Dec, 31, 2021 — JACKSON AREA FEDERAL CREDIT UNION (JAFCU) is a federal credit union headquartered in JACKSON, MS with 2 branch locations and about $104.76 million in total assets. Opened 69 years ago in 1953, JACKSON AREA FEDERAL CREDIT UNION (JAFCU) has about 14,037 members and employs 27 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | JACKSON AREA FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 5675 Highway 18 W JACKSON, MS 39209 |
| Phone: | (601) 922-7055 |
| Fax: | (601) 922-3057 |
| Website: | http://www.jacksonareafcu.com |
| Branches: | 2 branch locations |
| Members: | 14,037 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 8445 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $104,764,051 |
| CEO/Manager: | Gary N Fairley |
| Chairperson: | John Anderson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 52,813,937 |
| TOTAL INVESTMENTS | 11,381,524 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 516,228 |
| Unsecured Loans | 5,042,409 |
| Other Loans | 32,403,438 |
| TOTAL LOANS | 37,962,075 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -606,968 |
| Land And Building | 1,870,878 |
| Other Fixed Assets | 53,295 |
| NCUSIF Deposit | 883,820 |
| All Other Assets | 405,490 |
| TOTAL ASSETS | 104,764,051 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 4,500,000 |
| Accounts Payable & Other Liabilities | 437,929 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 12,370,324 |
| Regular shares | 63,541,246 |
| All Other Shares & Deposits | 13,102,178 |
| TOTAL SHARES & DEPOSITS | 89,013,748 |
| TOTAL LIABILITIES | 93,951,677 |
| Regular Reserve | 1,184,363 |
| Other Reserves | 0 |
| Undivided Earnings | 9,628,011 |
| TOTAL EQUITY | 10,812,374 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 104,764,051 |
| INCOME & EXPENSE | |
| Loan Income | 2,186,938 |
| Investment Income | 195,211 |
| Other Income | 1,832,767 |
| Total Employee Compensation & Benefits | 1,893,500 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,616,280 |
| Non-operating Income & (Expense) | 156,957 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 10,035 |
| Cost of Funds | 178,243 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 673,815 |
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