SouthPoint holds annual meeting

SLEEPY EYE – SouthPoint Federal Credit Union continues to grow, according to figures released Tuesday at the organization’s 78th annual meeting at the Eagles Orchid Inn.

Membership reached 12,399 in 2013, up 4 1/2 percent from 10,861 in 2012, according to SouthPoint CEO Dick Nesvold, who is in his 25th year at the credit union.

SouthPoint is the second-largest Minnesota credit union outside the Twin Cities metro area.

Total loans to members reached $179,228,757 in 2013, up 9 percent from 2012. Total assets in 2013 were $263,663.568, up 7 percent from 2012.

“Checking use fell and debit card use rose last year,” Nesvold said. “We had more than 5,000 online banking transactions in 2013.

SouthPoint is considering building a new administrative office just northeast of its Sleepy Eye location on east Main Street. “It’s still in the planning stages,” Nesvold said.

Mark Bruggeman, Scott Surprenant and Jeff Ibberson were re-elected SouthPoint directors.

SouthPoint also offers financial and estate planning services with Bob Skillings as its representative.

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