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Straits Area Federal Credit Union

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Straits Area Federal Credit Union Rates & Review August 2026

Q: Are credit management and repair services offered?

While formal credit repair services are not currently listed, Straits Area Federal Credit Union provides members with tools to manage their accounts and build a solid financial history.

Content reviewed by

Brian McKay

| Editorial Disclosure | ✓Fact Checked | Rates Last Updated and Verified: August 29, 2026

Straits Area Federal Credit Union rates are not currently in our database, but you can compare rates from other banks and credit unions we track: 12-month share certificate rates are currently at 2.89%, 6-month share certificate rates at 2.75% and 3-month share certificate rates at 2.65%. Savings rates are at 0.84% and money market rates are at 1.17%. Mortgage rates on 30-year fixed loans are around 6.69%. These rates come from our rate database, not Straits Area Federal Credit Union, and you can see how they compare in the Straits Area Federal Credit Union rate tables below. MonitorBankRates evaluates the financial stability of Straits Area Federal Credit Union with a 5.0 Star Rating, an A Overall Health Grade, and a Texas Ratio of 8.73%. Database rates last updated and verified on 08/29/2026.

Straits Area Federal Credit Union money market rates, and other rates, are continually updated to reflect market conditions. We recommend checking back frequently to get the best money market rates and other rates available. Have you opened an account or have any experiences at Straits Area Federal Credit Union? Share your experience about Straits Area Federal Credit Union by leaving a review below, or read customer reviews before you decide to use Straits Area Federal Credit Union.

Verified Healthy Use This Badge on Your Credit Union Website

Overall Health & Safety Grade

Excellent Health Score: 96/100

MonitorBankRates Rating

5.0

Exceptional Out of 5.0 Stars

Texas Ratio

8.73%

Excellent Higher than avg

Straits Area Federal Credit Union
Main Office

201 Locust St
Cheboygan, MI 49721

Current Rate Availability

We're not currently displaying rates for Straits Area Federal Credit Union, but our database is updated constantly — check back soon for the latest offers.

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Methodology & Data Sources

MonitorBankRates Star Rating

Our rating for Straits Area Federal Credit Union is derived from comprehensive financial data published quarterly by the NCUA. Our proprietary rating system evaluates financial stability (including the Texas Ratio and capitalization) and combines it with member feedback (user reviews) to help you make informed banking decisions.

Texas Ratio

We calculate the Texas Ratio using standard industry methodology. This ratio compares the credit union's non-performing assets to its tangible common equity and loan loss reserves to assess financial health.

Rate Data Aggregation

We gather Straits Area Federal Credit Union rates using proprietary online rate aggregation technology. Our systems scan constantly to provide the most recent rates available to our visitors.

Disclaimer: Interest rates are variable and subject to change without notice. While we strive for accuracy, rates can change rapidly based on market conditions. It is always advisable to check with Straits Area Federal Credit Union's official website for the most current offers and terms.

Credit Union Profile & Overview

Credit Union Name Straits Area Federal Credit Union

Website N/A

Address 201 Locust St, Cheboygan, MI 49721

Phone 231-627-3145

Fax 231-627-2046

President Harold Borowicz

CEO Cindy Harrison

Full-Time Employees 32

Part-Time Employees 0

Branch Locations 3

ATM Locations 3

NCUA Insured ✓ Yes — Up to $250,000 per depositor

Financials

MonitorBankRates Star Rating

5.0 / 5.0 ★

Overall Health & Safety Grade

A (96/100)

Texas Ratio

8.73%

Return on Assets (ROA)

0.8778%

Return on Equity (ROE)

7.7677%

Non-Performing Loans Ratio (NPL)

2.41%

Total Assets

126,375,085

Total Amount of Shares and Deposits

110,608,383

Total Shares and Deposits < 1 Year

110,283,042

Total Shares and Deposits 1 3 Years

325,340

Total Uninsured Member Shares and Deposits > $250K (A+A1+B+C+D+E)

2,451,307

Total Uninsured Shares and Deposits > $250K (F+J)

2,451,307

Total Insured Shares and Deposits > $250K (item 17 less item K)

108,157,076

Total Interest Expense (Sum of items 6 8)

706,694

Share Certificates

391

Number of Accounts for Share Drafts

6,758

IRA KEOGH Accounts

175

Number of Accounts for Regular Shares

12,067

All other shares

1,448

Net Income (unless the amount is already included in Undivided Earnings)

1,109,323

Net Worth Classification if credit union is not new (Based upon Call Report data only See instructions)

Well Capitalized

Net Worth Classification if credit union is a new credit union

Well Capitalized

Total Cash on Deposit (Amounts Deposited in Financial Institutions)

6,851,654

Total Liabilities

112,158,045

Source: NCUA — Last Updated 09/30/2025

2026 MBR Health & Safety Badge

Straits Area Federal Credit Union earned the Verified Healthy badge

Display this badge on your website to show visitors your 2026 MonitorBankRates recognition. The badge links back to this profile page for independent verification.

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Customer Reviews

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Total Reviews

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Frequently Asked Questions About Straits Area Federal Credit Union

How many branches does Straits Area Federal Credit Union operate?

Straits Area Federal Credit Union currently maintains approximately multiple branch location(s). Physical branches allow members to access in-person services such as notary consultations and safe deposit boxes.

Is a member application needed to join Straits Area Federal Credit Union?

Yes, to access services at Straits Area Federal Credit Union, a member application is required. As a credit union, membership is based on specific eligibility criteria such as where you live, work, or your organizational affiliations.

Is there a first-time homebuyer program?

Currently, Straits Area Federal Credit Union does not list a specific first-time homebuyer program, but they provide a range of mortgage and home equity products to assist members with property financing.

Are credit management and repair services offered?

While formal credit repair services are not currently listed, Straits Area Federal Credit Union provides members with tools to manage their accounts and build a solid financial history.

Does Straits Area Federal Credit Union offer online and mobile banking?

Most modern institutions like Straits Area Federal Credit Union provide digital access. This includes the ability to check balances, transfer funds, deposit checks via mobile app, and view statements online.