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SOUTHERN FEDERAL CREDIT UNION

Sep, 30, 2021 — SOUTHERN FEDERAL CREDIT UNION is a federal credit union headquartered in Houston, TX with 1 branch location and about $87.81 million in total assets. Opened 67 years ago in 1954, SOUTHERN FEDERAL CREDIT UNION has about 3,618 members and employs 8 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
Address:
(Main Office)
P.O. Box 2765
Houston, TX 77252-2765
Phone:(713) 232-7774
Fax:(713) 232-7122
Website:http://www.southernfederalcu.org
Branches:1 branch locations
Members:3,618
Credit Union Type:Federal Credit Union
Charter Number:9214
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:$87,808,732
CEO/Manager:Shalonda Dawkins
Chairperson:Joe M Adams

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 17,132,433
TOTAL INVESTMENTS 36,805,307
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 4,779,029
 Other Loans 28,868,862
 TOTAL LOANS 33,647,891
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,185,339
 Land And Building 0
 Other Fixed Assets 297,260
 NCUSIF Deposit 540,602
 All Other Assets 570,578
  TOTAL ASSETS 87,808,732
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 586,395
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 6,002,743
 Regular shares 37,268,293
 All Other Shares & Deposits 12,230,211
  TOTAL SHARES & DEPOSITS 55,501,247
  TOTAL LIABILITIES 56,087,642
 Regular Reserve 503,626
 Other Reserves 0
 Undivided Earnings 31,217,464
  TOTAL EQUITY 31,721,090
  TOTAL LIABILITIES, SHARES, & EQUITY 87,808,732
INCOME & EXPENSE  
 Loan Income 1,554,507
 Investment Income 89,423
 Other Income 130,314
 Total Employee Compensation & Benefits 532,217
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 499,631
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 455,000
 Cost of Funds 335,404
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 173,211
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