About Us

Who is Southwest Financial?

Experience Better Banking with Southwest Financial!  We were chartered in November 1962 as Kro-Dal (Kroger-Dallas) Federal Credit Union. Southwest Financial opened for business in the early months of 1963. At that time, only Kroger associates and their immediate family members were eligible to join.

Today, we continue to stay true to our roots and still operate for the benefit of Kroger associates and their immediate family members. Additionally, we have added hundreds of other Select Employee Groups (SEGs). Each of our SEGs have agreed to offer the benefits of membership to their employees and immediate family members.

In 2015, we created the Mighty Maxx Member Loyalty Reward as a way to give back to our membership.  Since then, Southwest Financial has given over $2.4 million in cash back to our membership. The more products and services you use, the more we save, the more you earn – it’s a win, win!

We look forward to growing with you and your family.

What is a credit union?

A credit union is a member-owned, not-for-profit financial cooperative. In general, credit unions are known for paying higher dividends, offering lower loan rates and lower service fees. Credit unions are also known for providing superior service with the member in mind.

How are banks and credit unions different?

Banks are for-profit and controlled by a paid board of directors. The board of directors are governed by the shareholders – an elite group of individuals, the bank’s excess profits are paid to these individuals.

A credit union is a not-for-profit, financial cooperative. A credit union is also controlled by a board of directors, which have been elected by the membership.  One of the biggest differences here is that the credit union’s board of directors are volunteers – not paid at all. Additionally, credit unions strive to return excess profits back to the membership.