PO BOX 367
Cheboygan, MI 49721
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.15% 1.55% →
1-Year CD 0.15% 1.35% →
2-Year CD 0.40% 1.45% →
5-Year CD N.A. 1.60% →
30-Year Mortgage N.A. 3.09% →
15-Year Mortgage N.A. 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Credit Union Information

Straits Area is an NCUA insured institution located in Cheboygan, MI. It was founded in 1951 and has approximately $88.79 millions in assets.

NCUA Insured Yes
Charter Number # # 7428
Date Established 1951
Assets $88.79 million
Loans $45.20 million
Deposits $78.97 million
Capital $8.88 million

Field of Membership Restrictions

Must live or work in Cheboygan County.

Deposit Rates - June 5, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates (Share Account Rates) APY MIN MAX
0.15% $2,501 $25,000 Learn More
CD Rates (Share Certificate Rates) APY MIN MAX
12 Mo CD
0.15% $1,000 - Learn More
24 Mo CD
0.40% $1,000 - Learn More
36 Mo CD
0.60% $1,000 - Learn More

Loan Rates - June 5, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for STRAITS AREA

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:

Featured - Connecticut 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Learn More
Rocket Mortgage
NMLS ID: 3030
3.872% 3.750% 1.00 $3,750 $1,158 Learn More
NMLS ID: 2890
License#: 13256
3.019% 3.000% 0.25 $625 $1,055 Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
3.998% 3.875% 1.00 $3,750 $1,176 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Figure Home Equity Line
Figure Home Equity Line
0.000 %
$0 Learn More
More Info
PenFed Credit Union
PenFed Credit Union
3.750 %
$0 Learn More
More Info
People's United Bank, N.A.
People's United Bank, N.A.
4.000 %
$0 Learn More
More Info

To upload and update your bank's rates please register. It is free to register and add rates.


Below are Straits Area branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:

Straits Area Locations

Financial Details

Straits Area Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Straits Area. The data is provided by the NCUA. All credit unions on BestCashCow, except those specified as not NCUA-insured in the overview section above, are NCUA-insured. Depositors should be careful to remain within NCUA insurance limits.

Texas Ratio
Straits Area U.S. Average
3.48% 5.92

The Texas Ratio compares the amount of loans at risk and assets repossessed with the amount a credit union has on hand to cover any losses. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a credit union has to absorb its loan losses.

As of September 30, 2019, Straits Area had $218,867 in non-current loans and $104,544 in owned assets. To cover these potential losses it had $8,883,792 in net worth and $420,034 in loans loss reserves. That gives it a Texas Ratio of 3.48%.

Net Worth
Straits Area U.S. Average
10% 13.86%

Straits Area FCU has a net worth of 10% versus the BestCashCow average of 13.86. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.

Frequently Asked Questions About Straits Area

Branches and Savings

What is Straits Area?

A federal credit union, registered with the NCUA under certificate #7428.
Learn more about credit unions here.

Is Straits Area FDIC insured?

No, credit unions are not insured by the FDIC. They are insured by the National Credit Union Administration. The insurance provisions of the NCUA are similar to, but not identical to, FDIC insurance.

Who can join Straits Area?

Please see Field of Membership information above for information on who is eligible to join.

What are Straits Area's share account and share certificate rates?

Straits Area's deposit account rates are listed above.
You may find better online savings rates here or better local savings rates at banks or credit unions. Tables with the best CD rates are here.

How big is Straits Area?

Straits Area has total capital of $8.88 million. Full information on Straits Area's financial position is located above.

Who owns Straits Area?

Credit Unions are owned by their members.

Where are Straits Area branches located?

See branch locations nearby.

Are Straits Area ATMs Open 24/7?

Do Straits Area ATMs accept cash deposits?

Can Straits Area customers use other ATMs? What is the charge for withdrawing money from another ATM?

Does Straits Area have a mobile app?

Does Straits Area have mobile deposit?

Does Straits Area have quick pay?

How can Straits Area transfer money to other banks or credit unions?

Does Straits Area report to credit bureaus?

Does Straits Area use Chexsystems?

Does Straits Area use Equifax?

What is Straits Area's toll free phone number?

What is Straits Area's ACH Routing Number?

What is Straits Area's SWIFT code?

Where can I find Straits Area's wire transfer form?

What is the Straits Area address for deposits?

What Products Does Straits Area Offer

Does Straits Area offer mortgages?

Compare mortgage rates here.

Does Straits Area offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Straits Area offer auto and RV loans?

Compare auto loan rates here.

Does Straits Area offer student loans or personal loans?

Compare personal loan rates here.

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