Sioux Falls Federal Credit Union is headquartered in Sioux Falls and is the 3rd largest credit union in the state of South Dakota. It is also the 807th largest credit union in the nation. It was established in 1934 and as of June of 2020, it had grown to 106 employees and 30,658 members at 5 locations. Sioux Falls Federal Credit Union has an A health rating.
Field of Membership Restrictions
Membership in Sioux Falls Federal Credit Union is open to anyone who lives, works, worships, or attends school in the South Dakota counties of Minnehaha, Lincoln, McCook or Turner, and to immediate family of existing members.
See current membership details
Petty Issues, No Value For Their Customers
I have a loan with them and I sent the monthly payment of 175.50. I got a late charge for $10.10 days later. I have never missed a payment. I checked and the check had cleared the bank. When I called them, I was told by the customer service rep that the payment was supposed to be 175.60, I had been ten cents short. She asked if I wanted to drive across town to make the payment of ten cents and then she would remove the $10 charge! DON"T GO TO THEM FOR A LOAN. How sad, I asked if she wanted my credit card to charge the .10 on, she did not want to do that though.
Data as of Q2 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 60 |
| Year Chartered | 1934 |
| Employees | 106 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.4% |
| Return on Equity - YTD | 14.66% |
| Annual Interest Income | $5.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2020vs Q2 2019 | $347.6MM$297.7MM |
| Loans | Q2 2020vs Q2 2019 | $168.2MM$176.4MM |
| Deposits | Q2 2020vs Q2 2019 | $309.3MM$261.1MM |
| Equity Capital | Q2 2020vs Q2 2019 | $31.6MM$30.8MM |
| Loan Loss Allowance | Q2 2020vs Q2 2019 | $1.6MM$1.2MM |
| Unbacked Noncurrent Loans | Q2 2020vs Q2 2019 | $1.7MM$1.1MM |
| Real Estate Owned | Q2 2020vs Q2 2019 | $260.00K$0 |