Dec, 31, 2020 — SOUTHWEST OKLAHOMA FEDERAL CREDIT UNION is a federal credit union headquartered in LAWTON, OK with 2 branch locations and about $109.03 million in total assets. Opened 63 years ago in 1958, SOUTHWEST OKLAHOMA FEDERAL CREDIT UNION has about 5,614 members and employs 16 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 OKLAHOMA FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1806 NW LIBERTY AVE LAWTON, OK 73507 |
| Phone: | (580) 353-0490 |
| Fax: | (580) 353-5068 |
| Website: | http://www.swofcu.com |
| Branches: | 2 branch locations |
| Members: | 5,614 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 12271 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1958 |
| Last Audited: | Jun 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $109,031,842 |
| CEO/Manager: | Emmett Meraz |
| Chairperson: | Kelly McClure |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 18,281,909 |
| TOTAL INVESTMENTS | 20,590,023 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 21,591,424 |
| Unsecured Loans | 12,088,870 |
| Other Loans | 33,673,924 |
| TOTAL LOANS | 67,354,218 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -319,530 |
| Land And Building | 1,344,576 |
| Other Fixed Assets | 153,708 |
| NCUSIF Deposit | 852,936 |
| All Other Assets | 774,002 |
| TOTAL ASSETS | 109,031,842 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 840,536 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 23,494,984 |
| Regular shares | 54,826,616 |
| All Other Shares & Deposits | 15,634,302 |
| TOTAL SHARES & DEPOSITS | 93,955,902 |
| TOTAL LIABILITIES | 94,796,438 |
| Regular Reserve | 1,647,536 |
| Other Reserves | 709,228 |
| Undivided Earnings | 11,878,640 |
| TOTAL EQUITY | 14,235,404 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 109,031,842 |
| INCOME & EXPENSE | |
| Loan Income | 3,462,879 |
| Investment Income | 336,587 |
| Other Income | 959,742 |
| Total Employee Compensation & Benefits | 1,216,942 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,042,404 |
| Non-operating Income & (Expense) | -6,960 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 126,081 |
| Cost of Funds | 194,128 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,172,693 |
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