Southern Federal Credit Union

Overview / Commentary
1414 Enclave Parkway Suite 250
Houston, TX 77077

Southern Federal Credit Union is headquartered in Houston and is the 159th largest credit union in the state of Texas. It is also the 2,023rd largest credit union in the nation. It was established in 1954 and as of September of 2022, it had grown to 7 employees and 3,587 members at 1 location. Southern Federal Credit Union's savings rates are 2X the national average, and it has a B+ health rating.

Reviews (1)

First Impression, They Can Do Better.

Posted by: |

Their office is open, but I couldn't get anyone on the phone before 1pm, it just went to voicemail. The "representative" that answered the phone explained that after you filled out the Membership Application you can email it to [email protected], the email on their home page. They offer better rates on over $25k than anyone (today). $50 Membership Share (on the high side for CUs) but you get it back if you ever close the account. $12 inactive fee after 6 months (set an auto pay of $1 every 5 months).

Update from: Member Services

Southern Federal Credit Union


We are a closed membership limited to the employees of Transocean, EP Energy, TODCO, Streamlined Expansion companies or Bridas Energy.

Easy enough to say you work or are related to someone that works at one of these companies, but based on my experience, why bother.

Additional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. Southern Federal Credit Union has a relatively low asset base.

Health Grade Components

NCUA #9214
Year Chartered1954
Primary Regulator
Profit Margin
Return on Assets - YTD0.19%
Return on Equity - YTD0.5%
Annual Interest Income$1.5MM
Assets and Liabilities
AssetsQ3 2022vs Q3 2021$84.0MM$87.8MM
LoansQ3 2022vs Q3 2021$32.1MM$33.6MM
DepositsQ3 2022vs Q3 2021$51.5MM$55.5MM
Equity CapitalQ3 2022vs Q3 2021$31.9MM$31.7MM
Loan Loss AllowanceQ3 2022vs Q3 2021$1.4MM$1.2MM
Unbacked Noncurrent LoansQ3 2022vs Q3 2021$705.00K$990.00K
Real Estate OwnedQ3 2022vs Q3 2021$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Southern Federal Credit Union Savings Account Rates

1.25%*$100k*-Share Savings
OTHER TIERS: 0.50% $100 - $10k | 0.75% $10k - $25k | 1.00% $25k - $100k
1.25%*$100k*-Christmas Club
OTHER TIERS: 0.50% $100 - $10k | 0.75% $10k - $25k | 1.00% $25k - $100k

Southern Federal Credit Union Checking Account Rates

0.25%$500-Advantage Checking
0.25%$500-Elite Checking
0.25%$500-Prime Checking

Southern Federal Credit Union Locations
Branch Office1414 Enclave Pkwy Ste 250Houston, TX 77077-2023

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