Jun, 30, 2024 — SOUTHWEST FINANCIAL FEDERAL CREDIT UNION is a federal credit union headquartered in FARMERS BRANCH, TX with 1 branch location and about $81.32 million in total assets. Opened 62 years ago in 1962, SOUTHWEST FINANCIAL FEDERAL CREDIT UNION has about 9,256 members and employs 28 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 |
|---|---|
| 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: | 9,256 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 15327 |
|---|---|
| Membership Type: | Multiple common bond - Primarily finance, insurance, real estate, trade |
| Corporate Credit Union: | No |
| Year Opened: | 1962 |
| Last Audited: | Feb 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $81,315,011 |
| CEO/Manager: | Melanie Kennedy |
| Chairperson: | Jim White |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,909,511 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 10,908,552 |
| Unsecured Loans | 12,277,510 |
| Other Loans | 39,746,889 |
| TOTAL LOANS | 62,932,951 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,561,596 |
| Land And Building | 0 |
| Other Fixed Assets | 496,122 |
| NCUSIF Deposit | 601,593 |
| All Other Assets | 0 |
| TOTAL ASSETS | 81,315,011 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 32,377 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,386,399 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 11,891,022 |
| Regular shares | 31,926,992 |
| All Other Shares & Deposits | 22,839,653 |
| TOTAL SHARES & DEPOSITS | 66,657,667 |
| TOTAL LIABILITIES | 68,076,443 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 13,238,568 |
| TOTAL EQUITY | 13,238,568 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 81,315,011 |
| INCOME & EXPENSE | |
| Loan Income | 3,372,421 |
| Investment Income | 103,515 |
| Other Income | 954,009 |
| Total Employee Compensation & Benefits | 1,802,617 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,941,626 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 941,066 |
| Cost of Funds | 160,094 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 777,630 |
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