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SOUTHWEST HERITAGE CREDIT UNION

Dec, 31, 2023 — SOUTHWEST HERITAGE CREDIT UNION is a federally insured state chartered credit union headquartered in ODESSA, TX with 5 branch locations and about $223.22 million in total assets. Opened 75 years ago in 1949, SOUTHWEST HERITAGE CREDIT UNION has about 12,999 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 HERITAGE CREDIT UNION
Address:
(Main Office)
4100 Faudree Rd
ODESSA, TX 79765
Phone:(432) 250-6040
Fax:(432) 561-9536
Website:https://www.southwestheritagecu.com
Branches:5 branch locations
Members:12,999
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:60533
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1949
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$223,216,580
CEO/Manager:Ronny Haynes
Chairperson:Edgar Baiza Jr

Call Report

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 16,310,969
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 49,208,175
 Unsecured Loans 3,069,606
 Other Loans 113,001,012
 TOTAL LOANS 165,725,570
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,130,526
 Land And Building 4,488,148
 Other Fixed Assets 616,293
 NCUSIF Deposit 1,521,296
 All Other Assets 766,772
  TOTAL ASSETS 223,216,580
LIABILITIES & CAPITAL:  
 Dividends Payable 34,899
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,934,504
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 52,747,793
 Regular shares 58,126,580
 All Other Shares & Deposits 82,998,387
  TOTAL SHARES & DEPOSITS 193,872,760
  TOTAL LIABILITIES 195,842,163
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 27,374,417
  TOTAL EQUITY 27,374,417
  TOTAL LIABILITIES, SHARES, & EQUITY 223,216,580
INCOME & EXPENSE  
 Loan Income 9,204,750
 Investment Income 661,913
 Other Income 2,736,972
 Total Employee Compensation & Benefits 5,064,592
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,744,994
 Non-operating Income & (Expense) 44,868
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 232,936
 Cost of Funds 2,035,879
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 2,798,038
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