SouthPoint Celebrates 75 years

SouthPoint Federal Celebrates 75 Years

(Sleepy Eye, MN - March 17, 2011)SouthPoint Federal Credit Union held its 75th Annual Meeting at the Eagles Orchid Inn in Sleepy Eye on March 16, 2011. CEO Richard Nesvold presented the financial statements for 2010, commenting that the credit union remains one of the soundest financial institutions in our region.

The CEO Report was given by Dick Nesvold. He reviewed the financial data for 2010, along with growth data on membership and many of the products and services offered by SouthPoint. Nesvold stated that he felt the outlook for 2011 will be very similar to 2010 - lower loan demand and a continuation of the low interest rate environment. He also reviewed some of the new products and services that will be introduced in 2011. He talked about the commitment of the credit union to the community and noted multiple events/functions that SouthPoint and its staff participate in. Nesvold ended with a congratulations and thank you to the board, staff and most importantly, the membership for the continued support and loyalty through SouthPoint's 75 years of existence.

Also speaking were Rich Gabrielson, CPA with LarsonAllen, Mark Cummins, President and CEO of the MN Credit Union Network and David Ward from the Cooperative Network. Mr. Gabrielson presented the results of the last independent audit of the credit union financial statements. Mr. Cummins provided a history of the credit union movement, both in the United States, but also in Minnesota. He indicated that today, Minnesota has 152 credit unions with $15.6 billion in Assets and 1.5 million members. Mr. Ward presented Gordon Osmonson; Board Chairman of SouthPoint, with a Certificate of Commendation signed by Governor Mark Dayton for SouthPoint's 75th Anniversary of serving the citizens of Sleepy Eye, Springfield and New Ulm and their surrounding communities.

SouthPoint members that attended the meeting brought 211 pounds of food that was donated to the local food shelf. Door prize drawings were held after the business meeting. The winners were as follows:

iPad - Dorinda Roiger
32 inch TV - Loren Renberg
Fire Pit - Bernie Schmidt
Wine Basket - Pat Steffl
Buddy's & 1919 Basket - Sue Forster
Garden Basket - Carol Lochner
Stepping Stone/Bird Feeder - Merlin Fixsen
Fragrance Burner/Coffee Basket - Carol Holm
Wine Basket - Brian Steffensmeier
Schell's Brewery Basket - Dorothy Krzmarzick
Country Basket - Susan Dalsgaard
Bird Feeder - Ken Matties
Water Wind Chime - Cyrilla Turbes