Savings
When it comes to your financial well being, it’s very important to have a great savings plan. In far northern Michigan and around the Straits of Mackinac, you’ll find the best savings solutions at Stratis Area Federal Creidt Union, Cheboygan County’s largest credit union.
For over 60 years, we’ve been serving our members with all kinds of savings accounts. Saving for the vacation of your dreams? Thinking about putting away money for college education? Planning for your retirement? Need to put some funds away for the next holiday season? We have three convenient branches in Cheboygan, Indian river, and Mackinaw City. Stop in and see us about opening the right kind of savings account for your financial situation.
Additional Savings Products Available
ATM Card
Christmas Club Account
Individual Retirement Accounts (IRA)
Certificate Accounts
Checking
Around the Straits of Mackinac, Cheboygan County, and almost anywhere in far northern Michigan, when you’re looking for a financial institution with low cost checking account solutions, search no further than Straits Area Federal Credit Union.
Our Totally FREE Checking at Straits Area Federal Credit Union has lots of other credit union member benefits. We’re sure you’ll find having a checking account at Straits Area Federal Credit Union is the best option for saving money! We can’t wait to tell you all about it.
So stop into your local branch in Cheboygan, Indian River or Mackinaw City and ask about totally FREE Checking. You can access and manage your account online and pay bills with a click of your mouse or do your banking from our mobile app on your smart phone.
Additional Checking Products Available
ATM/Debit Card
Business Accounts
When you open a business account at Straits Area Federal Credit Union, your business will start saving money right away! Our business accounts feature absolutely no per transaction fees like most banks charge you. Take a close look at your business account statement. If you don’t bank with us… your business is paying too much.
Throughout Cheboygan County, the Straits of Mackinac area, and all of far northern Michigan, you can’t find a better business account solution than Straits Area Federal Credit Union.
We have online banking for your business, text banking, and business checking. We have no minimum balance, with only a $10 monthly flat fee. How’s that for saving your business money every month!
Whether your business is big, small, or in between, stop at one of our convenient branches in Cheboygan, Indian River, or Mackinaw City and talk to us about your business account.
Youth
Learning the ins and outs of banking is an extremely important life skill, from the importance of saving and the rates of return to managing a checking account. Straits Area Federal Credit Union is dedicated to helping young people get a great start on understanding finances. Look no further than Straits Area Federal Credit Union in Cheboygan County, the Straits of Mackinac area, or anywhere in far northern Michigan when it comes to educating your child about how to plan for the future and manage money.
For Kids Up To 12 Years Old:
It all starts with Petey the Piggy Bank! They receive a new piggy bank and a quarter keeper when they open a savings account at Straits Area Federal Credit Union. Not only that, they’ll be able to pick a free prize out of Petey’s Toy Bin when they open an account and every time a child deposits $5 or more. Of course, a parent or guardian must be listed on the account.
Straits Area Federal Credit Union provides a Savings Passbook to help your child keep track of their money and they’ll carry their own personalized Petey’s Club Membership Card.
Teenagers
We have great programs to keep the education going. We offer checking accounts at age 13 and ATM Debit Cards for teenagers when they reach 16 years old. And we help teach about financial services in our local schools!
So stop into one of our convenient branches in Cheboygan, Indian River, and Mackinaw City for all the details.
Rates
As of April 1, 2020
Savings:
| Terms | APY* |
|---|---|
| Balances from $5.00 to $750.00 | .05% |
| Balances from $751.00 to $1,500.00 | .07% |
| Balances from $1501.00 to $2,500.00 | .09% |
| Balances from $2501.00 to $25,000.00 | .15% |
| Balances from $25,001.00 to $50,000.00 | .20% |
| Balances from $50,001.00 to $999,000.00 | .25% |
IRA Accounts
| Terms | APY* |
|---|---|
| All IRA Accounts | 1.00% |
Certificate Accounts ($1,000 Minimum)
| Terms | APY* |
|---|---|
| CA: 1 Year | .15% |
| CA: 2 Year | .40% |
| CA: 3 Year | .60% |
*APY is the Annual Percentage Yield. All Rates Are Subject to change by the Board of Directors.
