SOO CO-OP Credit Union Profile

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SOO CO-OP

Charter #62325 | NCUA Region 1 | FISCU

Low-Income Designation: Yes

Report Date: 2025

Headquarters Contact & Staff

Contact & Info

Phone: (906) 632-5300

Fax: (906) 632-6631

Founding Date: N/A

Website: http://www.soocoop.com

Personnel & Operations

President: Cook, Edwin

Manager: Ellis, Lynda

FT Employees: 66

PT Employees: 27

Designations & Ratios

MDI Status: No

RBC Ratio: 0%

Membership Type: 99

Branches: 6

Hours: Lobby: Monday thru Friday 7:30 am to 6:00 p

Credit Union Profile Summary

SOO CO-OP is a FISCU Credit Union. With a total of 24,304 members ^[1], this institution manages approximately $304,224,818 in total assets ^[1]. It proudly serves as a Low-Income Designated institution. Key financial indicators show a solid Net Worth Ratio of 13.18% ^[1] and a strong Loan-to-Share Ratio, with loan growth over the last four quarters at 4.80% ^[1].

Financial Snapshot

Total Assets ^[1]

$304,224,818

Total economic resources.

Total Loans ^[1]

$177,226,795

Total value of outstanding loans.

Total Deposits ^[1]

$266,877,768

Total funds deposited by members.

Members ^[1]

24,304

Number of active members.

Performance Ratios

Net Worth Ratio ^[1]

13.18%

This is the credit union's safety cushion; 7.0% is the regulatory minimum. A higher ratio means the credit union is stable.

Return on Assets (ROAA) ^[1]

1.27%

Measures profitability. Shows profit generated per dollar of assets. Near 1.0% is considered strong.

Loan-to-Share Ratio ^[1]

66.41%

Measures lending activity using member deposits. Below 100% is generally healthy, balancing lending and liquidity.

Four-Quarter Growth

Asset Growth (4Q) ^[1]

↑ 10.28%

Indicates change in total size. Positive growth means the credit union is expanding its operations.

Loan Growth (4Q) ^[1]

↑ 4.80%

Shows change in lending activity. Positive growth means they are actively increasing their lending business.

Member Growth (4Q) ^[1]

↓ -0.07%

Indicates change in member count. Positive growth is a sign of a healthy, expanding member base.

Headquarters Location & Map

Headquarters Address

4489 I 75 Business Spur

Sault Sainte Ma, MI, 49783

Open in Google Maps

Member Ratings & Reviews

Average Member Rating:

N/A / 5.0

Total Approved Reviews:

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