Dec, 31, 2023 — SWEMP FEDERAL CREDIT UNION is a federal credit union headquartered in TEXARKANA, TX with 1 branch location and about $11.22 million in total assets. Opened 78 years ago in 1946, SWEMP FEDERAL CREDIT UNION has about 945 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SWEMP FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 601 OLIVE ST TEXARKANA, TX 75501 |
| Phone: | (903) 793-2274 |
| Fax: | (903) 793-0989 |
| Website: | n/a |
| Branches: | 1 branch locations |
| Members: | 945 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 5325 |
|---|---|
| Membership Type: | Service - Communications and Utilities |
| Corporate Credit Union: | No |
| Year Opened: | 1946 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $11,221,813 |
| CEO/Manager: | BETTY R FERGUSON |
| Chairperson: | DONALD W WILEY |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,840,760 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 377,191 |
| Other Loans | 8,014,139 |
| TOTAL LOANS | 8,391,330 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -7,922 |
| Land And Building | 51,932 |
| Other Fixed Assets | 109,288 |
| NCUSIF Deposit | 90,779 |
| All Other Assets | 0 |
| TOTAL ASSETS | 11,221,813 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 19,276 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 4,836,769 |
| All Other Shares & Deposits | 4,075,636 |
| TOTAL SHARES & DEPOSITS | 8,912,405 |
| TOTAL LIABILITIES | 8,931,681 |
| Regular Reserve | 0 |
| Other Reserves | 176,512 |
| Undivided Earnings | 2,113,620 |
| TOTAL EQUITY | 2,290,132 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 11,221,813 |
| INCOME & EXPENSE | |
| Loan Income | 435,859 |
| Investment Income | 97,716 |
| Other Income | 5,853 |
| Total Employee Compensation & Benefits | 144,788 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 110,175 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 742 |
| Cost of Funds | 110,060 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 173,663 |
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