Dec, 31, 2021 — SOUTHWEST FEDERAL CREDIT UNION is a federal credit union headquartered in ALBUQUERQUE, NM with 2 branch locations and about $79.28 million in total assets. Opened 86 years ago in 1936, SOUTHWEST FEDERAL CREDIT UNION has about 4,770 members and employs 26 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SOUTHWEST FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 8111 Harper Dr NE ALBUQUERQUE, NM 87111-1046 |
| Phone: | (505) 243-6751 |
| Fax: | (505) 243-5604 |
| Website: | http://www.sfcunm.org |
| Branches: | 2 branch locations |
| Members: | 4,770 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 964 |
|---|---|
| Membership Type: | Multiple common bond - Primarily communications and utilities |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Dec 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $79,279,633 |
| CEO/Manager: | Randy Lunsford |
| Chairperson: | Albert Putzig |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,994,722 |
| TOTAL INVESTMENTS | 39,280,129 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 10,709,741 |
| Unsecured Loans | 6,843,884 |
| Other Loans | 15,381,881 |
| TOTAL LOANS | 32,935,506 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -158,284 |
| Land And Building | 2,656,979 |
| Other Fixed Assets | 347,850 |
| NCUSIF Deposit | 689,874 |
| All Other Assets | 532,857 |
| TOTAL ASSETS | 79,279,633 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 391,047 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 14,896,546 |
| Regular shares | 28,550,726 |
| All Other Shares & Deposits | 30,481,479 |
| TOTAL SHARES & DEPOSITS | 73,928,751 |
| TOTAL LIABILITIES | 74,319,798 |
| Regular Reserve | 953,124 |
| Other Reserves | -660,111 |
| Undivided Earnings | 4,666,822 |
| TOTAL EQUITY | 4,959,835 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 79,279,633 |
| INCOME & EXPENSE | |
| Loan Income | 1,898,808 |
| Investment Income | 594,012 |
| Other Income | 292,043 |
| Total Employee Compensation & Benefits | 1,565,857 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,360,397 |
| Non-operating Income & (Expense) | 20 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 146,500 |
| Cost of Funds | 200,397 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 158,326 |
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