Sep, 30, 2025 — SOUTHERNMOST FEDERAL CREDIT UNION is a federal credit union headquartered in KEY WEST, FL with 1 branch location and about $15.79 million in total assets. Opened 72 years ago in 1954, SOUTHERNMOST FEDERAL CREDIT UNION has about 1,236 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SOUTHERNMOST FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1004 Kennedy Dr KEY WEST, FL 33040-4019 |
| Phone: | (305) 296-6568 |
| Fax: | |
| Website: | https://www.smfcu.net |
| Branches: | 1 branch locations |
| Members: | 1,236 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 9105 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Mar 01, 2025 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $15,790,493 |
| CEO/Manager: | Gladys C Bethel |
| Chairperson: | Bruce T Winegarden |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,286,498 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 2,379,771 |
| Other Loans | 8,774,443 |
| TOTAL LOANS | 11,154,214 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -40,823 |
| Land And Building | 852,404 |
| Other Fixed Assets | 135,332 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 122,826 |
| All Other Assets | 0 |
| TOTAL ASSETS | 15,790,493 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,300 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 232,046 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,120,155 |
| Regular shares | 11,326,748 |
| All Other Shares & Deposits | 103,035 |
| TOTAL SHARES & DEPOSITS | 12,549,938 |
| TOTAL LIABILITIES | 12,783,284 |
| Regular Reserve | 0 |
| Other Reserves | 462,715 |
| Undivided Earnings | 2,544,494 |
| TOTAL EQUITY | 3,007,209 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 15,790,493 |
| INCOME & EXPENSE | |
| Loan Income | 499,556 |
| Investment Income | 97,910 |
| Other Income | 101,959 |
| Total Employee Compensation & Benefits | 389,051 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 290,268 |
| Non-operating Income & (Expense) | 30 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 17,136 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 19,250 |
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