SouthPoint Financial Credit Union recognized as one of the nation’s healthiest credit unions

in News

SouthPoint Financial Credit Union has been recognized as one of the most financially healthy credit unions in the United States by DepositAccounts.com, ranking 102 out of 5,460 NCUA insured U.S. credit unions.

“We are proud to be recognized as the one of the top 200 healthiest credit unions in the country,” SouthPoint Financial Credit Union CEO Richard Nesvold said. “This is a result of the loyalty of our members/owners as well as the commitment and dedication of our staff serving their financial needs. We know that our members expect great service but they also need to be confident in the health of their financial institution. This shows that their trust in us is warranted.”

DepositAccounts.com evaluates the financial health of over 10,000 banks and credit unions in the United States once per quarter. To determine bank ranking and recognition, DepositAccounts.com grades each institution on a number of factors, including capitalization, deposit growth, and loan-to-reserve ratios.

“We believe it is important to give consumers a way to evaluate the financial health of their institutions,” said Ken Tumin, founder of DepositAccounts.com. “Our list empowers consumers to make informed decisions when selecting a financial institution.”

SouthPoint earned an A+ in the 2019 DepositsAccounts financial health study, making them one of only 11% of all financial institutions to receive this rating.

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