Dec, 31, 2020 — JACKSON AREA FEDERAL CREDIT UNION (JAFCU) is a federal credit union headquartered in Jackson, MS with 2 branch locations and about $92.76 million in total assets. Opened 68 years ago in 1953, JACKSON AREA FEDERAL CREDIT UNION (JAFCU) has about 13,908 members and employs 26 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: | 13,908 |
| 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: | $92,755,266 |
| CEO/Manager: | Gary N Fairley |
| Chairperson: | John Anderson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 45,353,178 |
| TOTAL INVESTMENTS | 9,416,005 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 630,887 |
| Unsecured Loans | 4,727,156 |
| Other Loans | 30,310,747 |
| TOTAL LOANS | 35,668,790 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -719,482 |
| Land And Building | 1,743,467 |
| Other Fixed Assets | 128,034 |
| NCUSIF Deposit | 788,636 |
| All Other Assets | 376,638 |
| TOTAL ASSETS | 92,755,266 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 463,972 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 11,075,348 |
| Regular shares | 55,259,595 |
| All Other Shares & Deposits | 15,817,792 |
| TOTAL SHARES & DEPOSITS | 82,152,735 |
| TOTAL LIABILITIES | 82,616,707 |
| Regular Reserve | 1,184,363 |
| Other Reserves | 0 |
| Undivided Earnings | 8,954,196 |
| TOTAL EQUITY | 10,138,559 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 92,755,266 |
| INCOME & EXPENSE | |
| Loan Income | 2,310,433 |
| Investment Income | 220,121 |
| Other Income | 1,988,793 |
| Total Employee Compensation & Benefits | 1,838,264 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,460,129 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 539,977 |
| Cost of Funds | 311,671 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 369,306 |
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