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1ST MISSISSIPPI FEDERAL CREDIT UNION

Dec, 31, 2020 — 1ST MISSISSIPPI FEDERAL CREDIT UNION is a federal credit union headquartered in Meridian, MS with 2 branch locations and about $68.13 million in total assets. Opened 49 years ago in 1972, 1ST MISSISSIPPI FEDERAL CREDIT UNION has about 9,842 members and employs 26 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 265377714
Name:1ST MISSISSIPPI FEDERAL CREDIT UNION
Address:
(Main Office)
600 19th Ave
Meridian, MS 39301
Phone:(601) 693-6873
Fax:(601) 693-6877
Website:https://www.1stms.com
Branches:2 branch locations
Members:9,842
Credit Union Type:Federal Credit Union
Charter Number:21073
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1972
Last Audited:Jun 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$68,127,150
CEO/Manager:Rebecca Cooper
Chairperson:Jimmie Smith

Call Report

  • Commercial Loans
  • Credit Builder
  • Micro Business Loans
  • Micro Consumer Loans
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • First Time Homebuyer Program
  • Insurance/Investment Sales
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 12,816,971
TOTAL INVESTMENTS 32,821,326
Loans Held for Sale 0
 
 Real Estate Loans 5,206,958
 Unsecured Loans 3,146,675
 Other Loans 12,636,905
 TOTAL LOANS 20,990,538
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -276,256
 Land And Building 817,157
 Other Fixed Assets 161,829
 NCUSIF Deposit 467,131
 All Other Assets 328,454
  TOTAL ASSETS 68,127,150
LIABILITIES & CAPITAL:  
 Dividends Payable 62
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 303,669
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 9,469,695
 Regular shares 20,186,739
 All Other Shares & Deposits 18,464,863
  TOTAL SHARES & DEPOSITS 48,121,297
  TOTAL LIABILITIES 48,425,028
 Regular Reserve 1,539,484
 Other Reserves 35,836
 Undivided Earnings 18,126,802
  TOTAL EQUITY 19,702,122
  TOTAL LIABILITIES, SHARES, & EQUITY 68,127,150
INCOME & EXPENSE  
 Loan Income 1,693,995
 Investment Income 782,329
 Other Income 1,283,669
 Total Employee Compensation & Benefits 1,405,478
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,336,273
 Non-operating Income & (Expense) -6,357
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 235,758
 Cost of Funds 145,432
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 630,695
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