Credit union · NCUA insured
Straits Area Federal Credit Union
A $130.5M credit union headquartered in Cheboygan, MI, with 12,057 members and 3 branches in Michigan. Best rates: savings 0.11% APY.
Straits Area Federal Credit Union Carrot Score
85
Carrot Score
Higher than 69% of U.S. banks and credit unions
#88 of 199 in MichiganHow the score works →
Deposits are federally insured by the NCUA up to $250,000 per depositor.
About Straits Area Federal Credit Union
Straits Area Federal Credit Union is a member-owned cooperative with three Northern Michigan branch locations in Cheboygan, Indian River, and Mackinaw City.
It serves Cheboygan County and the surrounding area, focusing on meeting member financial needs and supporting local communities.
- Headquarters
- 201 Locust St, Cheboygan, MI 49721
- NCUA charter
- 7428
Branches
3 branches in Michigan
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Michigan
3 branches
Cheboygan area · 1
- Main OfficeMain office201 Locust St, Cheboygan, MI 49721Directions
Indian River area · 1
- Branch Office6090 M 68 Hwy, Indian River, MI 49749Directions
Mackinaw City area · 1
- Branch Office121 E Central Ave, Mackinaw City, MI 49701Directions
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 | 11.74% | 11.43% | 13.58% or more |
| Troubled loans60+ days late | 2.77% | 0.68% | 0.39% or less |
| ProfitabilityReturn on assets | 1.29% | 0.75% | 1.18% or more |
| LendingLoans per $100 deposited | $47 | $76 | — |
- CapitalNet worth ratio11.74%Peers’ middle 11.43% · Top 25% 13.58%+
- Troubled loans60+ days late2.77%Peers’ middle 0.68% · Top 25% ≤0.39%
- ProfitabilityReturn on assets1.29%Peers’ middle 0.75% · Top 25% 1.18%+
- LendingLoans per $100 deposited$47Peers’ 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 Straits Area 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.