Sharepoint Credit Union is headquartered in Bloomington and is the 18th largest credit union in the state of Minnesota. It is also the 979th largest credit union in the nation. It was established in 1933 and as of June of 2021, it had grown to 56 employees and 22,187 members at 6 locations. Sharepoint Credit Union's savings rates are 6X the national average, and it boasts an A+ health rating.
Field of Membership Restrictions
Membership in Share Point Credit Union is open to anyone who lives, works, worships, attends school, or conducts business in the Minnesota counties of Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, Washington, or Wright. Membership is also open to employees of more than 80 area companies and organizations.
See current membership details
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The Checking Rate Is A Great Deal
Yes, the 5 % APY is only for the first year and only for the first 2500 dollars, however this is a great deal. Remember that mortgage rates are at 3.75 APR. CDs are paying less than 1% APY for this reason. Of course the CU would go bankrupt very quickly if it was paying 5 percent interest and loaning money out at 4 percent. Its simple math.
The 5 percent APY is a reward you get for trying them out. Basically, they are paying you 125 dollars to bank with them for a year. This is a great deal because many commercial banks are now charging you money just to have a checking account.
Update Note
Small print $50 minimum direct deposit required each month on 3% eSavings Account.
Data as of Q2 2021
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 63098 |
| Year Chartered | 1933 |
| Employees | 56 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.67% |
| Return on Equity - YTD | 6.26% |
| Annual Interest Income | $3.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2021vs Q2 2020 | $292.1MM$265.2MM |
| Loans | Q2 2021vs Q2 2020 | $166.3MM$179.7MM |
| Deposits | Q2 2021vs Q2 2020 | $258.6MM$232.7MM |
| Equity Capital | Q2 2021vs Q2 2020 | $30.9MM$29.3MM |
| Loan Loss Allowance | Q2 2021vs Q2 2020 | $1.9MM$1.9MM |
| Unbacked Noncurrent Loans | Q2 2021vs Q2 2020 | $403.00K$582.00K |
| Real Estate Owned | Q2 2021vs Q2 2020 | $0$0 |