Dec, 31, 2021 — SOUTHWEST FINANCIAL FEDERAL CREDIT UNION is a federal credit union headquartered in FARMERS BRANCH, TX with 1 branch location and about $74.34 million in total assets. Opened 60 years ago in 1962, SOUTHWEST FINANCIAL FEDERAL CREDIT UNION has about 9,625 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: | http://swfinancial.org |
| Branches: | 1 branch locations |
| Members: | 9,625 |
| 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: | Jan 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $74,340,280 |
| CEO/Manager: | Melanie Kennedy |
| Chairperson: | Jim White |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,917,005 |
| TOTAL INVESTMENTS | 11,144,510 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 7,845,573 |
| Unsecured Loans | 11,548,388 |
| Other Loans | 39,153,957 |
| TOTAL LOANS | 58,547,918 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,144,072 |
| Land And Building | 0 |
| Other Fixed Assets | 539,405 |
| NCUSIF Deposit | 605,538 |
| All Other Assets | 3,729,976 |
| TOTAL ASSETS | 74,340,280 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 10,622 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,106,471 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 11,458,396 |
| Regular shares | 32,288,255 |
| All Other Shares & Deposits | 17,015,598 |
| TOTAL SHARES & DEPOSITS | 60,762,249 |
| TOTAL LIABILITIES | 61,879,342 |
| Regular Reserve | 6,091,480 |
| Other Reserves | 1,288,402 |
| Undivided Earnings | 5,081,056 |
| TOTAL EQUITY | 12,460,938 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 74,340,280 |
| INCOME & EXPENSE | |
| Loan Income | 4,397,884 |
| Investment Income | 138,832 |
| Other Income | 1,121,786 |
| Total Employee Compensation & Benefits | 2,186,433 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,398,186 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 714,357 |
| Cost of Funds | 1,091,243 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,114,145 |
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