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SOUTHERN FEDERAL CREDIT UNION

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
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
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

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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