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JACKSON AREA FEDERAL CREDIT UNION (JAFCU)

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

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
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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