<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0708</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0000818677</cik>
        <entityName>SECURITY FEDERAL CORP</entityName>
        <issuerAddress>
            <street1>238 RICHLAND AVENUE NW</street1>
            <city>AIKEN</city>
            <stateOrCountry>SC</stateOrCountry>
            <stateOrCountryDescription>SOUTH CAROLINA</stateOrCountryDescription>
            <zipCode>29801</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>803-641-3000</issuerPhoneNumber>
        <jurisdictionOfInc>SOUTH CAROLINA</jurisdictionOfInc>
        <issuerPreviousNameList>
            <previousName>SECURITY FEDERAL SOUTH CAROLINA CORPORATION</previousName>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <previousName>SECURITY FEDERAL CORPORATION</previousName>
        </edgarPreviousNameList>
        <entityType>Corporation</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>J.</firstName>
                <middleName>Chris</middleName>
                <lastName>Verenes</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>238 Richland Avenue NW</street1>
                <city>Aiken</city>
                <stateOrCountry>SC</stateOrCountry>
                <stateOrCountryDescription>SOUTH CAROLINA</stateOrCountryDescription>
                <zipCode>29801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Chief Executive Officer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Roy</firstName>
                <middleName>G.</middleName>
                <lastName>Lindburg</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>238 Richland Avenue NW</street1>
                <city>Aiken</city>
                <stateOrCountry>SC</stateOrCountry>
                <stateOrCountryDescription>SOUTH CAROLINA</stateOrCountryDescription>
                <zipCode>29801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>President</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jessica</firstName>
                <middleName>T.</middleName>
                <lastName>Cummins</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>238 Richland Avenue NW</street1>
                <city>Aiken</city>
                <stateOrCountry>SC</stateOrCountry>
                <stateOrCountryDescription>SOUTH CAROLINA</stateOrCountryDescription>
                <zipCode>29801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Chief Financial Officer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Timothy</firstName>
                <middleName>W.</middleName>
                <lastName>Simmons</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>238 Richland Avenue NW</street1>
                <city>Aiken</city>
                <stateOrCountry>SC</stateOrCountry>
                <stateOrCountryDescription>SOUTH CAROLINA</stateOrCountryDescription>
                <zipCode>29801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Chairman of the Board</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Robert</firstName>
                <middleName>E.</middleName>
                <lastName>Alexander</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>238 Richland Avenue NW</street1>
                <city>Aiken</city>
                <stateOrCountry>SC</stateOrCountry>
                <stateOrCountryDescription>SOUTH CAROLINA</stateOrCountryDescription>
                <zipCode>29801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>William</firstName>
                <middleName>R.</middleName>
                <lastName>Clyburn</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>238 Richland Avenue NW</street1>
                <city>Aiken</city>
                <stateOrCountry>SC</stateOrCountry>
                <stateOrCountryDescription>SOUTH CAROLINA</stateOrCountryDescription>
                <zipCode>29801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Richard</firstName>
                <middleName>T.</middleName>
                <lastName>Harmon</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>238 Richland Avenue NW</street1>
                <city>Aiken</city>
                <stateOrCountry>SC</stateOrCountry>
                <stateOrCountryDescription>SOUTH CAROLINA</stateOrCountryDescription>
                <zipCode>29801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Thomas</firstName>
                <middleName>L.</middleName>
                <lastName>Moore</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>238 Richland Avenue NW</street1>
                <city>Aiken</city>
                <stateOrCountry>SC</stateOrCountry>
                <stateOrCountryDescription>SOUTH CAROLINA</stateOrCountryDescription>
                <zipCode>29801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Frank</firstName>
                <middleName>M.</middleName>
                <lastName>Thomas, Jr.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>238 Richland Avenue NW</street1>
                <city>Aiken</city>
                <stateOrCountry>SC</stateOrCountry>
                <stateOrCountryDescription>SOUTH CAROLINA</stateOrCountryDescription>
                <zipCode>29801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Frampton</firstName>
                <middleName>W.</middleName>
                <lastName>Toole III</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>238 Richland Avenue NW</street1>
                <city>Aiken</city>
                <stateOrCountry>SC</stateOrCountry>
                <stateOrCountryDescription>SOUTH CAROLINA</stateOrCountryDescription>
                <zipCode>29801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Harry</firstName>
                <middleName>Odell</middleName>
                <lastName>Weeks, Jr.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>238 Richland Avenue NW</street1>
                <city>Aiken</city>
                <stateOrCountry>SC</stateOrCountry>
                <stateOrCountryDescription>SOUTH CAROLINA</stateOrCountryDescription>
                <zipCode>29801</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Commercial Banking</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>$25,000,001 - $100,000,000</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06b</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2019-11-22</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isDebtType>true</isDebtType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Performance Trust Capital Partners, LLC</recipientName>
                <recipientCRDNumber>36155</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>500 W. Madison</street1>
                    <street2>Suite 450</street2>
                    <city>Chicago</city>
                    <stateOrCountry>IL</stateOrCountry>
                    <stateOrCountryDescription>ILLINOIS</stateOrCountryDescription>
                    <zipCode>60661</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>AL</state>
                    <description>ALABAMA</description>
                    <state>CA</state>
                    <description>CALIFORNIA</description>
                    <state>GA</state>
                    <description>GEORGIA</description>
                    <state>IL</state>
                    <description>ILLINOIS</description>
                    <state>MN</state>
                    <description>MINNESOTA</description>
                    <state>MS</state>
                    <description>MISSISSIPPI</description>
                    <state>MO</state>
                    <description>MISSOURI</description>
                    <state>NJ</state>
                    <description>NEW JERSEY</description>
                    <state>NC</state>
                    <description>NORTH CAROLINA</description>
                    <state>OH</state>
                    <description>OHIO</description>
                    <state>SC</state>
                    <description>SOUTH CAROLINA</description>
                    <state>TN</state>
                    <description>TENNESSEE</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>30000000</totalOfferingAmount>
            <totalAmountSold>30000000</totalAmountSold>
            <totalRemaining>0</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>24</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>450000</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>SECURITY FEDERAL CORP</issuerName>
                <signatureName>/s/J. Chris Vernes</signatureName>
                <nameOfSigner>J. Chris Verenes</nameOfSigner>
                <signatureTitle>Chief Executive Officer and Director</signatureTitle>
                <signatureDate>2019-11-22</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
