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SOUTHERN FEDERAL CREDIT UNION

Mar, 31, 2021 — SOUTHERN FEDERAL CREDIT UNION is a federal credit union headquartered in Houston, TX with 1 branch location and about $90.77 million in total assets. Opened 67 years ago in 1954, SOUTHERN FEDERAL CREDIT UNION has about 3,679 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:3,679
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, 2019
FHLB Member:No
Low Income Designation:No
Assets:$90,769,021
CEO/Manager:Shalonda Dawkins
Chairperson:Joe M Adams

Call Report

  • Micro Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Insurance/Investment Sales
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 17,082,953
TOTAL INVESTMENTS 37,829,307
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 5,452,806
 Other Loans 30,313,885
 TOTAL LOANS 35,766,691
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,369,992
 Land And Building 0
 Other Fixed Assets 314,046
 NCUSIF Deposit 529,567
 All Other Assets 616,449
  TOTAL ASSETS 90,769,021
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 472,120
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 6,881,503
 Regular shares 38,562,165
 All Other Shares & Deposits 13,293,818
  TOTAL SHARES & DEPOSITS 58,737,486
  TOTAL LIABILITIES 59,209,606
 Regular Reserve 503,626
 Other Reserves 0
 Undivided Earnings 31,055,789
  TOTAL EQUITY 31,559,415
  TOTAL LIABILITIES, SHARES, & EQUITY 90,769,021
INCOME & EXPENSE  
 Loan Income 535,662
 Investment Income 48,852
 Other Income 43,030
 Total Employee Compensation & Benefits 176,222
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 150,257
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 165,000
 Cost of Funds 136,051
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 11,535
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