St. Paul Federal named one of the healthiest credit unions in the country
Ranked 19th out of more than 6,000 credit unions nationwide
ST. PAUL, MN (July 15, 2016) — St. Paul Federal Credit Union ($130 million in assets) has been recognized as one of the healthiest credit unions in the country today by DepositAccounts.com. Each institution was graded on a number of factors, including capitalization, deposit growth, and loan to reserve ratios.
“We’re pleased to be recognized for our exceptional results,” said St. Paul Federal CEO Tom Glatt. “Our members know they can count on us to provide exceptional value with some of the best savings and loan rates in the region. We also take protecting their money very seriously.”
In 2015 St. Paul Federal grew more than 10% in market share, more than 10% in total assets, and more than 15% in capital. The credit union’s reserves as a percentage of assets is 25% higher than its national peers.
“By any measure, St. Paul Federal is one of the best credit unions in the country,” said credit union Board Chairman Donald A. Sinna. “We’ve long been the best kept secret in banking for the city of St. Paul, and now the secret is out.”
St. Paul Federal Credit Union was founded in 1953 to serve the members of the International Brotherhood of Electrical Workers Local 110. In 2004 the credit union opened its doors to serve the entire city of St. Paul, Minnesota. Today it has more than $144 million in assets and serves more than 10,000 members.
If you would like more information about this topic, please contact Tom Glatt at 651.783.5100 or email at tglatt@stpaulfcu.org.
About DepositAccounts.com
DepositAccounts.com is the largest and most comprehensive online publication in the U.S. dedicated to banking/savings (deposits) information for consumers. It covers all 12,200 federally insured banks and credit unions and utilizes its patented technology to track more than 225,000 consumer deposit rates, each updated nightly. The site features more than 11,000 editorial articles detailing depository strategies and highlighting current bank rates and offers. It is also home to one of the largest communities of depositors on the Web, hosting more than 100,000 comments, customer reviews, and forum threads.
