SouthPoint Federal Credit Union held its 77th Annual Meeting at the Eagles Orchid Inn in Sleepy Eye on March 19.
CEO Richard Nesvold presented the financial statements for 2012, commenting that the credit union remains one of the soundest financial institutions in our region. He reviewed the financial data for year-end Dec. 31, 2012, along with growth data on membership, assets, loan and deposits.
Nesvold stated that SouthPoint is ranked as the 16th largest credit union in the state by asset size. He reviewed a few of the initiatives SouthPoint has for 2013 and talked about one of the newest services offered by SouthPoint, SouthPoint Financial Services.
Also speaking was Rich Gabrielson, with Clifton Larson Allen, Bob Skillings with SouthPoint Financial Services and Patrick ‘Red’ Mastin, Cetera Advisor Networks, LLC.
Gabrielson presented the results of the last independent audit of the credit union financial statements.
Skillings described the services offered by SouthPoint Financial Services, including a variety of investment, insurance and planning options.
Mastin informed the group that his job is to offer support services to credit unions with investment centers. He then proceeded to give a presentation explaining the current conditions of the federal budget.
Door prize drawings were held after the business meeting.