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SOUTHERN FEDERAL CREDIT UNION

Dec, 31, 2023 — SOUTHERN FEDERAL CREDIT UNION is a federal credit union headquartered in HOUSTON, TX with 1 branch location and about $76.36 million in total assets. Opened 70 years ago in 1954, SOUTHERN FEDERAL CREDIT UNION has about 3,619 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)
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:3,619
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, 2022
FHLB Member:No
Low Income Designation:No
Assets:$76,362,266
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 9,278,800
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 4,584,765
 Other Loans 28,856,206
 TOTAL LOANS 33,440,971
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,142,865
 Land And Building 0
 Other Fixed Assets 230,201
 NCUSIF Deposit 432,612
 All Other Assets 67,360
  TOTAL ASSETS 76,362,266
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities -28,322
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 4,419,509
 Regular shares 25,069,526
 All Other Shares & Deposits 14,221,450
  TOTAL SHARES & DEPOSITS 43,710,485
  TOTAL LIABILITIES 43,682,163
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 32,680,103
  TOTAL EQUITY 32,680,103
  TOTAL LIABILITIES, SHARES, & EQUITY 76,362,266
INCOME & EXPENSE  
 Loan Income 1,810,358
 Investment Income 1,409,399
 Other Income 161,083
 Total Employee Compensation & Benefits 782,597
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 913,459
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 75,000
 Cost of Funds 1,079,640
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 660,660
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