Southern Federal Credit Union


Overview / Commentary
713-232-7774
1414 Enclave Parkway Suite 250
Houston, TX 77077

Southern Federal Credit Union is headquartered in Houston and is the 150th largest credit union in the state of Texas. It is also the 1,908th largest credit union in the nation. It was established in 1954 and as of March of 2021, it had grown to 8 employees and 3,679 members at 1 location. Southern Federal Credit Union's savings rates are 92% higher than the national average, and it has an A 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

832-769-3240

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.



Health
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

Overall
NCUA #9214
Year Chartered1954
Employees8
Primary Regulator
Profit Margin
Return on Assets - YTD0.05%
Return on Equity - YTD0.14%
Annual Interest Income$584.00K
Assets and Liabilities
AssetsQ1 2021vs Q1 2020$90.8MM$87.5MM
LoansQ1 2021vs Q1 2020$35.8MM$46.9MM
DepositsQ1 2021vs Q1 2020$58.7MM$55.7MM
Equity CapitalQ1 2021vs Q1 2020$31.6MM$31.2MM
Loan Loss AllowanceQ1 2021vs Q1 2020$1.4MM$1.3MM
Unbacked Noncurrent LoansQ1 2021vs Q1 2020$2.0MM$2.0MM
Real Estate OwnedQ1 2021vs Q1 2020$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Southern Federal Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* 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

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.25%$500-IRA
1.00%*$100k*-Share Savings
OTHER TIERS: 0.25% $100 - $10k | 0.50% $10k - $25k | 0.75% $25k - $100k
1.00%*$100k*-Christmas Club
OTHER TIERS: 0.25% $100 - $10k | 0.50% $10k - $25k | 0.75% $25k - $100k

Southern Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%$500-Advantage Checking
0.25%$500-Elite Checking
0.25%$500-Prime Checking
Locations


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

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