Jun, 30, 2021 — JACKSON AREA FEDERAL CREDIT UNION (JAFCU) is a federal credit union headquartered in Jackson, MS with 2 branch locations and about $99.91 million in total assets. Opened 68 years ago in 1953, JACKSON AREA FEDERAL CREDIT UNION (JAFCU) has about 14,025 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) | PO Box 1403 Jackson, MS 39215 |
| Phone: | (601) 922-7055 |
| Fax: | (601) 922-3057 |
| Website: | http://www.jacksonareafcu.com |
| Branches: | 2 branch locations |
| Members: | 14,025 |
| 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, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $99,910,678 |
| CEO/Manager: | Gary N Fairley |
| Chairperson: | John Anderson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 49,018,750 |
| TOTAL INVESTMENTS | 12,666,568 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 549,033 |
| Unsecured Loans | 4,492,557 |
| Other Loans | 30,983,096 |
| TOTAL LOANS | 36,024,686 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -664,832 |
| Land And Building | 1,650,148 |
| Other Fixed Assets | 69,341 |
| NCUSIF Deposit | 818,729 |
| All Other Assets | 327,288 |
| TOTAL ASSETS | 99,910,678 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 579,696 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 13,017,462 |
| Regular shares | 62,667,241 |
| All Other Shares & Deposits | 13,211,138 |
| TOTAL SHARES & DEPOSITS | 88,895,841 |
| TOTAL LIABILITIES | 89,475,537 |
| Regular Reserve | 1,184,363 |
| Other Reserves | 0 |
| Undivided Earnings | 9,250,778 |
| TOTAL EQUITY | 10,435,141 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 99,910,678 |
| INCOME & EXPENSE | |
| Loan Income | 1,067,636 |
| Investment Income | 105,158 |
| Other Income | 887,227 |
| Total Employee Compensation & Benefits | 946,085 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 783,250 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 91,084 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 296,582 |
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