SouthPoint Financial Credit Union


Overview / Commentary
877-794-6712
924 Main St E
Sleepy Eye, MN 56085

SouthPoint Financial Credit Union is headquartered in Sleepy Eye and is the 14th largest credit union in the state of Minnesota. It is also the 724th largest credit union in the nation. It was established in 1936 and as of June of 2020, it had grown to 90 employees and 25,183 members at 8 locations. SouthPoint Financial Credit Union has an A+ health rating.

Field of Membership Restrictions

Membership is open to those who live, work, attend school, worship, or own a business entity in Brown, Blue Earth, Cottonwood, Carver, Faribault, Lyon, Kandiyohi, Le Sueur, Martin, McLeod, Meeker, Murray, Nicollet, Redwood, Renville, Wright, Sibley and Watonwan counties in Minnesota.
See current membership details

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Reviews (2)

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
A+

Health Grade Components

Overall
NCUA #68667
Year Chartered1936
Employees90
Primary Regulator
Profit Margin
Return on Assets - YTD0.38%
Return on Equity - YTD3.04%
Annual Interest Income$6.7MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$407.9MM$358.2MM
LoansQ2 2020vs Q2 2019$308.3MM$280.3MM
DepositsQ2 2020vs Q2 2019$353.8MM$305.3MM
Equity CapitalQ2 2020vs Q2 2019$49.5MM$47.9MM
Loan Loss AllowanceQ2 2020vs Q2 2019$1.5MM$1.0MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$541.00K$775.00K
Real Estate OwnedQ2 2020vs Q2 2019$0$0
Rates

Rates for SouthPoint Financial Credit Union are currently being reviewed.

Locations


SouthPoint Financial Credit Union Locations
Branch Office105 S 3rd St Ste 100Saint Peter, MN 56082
Branch Office975 Central StSpringfield, MN 56087-1133
Corporate Office920 Main St ESleepy Eye, MN 56085-4380
Branch Office706 N German StNew Ulm, MN 56073-1102
Corporate Office924 Main St ESleepy Eye, MN 56085-4380
Branch Office1800 Commerce Dr Ste ANorth Mankato, MN 56003
Branch Office1250 Highway 15 SHutchinson, MN 55350
Branch Office502 Cherry DrWaconia, MN 55387-4578

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