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SOUTHERN FEDERAL CREDIT UNION

Sep, 30, 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

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
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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