Dec, 31, 2023 — SOUTHLAND FEDERAL CREDIT UNION is a federal credit union headquartered in LUFKIN, TX with 2 branch locations and about $72.84 million in total assets. Opened 61 years ago in 1963, SOUTHLAND FEDERAL CREDIT UNION has about 6,743 members and employs 16 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | SOUTHLAND FEDERAL CREDIT UNION |
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Address: (Main Office) | 2601 S John Redditt Dr LUFKIN, TX 75904-5624 |
Phone: | (936) 639-2311 |
Fax: | (936) 639-9854 |
Website: | https://www.southlandfcu.com |
Branches: | 2 branch locations |
Members: | 6,743 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 15815 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1963 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $72,836,274 |
CEO/Manager: | Kathy Harvey |
Chairperson: | Tommy Edmonson |
ASSETS: | $ Amount |
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Cash & Equivalents | 6,450,354 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 4,503 |
Unsecured Loans | 3,991,029 |
Other Loans | 36,525,841 |
TOTAL LOANS | 40,521,373 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -389,169 |
Land And Building | 1,253,535 |
Other Fixed Assets | 9,805 |
NCUSIF Deposit | 566,285 |
All Other Assets | 53,173 |
TOTAL ASSETS | 72,836,274 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 938,772 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 5,435,766 |
Regular shares | 26,017,781 |
All Other Shares & Deposits | 30,317,740 |
TOTAL SHARES & DEPOSITS | 61,771,287 |
TOTAL LIABILITIES | 62,710,059 |
Regular Reserve | 0 |
Other Reserves | -537,993 |
Undivided Earnings | 10,664,208 |
TOTAL EQUITY | 10,126,215 |
TOTAL LIABILITIES, SHARES, & EQUITY | 72,836,274 |
INCOME & EXPENSE | |
Loan Income | 2,386,031 |
Investment Income | 672,791 |
Other Income | 633,524 |
Total Employee Compensation & Benefits | 949,762 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,148,273 |
Non-operating Income & (Expense) | 17,476 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 105,100 |
Cost of Funds | 985,636 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,114,352 |
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