1 2016vs Q1 2015$7.6MM$7.0MM
Loan Loss AllowanceQ1 2016vs Q1 2015$394.00K$374.00K
Unbacked Noncurrent LoansQ1 2016vs Q1 2015$307.00K$192.00K
Real Estate OwnedQ1 2016vs Q1 2015$294.00K$237.00K
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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

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

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

Straits Area Federal Credit Union Locations
Branch Office6000 28th St SEGrand Rapids, MI 49546
Branch Office121 E Central AveMackinaw City, MI 49701
Branch Office201 Locust StCheboygan, MI 49721
Branch Office6090 M 68 HwyIndian River, MI 49749-9366