Dec, 31, 2023 — MISSISSIPPI FEDERAL CREDIT UNION is a federal credit union headquartered in JACKSON, MS with 7 branch locations and about $164.57 million in total assets. Opened 66 years ago in 1958, MISSISSIPPI FEDERAL CREDIT UNION has about 22,848 members and employs 52 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MISSISSIPPI FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2500 N STATE ST JACKSON, MS 39216 |
| Phone: | (601) 351-9200 |
| Fax: | (769) 251-0864 |
| Website: | https://www.msfcu.us |
| Branches: | 7 branch locations |
| Members: | 22,848 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24585 |
|---|---|
| Membership Type: | Multiple common bond - Primarily health care |
| Corporate Credit Union: | No |
| Year Opened: | 1958 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $164,574,049 |
| CEO/Manager: | BRIAN LONG |
| Chairperson: | DAVID DREWREY |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 27,953,708 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 28,040,781 |
| Unsecured Loans | 13,969,808 |
| Other Loans | 46,839,209 |
| TOTAL LOANS | 88,849,798 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -795,880 |
| Land And Building | 12,015,798 |
| Other Fixed Assets | 947,986 |
| NCUSIF Deposit | 1,383,906 |
| All Other Assets | 0 |
| TOTAL ASSETS | 164,574,049 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,666,165 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 36,646,201 |
| Regular shares | 67,088,517 |
| All Other Shares & Deposits | 37,728,818 |
| TOTAL SHARES & DEPOSITS | 141,463,537 |
| TOTAL LIABILITIES | 144,129,702 |
| Regular Reserve | 0 |
| Other Reserves | 967,585 |
| Undivided Earnings | 19,476,762 |
| TOTAL EQUITY | 20,444,347 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 164,574,049 |
| INCOME & EXPENSE | |
| Loan Income | 5,144,688 |
| Investment Income | 1,605,743 |
| Other Income | 3,431,645 |
| Total Employee Compensation & Benefits | 3,726,987 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,505,095 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 573,604 |
| Cost of Funds | 1,021,513 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 756,265 |
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