Dec, 31, 2023 — SOUTHWEST OKLAHOMA FEDERAL CREDIT UNION is a federal credit union headquartered in LAWTON, OK with 2 branch locations and about $113.04 million in total assets. Opened 66 years ago in 1958, SOUTHWEST OKLAHOMA FEDERAL CREDIT UNION has about 5,127 members and employs 15 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 OKLAHOMA FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1806 NW Liberty Ave LAWTON, OK 73507 |
| Phone: | (580) 353-0490 |
| Fax: | (580) 353-5068 |
| Website: | https://www.swofcu.com |
| Branches: | 2 branch locations |
| Members: | 5,127 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 12271 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1958 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $113,039,539 |
| CEO/Manager: | Emmett Meraz |
| Chairperson: | Kelly McClure |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 8,280,460 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 21,875,706 |
| Unsecured Loans | 17,828,613 |
| Other Loans | 32,074,074 |
| TOTAL LOANS | 71,778,393 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -501,802 |
| Land And Building | 1,108,396 |
| Other Fixed Assets | 97,353 |
| NCUSIF Deposit | 972,298 |
| All Other Assets | 0 |
| TOTAL ASSETS | 113,039,539 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 770,391 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 24,890,911 |
| Regular shares | 56,562,935 |
| All Other Shares & Deposits | 15,780,489 |
| TOTAL SHARES & DEPOSITS | 97,234,335 |
| TOTAL LIABILITIES | 98,004,726 |
| Regular Reserve | 0 |
| Other Reserves | -2,025,386 |
| Undivided Earnings | 17,060,199 |
| TOTAL EQUITY | 15,034,813 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 113,039,539 |
| INCOME & EXPENSE | |
| Loan Income | 3,899,655 |
| Investment Income | 906,191 |
| Other Income | 321,540 |
| Total Employee Compensation & Benefits | 1,299,227 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,223,849 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 80,000 |
| Cost of Funds | 334,556 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,592,514 |
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