I got a laugh out of the press release that came from the mayor’s office on Friday. It announced that residents in little old Sioux Falls had the highest average credit score in the nation. The claim was based on credit reporting agency Experian’s 2012 State of Credit report.
First, that particular report is more than two months old. Read it here.
Next, once you’ve read it, or even skimmed it, you’ll note that the mayor’s press release is inaccurate. Sioux Falls is not ranked first. We are ranked fourth. Minneapolis is ranked first.
The press release says that we were followed on the list by Dallas-Fort Worth and Waco, Texas. No, we weren’t followed by them. We were followed by Cedar Rapids, Iowa and San Francisco. Dallas and Waco don’t make the top 10 list.
Finally, here’s the particularly funny part, given the mayor’s former career in the subprime credit industry: The press release quoted Mayor Huether saying, “Folks in Sioux Falls and South Dakota are cautious and conservative with their resources and this No. 1 ranking proves how ‘money-wise’ we truly are.”