SouthPoint Federal has recently received a financial strength rating of “A” or “Excellent” again from Weiss Ratings, the nation’s leading independent provider of ratings and analysis of financial service companies, mutual funds, and stocks. In 2012, only 4.8 percent of the nation’s 7000+ credit unions earned the “A” rating.
Every quarter Weiss Ratings evaluates the financial strength of more than 19,000 institutions, including life and annuity insurers, health insurers, property and casualty insurers, banks and credit unions. This rating recognizes SouthPoint Federal Credit Union as a “Weiss Recommended” credit union offering outstanding financial stability for its members, vendors and employees.
Weiss Ratings’ proprietary model uses more rigorous standards than other rating agencies, placing greater emphasis on a company’s future financial solvency. For this reason, SouthPoint’s financial strength rating demonstrates itself to be among the industry’s elite.