Credit union · NCUA insured
Soo Co-Op CU
Top CarrotA $324.8M credit union headquartered in Sault Ste. Marie, MI, with 24,668 members and 6 branches in Michigan. Best rates: CDs 3.65% and savings 0.50% APY.
Soo Co-Op CU Carrot Score
Carrot ScoreTop Carrot
Higher than 84% of U.S. banks and credit unions
#2 of 7 in Sault Ste. Marie, MI metroHow the score works →
Deposits are federally insured by the NCUA up to $250,000 per depositor.
About Soo Co-Op CU
Originated in 1950 by employees of the North West Leather Company and reorganized in 1958, Soo Co-op Credit Union is a member-owned financial institution.
The credit union serves individuals who live, own real estate, work, worship, or attend school in the State of Michigan.
- Headquarters
- 4489 I 75 Business Spur, Sault Ste. Marie, MI 49783
- NCUA charter
- 62325
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This may be incomplete or out of date, so check with the credit union before you apply.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
- Open to persons whose residence, employment, place of religious worship, real estate ownership, or school attendance is in the State of Michigan.
Family and household
- Open to any immediate relatives of current Soo Co-op Credit Union members.
Cost to join
- Establishing membership requires maintaining a minimum balance of at least $5.00 in a basic savings account.
Branches
6 branches in Michigan
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Michigan
6 branches
Sault Ste. Marie area · 5
- Soo Co-op Credit UnionMain office4489 I 75 Business Spur, Sault Ste. Marie, MI 49783Directions
- Brimley Branch6946 S M-221, Brimley, MI 49715Directions
- Kinross Branch4932 W Curtis St, Kincheloe, MI 49788Directions
- Bingham Branch536 Bingham Ave, Sault Ste. Marie, MI 49783Directions
- Kewadin Branch2186 Shunk Rd, Sault Ste. Marie, MI 49783Directions
Cedarville area · 1
- Cedarville Branch90 Beach St, Cedarville, MI 49719Directions
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 | 13.67% | 11.43% | 13.58% or more |
| Troubled loans60+ days late | 0.32% | 0.68% | 0.39% or less |
| ProfitabilityReturn on assets | 1.43% | 0.75% | 1.18% or more |
| LendingLoans per $100 deposited | $65 | $76 | — |
- CapitalNet worth ratio13.67%Peers’ middle 11.43% · Top 25% 13.58%+
- Troubled loans60+ days late0.32%Peers’ middle 0.68% · Top 25% ≤0.39%
- ProfitabilityReturn on assets1.43%Peers’ middle 0.75% · Top 25% 1.18%+
- LendingLoans per $100 deposited$65Peers’ 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 Soo Co-Op CU are confidential. These figures are what it reports to the NCUA each quarter, set beside its peers; they aren’t a rating.