Jun, 30, 2021 — SOUTHWEST FINANCIAL FEDERAL CREDIT UNION is a federal credit union headquartered in Farmers Branch, TX with 1 branch location and about $74.69 million in total assets. Opened 59 years ago in 1962, SOUTHWEST FINANCIAL FEDERAL CREDIT UNION has about 9,902 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 Lane #110 Farmers Branch, TX 75234-9024 |
| Phone: | (214) 630-7111 |
| Fax: | (214) 630-7119 |
| Website: | http://swfinancial.org |
| Branches: | 1 branch locations |
| Members: | 9,902 |
| 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: | $74,688,930 |
| CEO/Manager: | Melanie Kennedy |
| Chairperson: | Jim White |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,675,344 |
| TOTAL INVESTMENTS | 10,646,510 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 5,251,584 |
| Unsecured Loans | 10,696,562 |
| Other Loans | 39,830,745 |
| TOTAL LOANS | 55,778,891 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,116,302 |
| Land And Building | 0 |
| Other Fixed Assets | 527,702 |
| NCUSIF Deposit | 582,225 |
| All Other Assets | 3,594,560 |
| TOTAL ASSETS | 74,688,930 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 10,772 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,283,493 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 11,433,651 |
| Regular shares | 32,651,561 |
| All Other Shares & Deposits | 17,076,900 |
| TOTAL SHARES & DEPOSITS | 61,162,112 |
| TOTAL LIABILITIES | 62,456,377 |
| Regular Reserve | 6,091,480 |
| Other Reserves | 1,288,402 |
| Undivided Earnings | 4,852,671 |
| TOTAL EQUITY | 12,232,553 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 74,688,930 |
| INCOME & EXPENSE | |
| Loan Income | 2,165,681 |
| Investment Income | 38,598 |
| Other Income | 469,537 |
| Total Employee Compensation & Benefits | 1,038,924 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,238,238 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 321,259 |
| Cost of Funds | 96,827 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 885,762 |
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