Who We Are

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South Metro Federal Credit Union was established in 1993, as a member-owned, not-for-profit financial cooperative for everyone living or working in Scott County, Minnesota. We are proud to be in one of Minnesota's fastest growing counties, and eager for the opportunity to serve our membership. 

South Metro Federal Credit Union was issued a Charter of Organization on September  21, 1993 by the National Credit Union Association. As a credit union with a  community charter, our field of membership comprises Scott County, Minnesota. Our  sponsor, the Shakopee Mdewakanton Sioux (Dakota) Community was instrumental in  the initial support in establishing the institution.

Our Mission
South Metro Federal Credit Union is a member-owned financial cooperative which provides financial products, services and education enabling Members to achieve personal and financial goals and improve their quality of life.

SMFCU Core Values and Core Purpose

South Metro Federal Credit Union has adopted a set of "Core Values" those guiding precepts that we believe will never change regardless of how the business environment evolves. They are:

• Provide a "safe haven" for our members' funds such that their money will never be subject to extraordinary risk.
• Assure non-discriminatory treatment of all classes of members.
• Value individual employee productivity, creativity and innovation.
• Assure integrity in the handling of all business transactions.
• Recognize "respect" as a valued commodity to be given to our members and earned from the community.
• Make every reasonable effort to serve member needs.

Your Deposits are Safe with Us!
   Your deposits are insured up to $250,000. The first $100,000.00 is insured the National Credit Union Administration (NCUA), an agency of the U.S. government. The remainder of the coverage is provided by Excess Share Insurance (ESI). 

What is a Credit Union?

A credit union is a non-profit, member-owned financial institution governed by its members. Since there are no outside stockholders, all earnings are retained in the credit union.

Credit unions generally pay higher returns on savings and charge lower interest rates on loans than other financial institutions. Once operating expense and reserve requirements are satisfied, the income generated by loans and investments is returned to the members in the form of dividends and expanded low-cost services.

The Credit Union Difference

As a credit union member, you are not a "customer" but part-owner of a financial cooperative in which all the members pool their resources to help one another.

Credit Unions are dedicated to the principle of "People helping people," and have a not-for-profit tax status similar to churches, charities and other groups that work to better the lives of those involved. South Metro Federal Credit Union is directed by a volunteer board, elected by the membership, which is entrusted to keep the members' best interests in mind, every day, all year long.

Credit Unions reinvest their income to improve the financial well-being of the entire organization and each individual member. This is why they are known for their reasonable loan rates and fair return on savings. Your account will never be sold to an out-of-state bank. You will always have a voice regarding the direction of your financial institution. Credit unions also have a special commitment to reach out to persons who might otherwise be unable to obtain affordable financial services elsewhere.