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Awakon Credit Union

Overview
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Awakon Credit Union is a federal credit union based in Onaway, Michigan. It has been opened since 1951, for 69 years.

With around $105,960,000 in assets, Awakon Credit Union is considered to be a large credit union. It has 5 branches and 5 ATM locations.

About
Address Po Box 420
Onaway, Michigan 49765
Website http://www.awakonfcu.net
Phone (989) 733-8557
Fax (989) 733-6252
CEO Scott M. Pauly
President of the Board Bernard Schmeltzer
Services Offered
Map
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Score Card
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69 years
Years in business
Opened in 1951
Well Capitalized
Net worth classification
Source: NCUA
12,655 members
Membership type: Unknown
Above average number of members
301:1
Credit union member to staff ratio
301 per each FTE employee
Compared to 411:1 nationally
Lots of staff!
$105,962,274
Total assets
Above average
5 branches
Compared with an average of 4 nationally and 4 in Michigan
Above average number of branches
0.18%
Savings interest rate
Compared to 0.3% nationally
9.90%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches
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5 branches
Compared with an average of 4 nationally and 4 in Michigan
Above average number of branches
Awakon Credit Union Branch Locations

Awakon Federal Credit Union
20855 Washington Avenue
Onaway, Michigan 49765
ATM Available
Awakon Federal Credit Union
6272 M-68 Highway
Indian River, Michigan 49749
ATM Available
Awakon Federal Credit Union
279 S. Bradley Highway
Rogers City, Michigan 49779
ATM Available
Awakon Federal Credit Union
12842 S. Straits Highway
Wolverine, Michigan 49799
ATM Available
Awakon Federal Credit Union
1496 W. Main Street
Gaylord, Michigan 49735
ATM Available
Members
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12,655 members
Membership type: Unknown
Above average number of members

With 12,655 members, the Awakon Credit Union is considered to be a large credit union. It is larger than 75% of credit unions.

Fees
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$78
Average fee per member
The average fee per member at the Awakon Credit Union is $78, which is high compared to most credit unions. This rate is higher than 73% of all credit unions.
Fees are higher than average

Credit unions, like banks, charge members various fees, such as overdraft fees, ATM fees, credit card fees, inactivity or dormat account fees, and more.

The average fee per member gives you a general sense of how much you might pay in fees as a member of the Awakon Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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301:1
Credit union member to staff ratio
301 per each FTE employee
Compared to 411:1 nationally
Lots of staff!
42 staff members
FTE (full-time equivalent)
5% of employees are part-time
41 full-time, 2 part-time

Awakon Credit Union has 41 full-time staff members and 2 part-time staff members. The staff is predominantly comprised of full-time staff, at approximately 95% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. Awakon Credit Union has around 301 members per staff, a low ratio compared to other credit unions. This is a well staffed credit union.

Assets
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$105,962,274
Total assets
Above average
Net worth
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Well Capitalized
Net worth classification
Source: NCUA
A well capitalized credit union has a net worth ratio of 7% or greater and also meets applicable risk-based net worth requirements, according to the National Credit Union Administration.
11.0%
Net worth ratio
A higher net worth ratio is better.
Compared to an average of 13.6% nationally

A credit union's net worth ratio is one of the most important metrics you should consider when deciding whether to join a credit union. Why? It's a measure of financial strength

The net worth ratio is equal to a credit union's net worth divided by its assets. According to the National Credit Union Administration, a minimum net worth ratio of 7% is required to be considered to be a well capitalized credit union.

Loans & leases
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$8,545
Average loan and lease size
Loan & lease sizes are small. They are smaller than at 64% of credit unions.

Awakon Credit Union holds a total of $70,530,000 in loans and leases, which is about $8,545 per member on average.

Savings interest rate
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0.18%
Savings interest rate
Compared to 0.3% nationally

A credit union share account is an account at a credit union. It's called a share account because the credit union is member owned and as a result, members own shares in the credit union.

A share savings account pays you interest on your savings, similar to a savings account at a bank. The interest you receive can vary. Awakon Credit Union pays 0.18%.

Loan rates
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9.90%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
9.99%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
3.05%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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2.79%
New car loan rate
Compared to 4.0% nationally
3.79%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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4.50%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
7.50%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally