Dec, 31, 2023 — SOUTHWEST FINANCIAL FEDERAL CREDIT UNION is a federal credit union headquartered in FARMERS BRANCH, TX with 1 branch location and about $82.56 million in total assets. Opened 62 years ago in 1962, SOUTHWEST FINANCIAL FEDERAL CREDIT UNION has about 8,810 members and employs 29 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 FINANCIAL FEDERAL CREDIT UNION |
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Address: (Main Office) | 1750 Valley View Ln Ste 110 FARMERS BRANCH, TX 75234-9024 |
Phone: | (214) 630-7111 |
Fax: | (214) 630-7119 |
Website: | https://swfinancial.org |
Branches: | 1 branch locations |
Members: | 8,810 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 15327 |
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Membership Type: | Multiple common bond - Primarily finance, insurance, real estate, trade |
Corporate Credit Union: | No |
Year Opened: | 1962 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $82,562,538 |
CEO/Manager: | Melanie Kennedy |
Chairperson: | Ryan Mesh |
ASSETS: | $ Amount |
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Cash & Equivalents | 3,588,030 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 13,564,244 |
Unsecured Loans | 15,022,009 |
Other Loans | 41,280,392 |
TOTAL LOANS | 69,866,644 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,344,121 |
Land And Building | 0 |
Other Fixed Assets | 1,079,886 |
NCUSIF Deposit | 636,637 |
All Other Assets | 0 |
TOTAL ASSETS | 82,562,538 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 110,634 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,172,288 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 11,913,803 |
Regular shares | 30,452,242 |
All Other Shares & Deposits | 25,962,464 |
TOTAL SHARES & DEPOSITS | 68,328,508 |
TOTAL LIABILITIES | 69,611,430 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 12,951,108 |
TOTAL EQUITY | 12,951,108 |
TOTAL LIABILITIES, SHARES, & EQUITY | 82,562,538 |
INCOME & EXPENSE | |
Loan Income | 5,126,274 |
Investment Income | 285,015 |
Other Income | 1,214,880 |
Total Employee Compensation & Benefits | 2,687,727 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 2,781,651 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 990,227 |
Cost of Funds | 1,550,274 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 18,234 |
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