Dec, 31, 2023 — SECURITY FIRST CREDIT UNION is a federal credit union headquartered in EDINBURG, TX with 9 branch locations and about $451.37 million in total assets. Opened 77 years ago in 1947, SECURITY FIRST CREDIT UNION has about 41,376 members and employs 130 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SECURITY FIRST CREDIT UNION |
|---|---|
| Address: (Main Office) | 3515 S Jackson Rd EDINBURG, TX 78539-6600 |
| Phone: | (956) 661-4000 |
| Fax: | (956) 661-4022 |
| Website: | https://securityfirstcu.com |
| Branches: | 9 branch locations |
| Members: | 41,376 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 5547 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1947 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $451,373,440 |
| CEO/Manager: | Andy Reed |
| Chairperson: | Cesar Aleman |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 38,391,763 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 44,910,105 |
| Unsecured Loans | 25,577,840 |
| Other Loans | 288,307,086 |
| TOTAL LOANS | 358,842,612 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,766,091 |
| Land And Building | 8,660,741 |
| Other Fixed Assets | 1,487,463 |
| NCUSIF Deposit | 3,883,873 |
| All Other Assets | 0 |
| TOTAL ASSETS | 451,373,440 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 6,954,906 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 101,265,503 |
| Regular shares | 181,743,349 |
| All Other Shares & Deposits | 114,653,652 |
| TOTAL SHARES & DEPOSITS | 397,662,504 |
| TOTAL LIABILITIES | 404,617,410 |
| Regular Reserve | 0 |
| Other Reserves | -2,898,065 |
| Undivided Earnings | 49,654,095 |
| TOTAL EQUITY | 46,756,030 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 451,373,440 |
| INCOME & EXPENSE | |
| Loan Income | 15,510,745 |
| Investment Income | 2,645,863 |
| Other Income | 3,575,293 |
| Total Employee Compensation & Benefits | 7,425,879 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 9,152,472 |
| Non-operating Income & (Expense) | 1,466,185 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 4,089,420 |
| Cost of Funds | 1,380,854 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,619,622 |
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