Straits Area Federal Credit Union
LOCATIONS
4
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HEALTH RATING
B
View health report
CURRENT TOP RATE
1.51% APY
IRA Account
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Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | HOW THEY COMPARE |
|---|---|---|
| 0.50% | Savings | |
| 0.40% | 1-year CD | 1.30% - National Average |
| 0.90% | 3-year CD | 1.82% - National Average |
Overview / Commentary
Straits Area Federal Credit Union is headquartered in Cheboygan and is the 111th largest credit union in the state of Michigan. It is also the 1,709th largest credit union in the nation. It was established in 1951 and as of September of 2018, it had grown to 32 employees and 12,923 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 Q3 2018
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 | 32 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.67% |
| Return on Equity - YTD | 7.8% |
| Annual Interest Income | $2.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2018vs Q3 2017 | $90.2MM$89.4MM |
| Loans | Q3 2018vs Q3 2017 | $40.6MM$38.1MM |
| Deposits | Q3 2018vs Q3 2017 | $81.6MM$80.7MM |
| Equity Capital | Q3 2018vs Q3 2017 | $7.7MM$7.8MM |
| Loan Loss Allowance | Q3 2018vs Q3 2017 | $391.00K$359.00K |
| Unbacked Noncurrent Loans | Q3 2018vs Q3 2017 | $1.1MM$875.00K |
| Real Estate Owned | Q3 2018vs Q3 2017 | $0$127.00K |
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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
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 |