Straits Area Federal Credit Union

Popular Accounts at this Credit Union

APY	ACCOUNT TYPE	ACCOUNT NAME
0.50%	Savings	Regular Shares 1.60% - Goldman Sachs Bank USA High-yield Online Savings Account
0.40%	1-year CD	1 Year CD 2.10% - Goldman Sachs Bank USA High-yield 12 Month CD
0.90%	3-year CD	3 Year CD 2.35% - Synchrony Bank 36 Month CD

View all Straits Area Federal Credit Union rates »

Overview / Commentary

www.mi-safcu.org

231-627-3145

201 Locust St
Cheboygan, MI 49721

Straits Area Federal Credit Union is headquartered in Cheboygan and is the 112^th largest credit union in the state of Michigan. It is also the 1,706^th largest credit union in the nation. It was established in 1951 and as of December of 2017, it had grown to 32 employees and 12,879 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.
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Health

B+

Data as of Q4 2017

Learn why bank health matters

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 Chartered	1951
Employees	32
Primary Regulator

Profit Margin
Return on Assets - YTD	0.4%
Return on Equity - YTD	4.65%
Annual Interest Income	$3.3MM

Assets and Liabilities
Assets	Q4 2017vs Q4 2016	$88.5MM$84.9MM
Loans	Q4 2017vs Q4 2016	$39.0MM$37.4MM
Deposits	Q4 2017vs Q4 2016	$79.9MM$76.9MM
Equity Capital	Q4 2017vs Q4 2016	$7.7MM$7.4MM
Loan Loss Allowance	Q4 2017vs Q4 2016	$402.00K$358.00K
Unbacked Noncurrent Loans	Q4 2017vs Q4 2016	$696.00K$555.00K
Real Estate Owned	Q4 2017vs Q4 2016	$116.00K$362.00K

Rates

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Savings
CD

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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

APY	MIN	MAX	ACCOUNT NAME
1.51%	-	-	IRA Account
0.50%^*	$50k^*	$999k	Regular 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

APY	MIN	MAX	ACCOUNT NAME
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

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