Credit union · NCUA insured
Awakon Federal Credit Union
A $201.9M credit union headquartered in Onaway, MI, with 14,830 members and 6 branches in Michigan. Best rates: CDs 3.81% and savings 0.20% APY.
Awakon Federal Credit Union Carrot Score
85
Carrot Score
Higher than 69% of U.S. banks and credit unions
#1 of 8 in Petoskey, MI metroHow the score works →
Deposits are federally insured by the NCUA up to $250,000 per depositor.
About Awakon Federal Credit Union
Awakon Federal Credit Union is a not-for-profit financial cooperative.
- Headquarters
- 20855 Washington Ave, Onaway, MI 49765
- NCUA charter
- 7465
Membership
Who can join
This may be incomplete or out of date, so check with the credit union before you apply.
Where you live or work
- You must live, work, worship, attend school in, or own a business located in the Northernmost Eight Counties of Lower Michigan (Presque Isle, Cheboygan, Montmorency, Otsego, Alpena, Emmet, Charlevoix, and Antrim Counties).
Branches
6 branches in Michigan
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Michigan
6 branches
Onaway area · 1
- Awakon Federal Credit UnionMain office20855 Washington Ave, Onaway, MI 49765Directions
Gaylord area · 1
- Awakon Federal Credit Union1496 W Main St, Gaylord, MI 49735Directions
Indian River area · 1
- Awakon Federal Credit Union6272 M-68 Hwy, Indian River, MI 49749Directions
Petoskey area · 1
- Petoskey Meijer Branch1201 Lears Rd Spc B, Petoskey, MI 49770Directions
Rogers City area · 1
- Awakon Federal Credit Union279 S Bradley Hwy, Rogers City, MI 49779Directions
Wolverine area · 1
- Awakon Federal Credit Union12842 S Straits Hwy, Wolverine, MI 49799Directions
Walk-in offices from the NCUA directory as of March 31, 2026. Directions open Google Maps. A nearby branch doesn’t mean you can join or open an account.
Financial details
Well capitalizedas reported to the NCUA
| Measure | This credit union | Peers’ middle | Strongest quarter |
|---|---|---|---|
| CapitalNet worth ratio | 13.54% | 11.43% | 13.58% or more |
| Troubled loans60+ days late | 1.86% | 0.68% | 0.39% or less |
| ProfitabilityReturn on assets | 1.49% | 0.75% | 1.18% or more |
| LendingLoans per $100 deposited | $80 | $76 | — |
- CapitalNet worth ratio13.54%Peers’ middle 11.43% · Top 25% 13.58%+
- Troubled loans60+ days late1.86%Peers’ middle 0.68% · Top 25% ≤0.39%
- ProfitabilityReturn on assets1.49%Peers’ middle 0.75% · Top 25% 1.18%+
- LendingLoans per $100 deposited$80Peers’ middle $76
Compared with the 1,338 credit unions with $100 million to $1 billion in assets. The strongest quarter is what the best 25% of them reach: more capital and profit, fewer troubled loans. Lending has no better end.Troubled loans are loans 60 or more days late.
Regulators’ own ratings of Awakon Federal Credit Union are confidential. These figures are what it reports to the NCUA each quarter, set beside its peers; they aren’t a rating.