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Soo Co-Op Credit Union Share
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Overview Share
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Soo Co-Op Credit Union is a federally insured state credit union based in Sault Sainte Ma, Michigan. It has been opened since 1958, for 64 years.

With around $174,380,000 in assets, Soo Co-Op Credit Union is considered to be a large credit union. It has 7 branches and 4 ATM locations.

About Share
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Address 4489 I. 75 Business Spur
Sault Sainte MA, Michigan 49783
Website http://www.soocoop.com
Phone (906) 632-5300
Fax (906) 632-6631
CEO Lynda L. Ellis
President of the Board Thomas Thoresen
Services Offered
Score Card Share
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64 years
Years in business
Opened in 1958
Well Capitalized
Net worth classification
Source: NCUA
22,423 members
Membership type: State chartered natural person credit union
Above average number of members
291:1
Credit union member to staff ratio
291 per each FTE employee
Compared to 411:1 nationally
Lots of staff!
$174,381,873
Total assets
Above average
7 branches
Compared with an average of 4 nationally and 4 in Michigan
Above average number of branches
0.15%
Savings interest rate
Compared to 0.3% nationally
8.95%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches Share
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7 branches
Compared with an average of 4 nationally and 4 in Michigan
Above average number of branches
Soo Co-Op Credit Union Branch Locations

Soo Co-Op Credit Union: Kewadin Branch
2186 Shunk Road
Sault Sainte Marie, Michigan 49783
ATM Available
Soo Co-Op Credit Union: Cedarville Branch
90 Beach Street
Cedarville, Michigan 49719
No ATM
Soo Co-Op Credit Union: Brimley Branch
6946 S. M-221
Brimley, Michigan 49715
ATM Available
Soo Co-Op Credit Union
4489 I. 75 Business Spur
Sault Sainte Marie, Michigan 49783
ATM Available
Soo Co-Op Credit Union: Kinross Branch
4932 W. Curtis Street
Kincheloe, Michigan 49788
No ATM
Soo Co-Op Credit Union: Bingham Branch
536 Bingham Avenue
Sault Sainte Marie, Michigan 49783
ATM Available
Members Share
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22,423 members
Membership type: State chartered natural person credit union
Above average number of members

With 22,423 members, the Soo Co-Op Credit Union is considered to be a very large credit union. It is among the largest of credit unions and is larger than 83% of credit unions.

Fees Share
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$69
Average fee per member
The average fee per member at the Soo Co-Op Credit Union is $69, which is high compared to most credit unions. This rate is higher than 66% 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 Soo Co-Op Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff Share
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291:1
Credit union member to staff ratio
291 per each FTE employee
Compared to 411:1 nationally
Lots of staff!
77 staff members
FTE (full-time equivalent)
36% of employees are part-time
60 full-time, 34 part-time

Soo Co-Op Credit Union has 60 full-time staff members and 34 part-time staff members. The staff is predominantly comprised of full-time staff, at approximately 64% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. Soo Co-Op Credit Union has around 291 members per staff, a low ratio compared to other credit unions. This is a well staffed credit union.

Assets Share
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$174,381,873
Total assets
Above average
Net worth Share
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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.
13.3%
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 Share
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$8,964
Average loan and lease size
Loan & lease sizes are small. They are smaller than at 61% of credit unions.

Soo Co-Op Credit Union holds a total of $122,710,000 in loans and leases, which is about $8,964 per member on average.

Savings interest rate Share
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0.15%
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. Soo Co-Op Credit Union pays 0.15%.

Loan rates Share
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8.95%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
14.00%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
6.00%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates Share
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3.25%
New car loan rate
Compared to 4.0% nationally
5.50%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates Share
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5.50%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
5.50%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally

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Soo Co-Op Credit Union: Cedarville Branch
Credit Union Branch: 90 Beach Street
Cedarville, Michigan 49719 No ATM
Soo Co-Op Credit Union
Credit Union Branch: 4489 I. 75 Business Spur
Sault Sainte Marie, Michigan 49783 ATM Available
Soo Co-Op Credit Union: Bay Mills Community College Branch
Credit Union Branch: 12214 W. Lakeshore Drive
Brimley, Michigan 49715 No ATM
Soo Co-Op Credit Union: Kewadin Branch ATM
Credit Union ATM: 2186 Shunk Road
Sault Sainte Marie, Michigan 49783
Soo Co-Op Credit Union: Brimley Branch
Credit Union Branch: 6946 S. M-221
Brimley, Michigan 49715 ATM Available
Soo Co-Op Credit Union: Kewadin Branch
Credit Union Branch: 2186 Shunk Road
Sault Sainte Marie, Michigan 49783 ATM Available
Soo Co-Op Credit Union ATM
Credit Union ATM: 4489 I. 75 Business Spur
Sault Sainte Marie, Michigan 49783
Soo Co-Op Credit Union: Bingham Branch
Credit Union Branch: 536 Bingham Avenue
Sault Sainte Marie, Michigan 49783 ATM Available
Soo Co-Op Credit Union: Bingham Branch ATM
Credit Union ATM: 536 Bingham Avenue
Sault Sainte Marie, Michigan 49783
Soo Co-Op Credit Union: Kinross Branch
Credit Union Branch: 4932 W. Curtis Street
Kincheloe, Michigan 49788 No ATM