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Celebrating 90 years of SouthPoint Credit Union

By Amy Zents 4 min read

NEW ULM -- SouthPoint Financial Credit Union celebrated its 90th anniversary under clouds and light drizzle on Saturday afternoon at the Brown County Fairgrounds.

The weather did not dampen attendance.

Long lines formed as crowd members gathered for free food, complimentary bottled water and cold treats from the shake truck. Children enjoyed a wide variety of activities, including face painting and multiple bouncy castles. 

Live entertainment was provided by Hicktown Mafia, a regional country-rock band that kept attendees listening and dancing throughout the day. 

Free shuttle buses brought attendees from Hutchinson, Waconia, and Buffalo.

​Graci Graham works as a member advisor in Waconia.

​”We’ve got food in the entertainment hall and live music,' Graham said. "We’ve got shakes in a shake truck over there and bouncy castles for the kids.”

​Graham said eight branches were represented at the celebration: Sleepy Eye, Springfield, New Ulm, St. Peter, North Mankato, Hutchinson, Waconia, and Buffalo.

​Inside the main tent, vendor stations showcased credit union services, including online and mobile banking, agricultural lending, investment services, and human resources. 

Staff members were on hand to answer questions, share information, and connect with attendees on what was on their minds regarding their personal and agricultural finances.

Travis Neidecker works at the SouthPoint administrative building in Sleepy Eye.

“We just have what we’re calling vendor booths. Each booth has its own specialized area,” Neidecker said. “This is the digital booth. We’re doing online banking, mobile banking. There’s ag lending, investment services, HR, our hiring team. We’re all different booths.”

Jane Connell traveled from Hutchinson for the celebration, joining in the fun as an adult getting her face painted like a tiger in the children’s area.

Long-time members also gathered to celebrate the milestone. Friends Marveen Drill and Jean Lindmeyer attended the event together. 

Drill, who lives in New Ulm, joined the credit union in the 1960s when it was known as St. Mary’s Credit Union and recalled attending large annual dinners hosted at the Orchid Inn. She said she regularly uses the local New Ulm location right down the street.

​”I live right below them, so I can walk up to their ATM machine in my slippers and housecoat,” Drill said, adding she has walked up to the location many times to pick up cash.

​Ninety years represents nearly a century of steady growth and community support. SouthPoint Financial Credit Union, originally St. Mary’s Credit Union, was founded in Sleepy Eye on April 21, 1936, by eight members of St. Mary’s Parish during the Great Depression. 

What began as a modest parish cooperative with eight founders has grown into a strong, sustainable financial staple serving tens of thousands of local members. 

The credit union expanded into New Ulm in 2006, opening its local branch to meet rising regional demand.

In 1940, the fledgling institution served 172 members with $12,000 in assets and an unsecured loan limit of $750. By 1970, membership reached 1,900 with $2.7 million in assets.

​The name changed to St. Mary’s Parish Credit Union in 1970. The organization converted to a federal charter as St. Mary’s Federal Credit Union on Jan. 3, 2002, and changed its name to SouthPoint Federal Credit Union on Sept. 15, 2005. 

SouthPoint became a state-chartered credit union under its current name in 2015.

​That trajectory accelerated over the last decade. Assets grew to over $300 million in 2016 and surpassed $500 million by 2021. 

Membership reached 20,000 in 2018 and climbed past 30,000 in 2023. 

A 2025 charter expansion broadened its field of membership to 30 Minnesota counties: Blue Earth, Brown, Carver, Chippewa, Cottonwood, Dakota, Faribault, Freeborn, Goodhue, Kandiyohi, Lac qui Parle, Le Sueur, Lyon, Martin, McLeod, Meeker, Murray, Nicollet, Redwood, Renville, Rice, Scott, Sherburne, Sibley, Stearns, Steele, Waseca, Watonwan, Wright, and Yellow Medicine.

​As a non-profit financial cooperative, SouthPoint distributes profits back to its member-owners through lower loan rates, reduced fees, and higher savings yields. 

Highlighting its ongoing community investment, SouthPoint also secured a 15-year naming rights partnership on April 6, 2026, for the SouthPoint Recreation & Wellness Center in New Ulm.

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