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SOUTHWEST AIRLINES FEDERAL CREDIT UNION

Dec, 31, 2023 — SOUTHWEST AIRLINES FEDERAL CREDIT UNION is a federal credit union headquartered in Dallas, TX with 4 branch locations and about $776.39 million in total assets. Opened 49 years ago in 1975, SOUTHWEST AIRLINES FEDERAL CREDIT UNION has about 58,819 members and employs 114 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 AIRLINES FEDERAL CREDIT UNION
Address:
(Main Office)
PO Box 35708
Dallas, TX 75235
Phone:(214) 357-5577
Fax:(214) 956-3991
Website:https://www.swacu.org
Branches:4 branch locations
Members:58,819
Credit Union Type:Federal Credit Union
Charter Number:22157
Membership Type:Multiple common bond - Primarily transportation
Corporate Credit Union:No
Year Opened:1975
Last Audited:Aug 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$776,385,622
CEO/Manager:Cynde Jones
Chairperson:Scott Johnson

Call Report

  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,715,153
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 253,403,008
 Unsecured Loans 133,393,443
 Other Loans 217,833,440
 TOTAL LOANS 604,629,891
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -3,758,985
 Land And Building 7,611,527
 Other Fixed Assets 1,909,519
 NCUSIF Deposit 6,434,065
 All Other Assets 201,615
  TOTAL ASSETS 776,385,622
LIABILITIES & CAPITAL:  
 Dividends Payable 1,977,308
 Notes & Interest Payable 48,910,000
 Accounts Payable & Other Liabilities 9,053,519
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 309,412,870
 Regular shares 151,972,036
 All Other Shares & Deposits 172,033,752
  TOTAL SHARES & DEPOSITS 633,418,658
  TOTAL LIABILITIES 693,359,485
 Regular Reserve 0
 Other Reserves -8,299,407
 Undivided Earnings 91,325,544
  TOTAL EQUITY 83,026,137
  TOTAL LIABILITIES, SHARES, & EQUITY 776,385,622
INCOME & EXPENSE  
 Loan Income 29,285,629
 Investment Income 13,875,134
 Other Income 9,157,234
 Total Employee Compensation & Benefits 12,914,768
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 10,815,499
 Non-operating Income & (Expense) 586,114
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 4,362,422
 Cost of Funds 21,152,758
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 3,658,664
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