Dec, 31, 2021 — SOUTHERN FEDERAL CREDIT UNION is a federal credit union headquartered in HOUSTON, TX with 1 branch location and about $86.41 million in total assets. Opened 68 years ago in 1954, SOUTHERN FEDERAL CREDIT UNION has about 3,592 members and employs 7 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | SOUTHERN FEDERAL CREDIT UNION |
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Address: (Main Office) | 1414 Enclave Pkwy Ste 250 HOUSTON, TX 77077-2023 |
Phone: | (713) 232-7774 |
Fax: | (713) 232-7122 |
Website: | http://www.southernfederalcu.org |
Branches: | 1 branch locations |
Members: | 3,592 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 9214 |
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Membership Type: | Multiple common bond - Primarily other manufacturing |
Corporate Credit Union: | No |
Year Opened: | 1954 |
Last Audited: | Dec 01, 2020 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $86,414,325 |
CEO/Manager: | Shalonda Dawkins |
Chairperson: | Joe M Adams |
ASSETS: | $ Amount |
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Cash & Equivalents | 17,150,172 |
TOTAL INVESTMENTS | 36,783,307 |
Loans Held for Sale | 0 |
Real Estate Loans | 0 |
Unsecured Loans | 4,437,963 |
Other Loans | 27,824,511 |
TOTAL LOANS | 32,262,474 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,193,295 |
Land And Building | 0 |
Other Fixed Assets | 290,346 |
NCUSIF Deposit | 542,145 |
All Other Assets | 579,176 |
TOTAL ASSETS | 86,414,325 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 605,937 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 5,776,170 |
Regular shares | 36,409,780 |
All Other Shares & Deposits | 11,874,074 |
TOTAL SHARES & DEPOSITS | 54,060,024 |
TOTAL LIABILITIES | 54,665,961 |
Regular Reserve | 503,626 |
Other Reserves | 0 |
Undivided Earnings | 31,244,738 |
TOTAL EQUITY | 31,748,364 |
TOTAL LIABILITIES, SHARES, & EQUITY | 86,414,325 |
INCOME & EXPENSE | |
Loan Income | 2,032,831 |
Investment Income | 108,321 |
Other Income | 178,116 |
Total Employee Compensation & Benefits | 704,181 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 667,085 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 565,000 |
Cost of Funds | 419,899 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 200,485 |
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