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JACKSON AREA FEDERAL CREDIT UNION (JAFCU)

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

Call Report

  • Debt Cancellation/Suspension
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Check Cashing
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
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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