Charter 7428 · Cheboygan, MI
Straits Area Federal Credit Union
Straits Area Federal Credit Union is a federally chartered credit union in Cheboygan, Michigan, with $132 million in assets and 11,900 members as of June 30, 2026, according to the call report it filed with NCUA. Its net worth ratio was 11.74%, well above the 7% that NCUA's rules treat as well capitalized.
- Total assets
- $132 million
- +5.7% in a year
- Members
- 11,900
- -1.1% in a year
- Net worth ratio
- 11.74%
- Peer median 11.65%
- Loans 60+ days late
- 2.77%
- Peer median 0.70%
- Loans outstanding
- $54.1 million
- +4.2% in a year
- Shares and deposits
- $116 million
- +4.9% in a year
- Branches
- 3
- 32 employees
- Opened
- 1951
- Federal charter
How Straits Area Federal Credit Union compares
NCUA groups credit unions by size; Straits Area Federal Credit Union is in the group with $100 million to $500 million (1,061 credit unions). Its net worth ratio of 11.74% is higher than that group's median of 11.65%, and its share of loans 60 or more days past due, 2.77%, is higher than the group median of 0.70%. Loans grew 4.2% over the year to Q2 2026, against a group median of 2.9% growth.
By assets it ranks 104 of 169 credit unions headquartered in Michigan. See all Michigan credit unions.
Five quarters of figures
| Quarter | Assets | Members | Loans | Net worth ratio | 60+ days late |
|---|---|---|---|---|---|
| Q2 2026 | $132 million | 11,900 | $54.1 million | 11.74% | 2.77% |
| Q1 2026 | $131 million | 12,057 | $52.5 million | 11.50% | 2.44% |
| Q4 2025 | $128 million | 12,086 | $52.9 million | 11.51% | 2.64% |
| Q3 2025 | $126 million | 12,067 | $53.1 million | 11.30% | 2.41% |
| Q2 2025 | $125 million | 12,034 | $52.0 million | 10.98% | 2.15% |
Assets Members
Who can join
The field of membership is the group a credit union is allowed to serve: people who live or work in an area, employees of certain companies, members of an association, and their families. The credit union's own website has the exact rules. On its call report it estimates its field of membership at about 105,000 potential members. It holds NCUA's low-income designation, which lets it accept non-member deposits and raise secondary capital.
Credit unions that anyone in the US can join
Locations
NCUA's branch file lists 4 sites for Straits Area Federal Credit Union. The branch count in the figures above comes from its call report, which is filed separately, so the two can differ slightly.
- Main Office (main office)
201 Locust St, Cheboygan, MI 49721 - Branch Office
121 E Central Ave, Mackinaw City, MI 49701 - Branch Office
6090 M 68 Hwy, Indian River, MI 49749 - Cu Answers
6000 28Th St Se, Grand Rapids, MI 49546
About these numbers
Figures come from the NCUA 5300 Call Report quarterly data for Q2 2026 (quarter ended June 30, 2026), which each credit union files itself. "60+ days late" is delinquent loans of two months or more divided by total loans. Peer medians are computed across every credit union in the same NCUA asset-size group. NCUA call report data · Methodology