SouthPoint Financial Credit Union has been recognized as one of the most financially healthy credit unions in the United States by DepositAccounts.com, ranking 42 out of 6,293 NCUA insured U.S. credit unions.
“This recognition is the direct result of the loyalty of our member-owners, as well as the dedication and commitment of our staff to helping them achieve their financial goals,” SouthPoint CEO and President Jay Gostonczik said. “We are extremely proud to be Minnesota’s only-ranked credit union to make the top 50.”
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 was the only Minnesota credit union to rank in the top 50 of this financial evaluation.