SouthPoint Financial Credit Union
SouthPoint Financial Credit Union is headquartered in Sleepy Eye and is the 12th largest credit union in the state of Minnesota. It is also the 690th largest credit union in the nation. It was established in 1936 and as of March of 2025, it had grown to 99 employees and 32,958 members at 9 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 the Minnesota counties of Blue Earth, Brown, Carver, Cottonwood, Faribault, Freeborn, Kandiyohi, Le Sueur, Lyon, Martin, McLeod, Meeker, Murray, Nicollet, Redwood, Renville, Rice, Scott, Sibley, Steele, Waseca, Watonwan, or Wright.
See current membership details
Watch These People Very Closely!
My credit union is 50 miles from where I now live. I decided to open a local account at Southpoint Financial Credit Union. They performed a hard pull on my credit through Equifax. I was NOT APPLYING FOR A LOAN OF ANY SORT. I only opened a checking/savings account. This is not accepted practice, believe me, I checked with other local banks and credit unions. I had a 768 Equifax score before I walked into their office. I walked out with a 756. All 3 of the reporting agencies had my score at that 768-770 range. The lady who did this said not to worry because it will bounce back. A 12 point sudden drop does not bounce back. I can't tell you how fucking pissed I am. WATCH THESE PEOPLE, DO NOT TRUST THEM!!!
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 68667 |
| Year Chartered | 1936 |
| Employees | 99 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.5% |
| Return on Equity - YTD | 4.78% |
| Annual Interest Income | $6.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $578.3MM$545.7MM |
| Loans | Q1 2025vs Q1 2024 | $422.6MM$394MM |
| Deposits | Q1 2025vs Q1 2024 | $487MM$457.5MM |
| Equity Capital | Q1 2025vs Q1 2024 | $60.8MM$57.2MM |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $1.5MM$2MM |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $809K$635K |
| Real Estate Owned | Q1 2025vs Q1 2024 | $0$0 |