Sep, 30, 2025 — SOUTH METRO FEDERAL CREDIT UNION is a federal credit union headquartered in PRIOR LAKE, MN with 6 branch locations and about $170.33 million in total assets. Opened 33 years ago in 1993, SOUTH METRO FEDERAL CREDIT UNION has about 4,913 members and employs 39 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SOUTH METRO FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2573 Credit Union Dr PRIOR LAKE, MN 55372 |
| Phone: | (952) 445-0888 |
| Fax: | (952) 445-6487 |
| Website: | https://www.southmet.com |
| Branches: | 6 branch locations |
| Members: | 4,913 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24482 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1993 |
| Last Audited: | Jun 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $170,334,144 |
| CEO/Manager: | Kent Engler |
| Chairperson: | B Don Crofut |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 15,889,769 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 53,429,659 |
| Unsecured Loans | 4,689,764 |
| Other Loans | 60,011,736 |
| TOTAL LOANS | 118,131,163 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -832,805 |
| Land And Building | 2,321,455 |
| Other Fixed Assets | 871,416 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 976,937 |
| All Other Assets | 0 |
| TOTAL ASSETS | 170,334,144 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 569,108 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 38,989,004 |
| Regular shares | 68,025,737 |
| All Other Shares & Deposits | 51,371,290 |
| TOTAL SHARES & DEPOSITS | 158,386,031 |
| TOTAL LIABILITIES | 158,955,139 |
| Regular Reserve | 0 |
| Other Reserves | -3,558,500 |
| Undivided Earnings | 14,937,505 |
| TOTAL EQUITY | 11,379,005 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 170,334,144 |
| INCOME & EXPENSE | |
| Loan Income | 5,080,842 |
| Investment Income | 877,058 |
| Other Income | 460,472 |
| Total Employee Compensation & Benefits | 3,023,242 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 3,113,669 |
| Non-operating Income & (Expense) | 100,000 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 348,462 |
| Cost of Funds | 1,390,946 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -13,582 |
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