SouthPoint Financial Credit Union
SouthPoint Financial Credit Union is headquartered in Sleepy Eye and is the 15th largest credit union in the state of Minnesota. It is also the 754th largest credit union in the nation. It was established in 1936 and as of June of 2018, it had grown to 82 employees and 20,093 members at 7 locations. SouthPoint Financial Credit Union has an A+ health rating.
Field of Membership Restrictions
Membership is open to those who live, work, attend school or worship in Brown, Blue Earth, Cottonwood, Carver, Faribault, Lyon, Kandiyohi, Le Sueur, Martin, McLeod, Meeker, Murray, Nicollet, Redwood, Renville, Sibley and Watonwan counties in Minnesota.
See current membership details
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Southpoint is way better than my old bank.
I came to Southpoint because I recently moved to the area and there were no branches of my old bank anywhere nearby. So I shopped around for a new bank thinking it would just be more of the same high fee no interest rate banks I was used to. Southpoint was an absolute exception their savings account interest rates are better than any other bank I've used, and they have virtually no fees, and even the fees you would expect to pay are lower than at other institutions. They even have a checking account with a positive interest rate which I have never seen at another bank.
Southpoint is the best bank I have worked with
I am new to the area and was forced to switch from my old bank so far my experience with southpoint has been nothing short of excellent. They have no fee saving and checking accounts. They have a decent interest rate on the saving accounts and everyone is very nice and helpful. We were being killed by overdraft fees at our old bank but the fee structure for ovedraft protection at southpoint is much more reasonable.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 68667 |
| Year Chartered | 1936 |
| Employees | 82 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.44% |
| Return on Equity - YTD | 3.24% |
| Annual Interest Income | $5.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2018vs Q2 2017 | $334.1MM$312.9MM |
| Loans | Q2 2018vs Q2 2017 | $269.2MM$249.9MM |
| Deposits | Q2 2018vs Q2 2017 | $282.5MM$256.6MM |
| Equity Capital | Q2 2018vs Q2 2017 | $45.7MM$44.5MM |
| Loan Loss Allowance | Q2 2018vs Q2 2017 | $921.00K$725.00K |
| Unbacked Noncurrent Loans | Q2 2018vs Q2 2017 | $1.8MM$739.00K |
| Real Estate Owned | Q2 2018vs Q2 2017 | $0$94.00K |
Rates for SouthPoint Financial Credit Union are currently being reviewed.
| SouthPoint Financial Credit Union Locations | ||
|---|---|---|
| Branch Office | 105 S 3rd St Ste 100 | Saint Peter, MN 56082 |
| Branch Office | 975 Central St | Springfield, MN 56087-1133 |
| Corporate Office | 920 Main St E | Sleepy Eye, MN 56085-4380 |
| Branch Office | 706 N German St | New Ulm, MN 56073-1102 |
| Corporate Office | 924 Main St E | Sleepy Eye, MN 56085-4380 |
| Branch Office | 1800 Commerce Dr Ste A | North Mankato, MN 56003 |
| Branch Office | 1250 Highway 15 S | Hutchinson, MN 55350 |