Dec, 31, 2022 — JACKSON AREA FEDERAL CREDIT UNION (JAFCU) is a federal credit union headquartered in JACKSON, MS with 2 branch locations and about $112.69 million in total assets. Opened 70 years ago in 1953, JACKSON AREA FEDERAL CREDIT UNION (JAFCU) has about 14,147 members and employs 28 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: | https://www.jacksonareafcu.com |
| Branches: | 2 branch locations |
| Members: | 14,147 |
| 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: | $112,686,898 |
| CEO/Manager: | Leigh J Bridges |
| Chairperson: | John Anderson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 36,283,140 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 466,213 |
| Unsecured Loans | 5,773,183 |
| Other Loans | 34,505,536 |
| TOTAL LOANS | 40,744,932 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -564,555 |
| Land And Building | 1,867,183 |
| Other Fixed Assets | 5,726 |
| NCUSIF Deposit | 883,441 |
| All Other Assets | 79,636 |
| TOTAL ASSETS | 112,686,898 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 5,000,000 |
| Accounts Payable & Other Liabilities | 525,563 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 13,049,820 |
| Regular shares | 63,790,739 |
| All Other Shares & Deposits | 19,091,316 |
| TOTAL SHARES & DEPOSITS | 95,931,875 |
| TOTAL LIABILITIES | 101,457,438 |
| Regular Reserve | 0 |
| Other Reserves | 1,184,363 |
| Undivided Earnings | 10,045,097 |
| TOTAL EQUITY | 11,229,460 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 112,686,898 |
| INCOME & EXPENSE | |
| Loan Income | 1,783,495 |
| Investment Income | 104,765 |
| Other Income | 1,399,680 |
| Total Employee Compensation & Benefits | 1,437,095 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,304,741 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 35,733 |
| Cost of Funds | 204,333 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 417,086 |
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