Straits Area Federal Credit Union Cheboygan, Michigan
Also written as Straits Area FCU
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Data as of · sourced from NCUA 5300 call reports. How we update
Straits Area Federal Credit Union is a federal credit union headquartered in Cheboygan, MI, established in 1951 (NCUA charter 7428), and it is regulated and insured by the NCUA. At Q2 2026 it reported 11,900 members and total assets of $132.4M (up 5.7% from Q2 2025), the 104th largest of 169 credit unions headquartered in Michigan. Its net worth ratio was 11.74% at Q2 2026, in the well capitalized band (NCUA's well capitalized line is 7%).
- Charter
- Federal credit union
- Regulator
- NCUA
- Deposit insurance
- NCUA (NCUSIF)
- NCUA charter number
- 7428
- Headquarters
- Cheboygan, MI
- Established
- 1951
- Total assets, Q2 2026
- $132.4M
- Assets vs Q2 2025
- +5.7%
- Members, Q2 2026
- 11,900
- Net worth ratio, Q2 2026
- 11.74%
- Latest call report
- Q2 2026, NCUA 5300 · Straits Area Federal Credit Union call report
- Asset rank in state
- 104th of 169 in Michigan
- Routing number
- 272477500
- Branches
- 4
It has 134 fewer members than on June 30, 2025 (-1.1%). Its net worth ratio was up 0.76 percentage points from 10.98% on June 30, 2025.
Credit unions similar in size in Michigan
Frequently asked about Straits Area Federal Credit Union
How big is Straits Area Federal Credit Union?
At Q2 2026 it reported total assets of $132.4M and 11,900 members.
Where is Straits Area Federal Credit Union headquartered?
It is headquartered in Cheboygan, MI, United States.
When was Straits Area Federal Credit Union founded?
It was established in 1951, per NCUA records.
Is Straits Area Federal Credit Union federally insured?
Yes. It files the NCUA 5300 call report as a federally insured credit union (NCUA charter 7428). Member shares are insured by the National Credit Union Share Insurance Fund up to $250,000 per member, per insured credit union, for each account ownership category.
Who regulates Straits Area Federal Credit Union?
It is a federal credit union, chartered and supervised by the NCUA.
Is Straits Area Federal Credit Union well capitalized?
Its net worth ratio was 11.74% at Q2 2026, in the well capitalized band. NCUA considers a credit union well capitalized at a net worth ratio of 7% or higher.
What is Straits Area Federal Credit Union's delinquency ratio?
Its delinquency ratio was 2.77% at Q2 2026: loans 60 or more days past due as a share of total loans.
What is Straits Area Federal Credit Union's loan-to-share ratio?
Its loan-to-share ratio was 46.81% at Q2 2026: total loans as a share of member shares and deposits.
Credit Union Profile
- Headquarters
- Cheboygan, MI 49721
- Charter Type
- Federal credit union
- Primary Regulator
- NCUA
- Insurance
- NCUSIF
- Established
- 1951
- NCUA Charter #
- 7428
- RSSD ID
- 294087
- Members
- 11,900
- Potential members
- 105,000
Size & Membership
Profitability
Q2 annualizedROA, ROE and net interest margin are the quarter's own income, annualized. NCUA's Financial Performance Report annualizes the year to date instead, so after the first quarter its figures differ from ours. Where the 5300 for this quarter and the prior year-end is served, the year-to-date value on NCUA's basis is shown beside each as YTD, over the average of this quarter's and the prior year-end balances. NCUA publishes no ROE; ours uses the same year-to-date basis over average net worth.
Capital & Asset Quality
Net worth category is computed by BankRegReports from the net worth ratio, using NCUA's 7, 6, 4 and 2 percent thresholds. It is not NCUA's determination, which can differ.
Peer comparison: credit unions of similar size
It ranks against 1,341 credit unions with $100M to $1B in assets, as of Q2 2026. It is in the top quartile on 4 of 7 ranked measures and in the bottom quartile on 1. Rank is the estimated share of peers this credit union outperforms; the tag compares it with the median peer. Percentiles are interpolated from the peer group's 10th, 25th, 50th, 75th and 90th percentile values.
| Metric | This credit union | Peer median | Rank among peers |
|---|---|---|---|
| Net worth ratio Middle half of peers: 9.81% to 13.58% | 11.74% | 11.43% | 54th above |
| Return on assets Middle half of peers: 0.43% to 1.23% | 1.59% | 0.81% | 87th top |
| Return on equity Middle half of peers: 3.87% to 9.84% | 13.58% | 7.02% | over 90th top |
| Net interest margin Middle half of peers: 3.30% to 4.10% | 4.32% | 3.70% | 83rd top |
| Efficiency ratio Middle half of peers: 68.90% to 83.49% | 69.31% | 76.55% | 74th above |
| Cost of funds Middle half of peers: 0.92% to 1.56% | 0.54% | 1.24% | over 90th top |
| Delinquency ratio Middle half of peers: 0.39% to 1.12% | 2.77% | 0.68% | under 10th bottom |
| Yield on assets Middle half of peers: 4.53% to 5.37% | 4.86% | 4.92% | 47th position only |
| Loan-to-share ratio Middle half of peers: 62.05% to 86.41% | 46.81% | 75.66% | under 10th position only |
Quarterly trends
Last 6 quarters from this credit union's own NCUA 5300 call reports. Balances are as of each quarter end; ratios are annualized.
Balances at each quarter end. Shares are the credit-union term for member deposits.
Balances at each quarter end. Net worth is the credit-union equivalent of equity capital.
Net worth over total assets. NCUA calls a credit union well capitalized at 7% and undercapitalized below 6%.
Loans over shares and deposits: how much of member money is lent out rather than invested or held in cash.
Loans 60 or more days past due as a share of total loans.
Annualized, so each point is a rate rather than a running total.
Annualized. Interest income less interest expense, over average earning assets.
Reported member count at each quarter end.
Quarterly trend: last 6 quarters
Quarter-over-quarter movement in the four ratios NCUA watches most, from the credit union's own NCUA 5300 call report filings.
| Quarter | Net worth ratio | ROA | Delinquency | Loan-to-share |
|---|---|---|---|---|
| June 30, 2026 | 11.74% | 1.59% | 2.77% | 46.81% |
| March 31, 2026 | 11.50% | 0.96% | 2.44% | 46.02% |
| December 31, 2025 | 11.51% | 1.41% | 2.64% | 47.29% |
| September 30, 2025 | 11.30% | 1.64% | 2.41% | 48.03% |
| June 30, 2025 | 10.98% | 0.96% | 2.15% | 47.13% |
| March 31, 2025 | 10.95% | 0.94% | 2.34% | 46.05% |
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Watch flags
Automated conditions triggered on this credit union's latest NCUA 5300 filing. Advisory only, not a prediction. Each flag is tagged Regulatory when it cites an official NCUA threshold, or BRR analysis when it's our own band.
Loans 60+ days delinquent exceed 2% of the loan book, well above the credit-union industry norm of under 1%. Sustained high delinquency erodes net worth through charge-offs. BankRegReports band vs the <1% industry norm.
Source: NCUA 5300 Call Report, standardized by BankRegReports. Credit unions are insured by the National Credit Union Share Insurance Fund (NCUSIF), not the FDIC. See how often this data updates or learn more about our data.