Dec, 31, 2023 — SOUTHWEST LOUISIANA CREDIT UNION (SWLACU) is a federally insured state chartered credit union headquartered in LAKE CHARLES, LA with 4 branch locations and about $171.97 million in total assets. Opened 72 years ago in 1952, SOUTHWEST LOUISIANA CREDIT UNION (SWLACU) has about 18,741 members and employs 71 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | SOUTHWEST LOUISIANA CREDIT UNION |
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Address: (Main Office) | 2255 E McNeese St LAKE CHARLES, LA 70607 |
Phone: | (337) 477-9190 |
Fax: | |
Website: | https://www.swlacu.com |
Branches: | 4 branch locations |
Members: | 18,741 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 62756 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1952 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $171,969,480 |
CEO/Manager: | Chad Miller |
Chairperson: | Robert Collins |
ASSETS: | $ Amount |
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Cash & Equivalents | 2,649,060 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 50,011,618 |
Unsecured Loans | 17,022,673 |
Other Loans | 63,137,932 |
TOTAL LOANS | 135,318,675 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,915,165 |
Land And Building | 8,615,600 |
Other Fixed Assets | 936,539 |
NCUSIF Deposit | 1,413,739 |
All Other Assets | 64,250 |
TOTAL ASSETS | 171,969,480 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 2,786 |
Notes & Interest Payable | 1,374,157 |
Accounts Payable & Other Liabilities | 4,892,818 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 3,500,000 |
Share Drafts | 23,923,593 |
Regular shares | 81,780,071 |
All Other Shares & Deposits | 35,927,138 |
TOTAL SHARES & DEPOSITS | 141,630,801 |
TOTAL LIABILITIES | 151,400,562 |
Regular Reserve | 0 |
Other Reserves | 3,371,255 |
Undivided Earnings | 17,197,663 |
TOTAL EQUITY | 20,568,918 |
TOTAL LIABILITIES, SHARES, & EQUITY | 171,969,480 |
INCOME & EXPENSE | |
Loan Income | 8,612,353 |
Investment Income | 382,705 |
Other Income | 2,864,489 |
Total Employee Compensation & Benefits | 5,312,083 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 5,519,124 |
Non-operating Income & (Expense) | 500,345 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,538,132 |
Cost of Funds | 1,417,177 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 865,377 |
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