Credit Unions | Straits Area Federal Credit Union

Straits Area Federal Credit Union


Straits Area Federal Credit Union is a NCUA insured federal credit union headquartered at PO Box 367, Cheboygan, MI 49721.
It was founded in 1951 and has approximately $114 million in assets. Customers can open an account at one of its 8 branches.

Deposit Rates - May 17, 2024

SAVINGS RATES APY MIN
Savings
0.09% $2,500 Compare
CD RATES APY MIN
6 Mo CD
0.20% $10,000 Compare
6 Mo CD
0.20% $100,000 Compare
12 Mo CD
0.15% $10,000 Compare
12 Mo CD
0.15% $100,000 Compare
24 Mo CD
0.40% $10,000 Compare
24 Mo CD
0.40% $100,000 Compare
36 Mo CD
0.60% $10,000 Compare
36 Mo CD
0.60% $100,000 Compare

Overview 2024

General Credit Union Information

NCUA Insured Yes / Federally Chartered
Charter Number # 7428
Date Established 1951
Assets $114.11 million
Loans $49.60 million
Deposits $102.99 million
Capital $12.08 million


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Branches

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Straits Area Federal Credit Union Locations

Savings Comparison

This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.

PRODUCT
BANK
BANK TYPE
STATE
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
MILES

Tax Rate: 30%

All calculations are for demonstration purposes only.

  • 1
    LOCAL SAVINGS
    STRAITS AREA
    Credit Union
    MICHIGAN
    $50,000
    N.A.
    0.09%
    0.41x (National Avg. - 0.22%)
    $2,500
    -
    SCENARIO
    Year Rate
    0.09%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 45 32
    2 50,045 45 32
    3 50,090 45 32
    4 50,135 45 32
    5 50,180 45 32
    6 50,225 45 32
    7 50,271 45 32
    8 50,316 45 32
    9 50,361 45 32
    10 50,406 45 32
    11 50,452 45 32
    12 50,497 45 32
    13 50,543 45 32
    14 50,588 46 32
    15 50,634 46 32
    16 50,679 46 32
    17 50,725 46 32
    18 50,771 46 32
    19 50,816 46 32
    20 50,862 46 32
    TOTAL $908 $635
  • 2
    LOCAL SAVINGS
    Forbright Bank , ★ TOP PICK ★
    Bank
    -
    $50,000
    N.A.
    5.15%
    23.73x (National Avg. - 0.22%)
    $0
    -
    SCENARIO
    Year Rate
    5.15%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,575 1,803
    2 52,575 2,708 1,895
    3 55,283 2,847 1,993
    4 58,130 2,994 2,096
    5 61,123 3,148 2,203
    6 64,271 3,310 2,317
    7 67,581 3,480 2,436
    8 71,062 3,660 2,562
    9 74,721 3,848 2,694
    10 78,569 4,046 2,832
    11 82,616 4,255 2,978
    12 86,870 4,474 3,132
    13 91,344 4,704 3,293
    14 96,049 4,946 3,463
    15 100,995 5,201 3,641
    16 106,196 5,469 3,828
    17 111,665 5,751 4,026
    18 117,416 6,047 4,233
    19 123,463 6,358 4,451
    20 129,821 6,686 4,680
    TOTAL $86,507 $60,555


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