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Overview / Commentary
2573 Credit Union Dr
Prior Lake, MN 55372

South Metro Credit Union is headquartered in PRIOR LAKE and is the 41st largest credit union in the state of Minnesota. It is also the 1,627th largest credit union in the nation. It was established in 1993 and as of December of 2013, it had grown to 17 employees and 3,453 members. South Metro Credit Union's CD rates are 2X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Must live or work in Scott County, MN. - See Details

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Data for Q4 2013

Institution Health

Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. South Metro Credit Union has a relatively low asset base.

Texas Ratio


The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 South Metro Credit Union had $284,000 in non-current loans and owned real-estate with $8.73 million in equity and loan loss allowances on hand to cover it. This gives South Metro Credit Union a Texas Ratio of 3.25% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for South Metro Credit Union decreased slightly from 4.40% as of December 31, 2012 to 3.25% as of December 31, 2013, resulting in a positive change of 26.07%.This indicates that the balance sheet and financial strength for South Metro Credit Union has improved slightly in recent periods.

Deposit Growth


In the past year, South Metro Credit Union has decreased its total deposits by -$2.26 million, resulting in -2.94% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth South Metro Credit Union has shown is below average.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. South Metro Credit Union has $86.78 million in assets with $8.73 million in equity, resulting in a capitalization level of 10.06%, which is above average.

Institution Statistics

NCUA #24482
Year Chartered1993
Primary Regulator
Assets and Liabilities
Assets$86.78 million
Loans$49.06 million
Deposits$74.52 million
Equity Capital$8.51 million
Loan Loss Allowance$218,000
Unbacked Noncurrent Loans$99,000
Real Estate Owned$185,000
Historic Data - December 2012
Assets$85.40 million
Equity Capital$8.42 million
Loan Loss Allowance$243,000
Unbacked Noncurrent Loans$99,000
Real Estate Owned$261,000
Profit Margin - Quarterly
Net Interest Margin5.51%
Return on Assets0.91%
Return on Equity9.32%
Interest Income$3.24 million
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South Metro Credit Union Savings Account Rates

0.20%$25k-Share Savings Account
0.20%$25k-Smart Sammie's Savers Club

South Metro Credit Union Checking Account Rates

0.20%$25k-Checking Account

South Metro Credit Union CD Rates

1.85%$50k-12 Month Investors Choice CD
1.50%$10k-6 Month Investors Choice CD
1.15%$1k-36 Month CD
0.80%$1k-24 Month CD
0.75%$1k-12 Month CD
0.65%$1k-6 Month CD

South Metro Credit Union IRA Rates

0.80%--24 Month IRA (Traditional,Roth)
0.75%--12 Month IRA (Traditional,Roth)

South Metro Credit Union Locations
Branch Office2573 Credit Union DrPRIOR LAKE, MN 55372
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