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JACKSON AREA FEDERAL CREDIT UNION (JAFCU)

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

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
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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