Dec, 31, 2022 — SOUTHERN FEDERAL CREDIT UNION is a federal credit union headquartered in HOUSTON, TX with 1 branch location and about $84.01 million in total assets. Opened 69 years ago in 1954, SOUTHERN FEDERAL CREDIT UNION has about 3,587 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: | https://www.southernfederalcu.org |
| Branches: | 1 branch locations |
| Members: | 3,587 |
| 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, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $84,014,718 |
| CEO/Manager: | Shalonda Dawkins |
| Chairperson: | Joe M Adams |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,511,015 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 4,309,240 |
| Other Loans | 27,827,538 |
| TOTAL LOANS | 32,136,778 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,350,928 |
| Land And Building | 0 |
| Other Fixed Assets | 266,952 |
| NCUSIF Deposit | 501,142 |
| All Other Assets | 72,409 |
| TOTAL ASSETS | 84,014,718 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 606,984 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 5,398,441 |
| Regular shares | 34,920,215 |
| All Other Shares & Deposits | 11,221,585 |
| TOTAL SHARES & DEPOSITS | 51,540,241 |
| TOTAL LIABILITIES | 52,147,225 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 31,867,493 |
| TOTAL EQUITY | 31,867,493 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 84,014,718 |
| INCOME & EXPENSE | |
| Loan Income | 1,282,243 |
| Investment Income | 214,744 |
| Other Income | 139,938 |
| Total Employee Compensation & Benefits | 543,455 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 575,922 |
| Non-operating Income & (Expense) | -32 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 315,000 |
| Cost of Funds | 239,890 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 119,128 |
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