Mar, 31, 2021 — JACKSON AREA FEDERAL CREDIT UNION (JAFCU) is a federal credit union headquartered in Jackson, MS with 2 branch locations and about $101.93 million in total assets. Opened 68 years ago in 1953, JACKSON AREA FEDERAL CREDIT UNION (JAFCU) has about 13,870 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) | PO Box 1403 Jackson, MS 39215 |
| Phone: | (601) 922-7055 |
| Fax: | (601) 922-3057 |
| Website: | http://www.jacksonareafcu.com |
| Branches: | 2 branch locations |
| Members: | 13,870 |
| 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: | $101,927,320 |
| CEO/Manager: | Gary N Fairley |
| Chairperson: | John Anderson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 52,135,840 |
| TOTAL INVESTMENTS | 12,315,005 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 603,304 |
| Unsecured Loans | 4,269,764 |
| Other Loans | 30,322,551 |
| TOTAL LOANS | 35,195,619 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -698,093 |
| Land And Building | 1,716,337 |
| Other Fixed Assets | 129,319 |
| NCUSIF Deposit | 788,636 |
| All Other Assets | 344,657 |
| TOTAL ASSETS | 101,927,320 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 477,977 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 14,331,276 |
| Regular shares | 63,572,860 |
| All Other Shares & Deposits | 13,210,683 |
| TOTAL SHARES & DEPOSITS | 91,114,819 |
| TOTAL LIABILITIES | 91,592,796 |
| Regular Reserve | 1,184,362 |
| Other Reserves | 0 |
| Undivided Earnings | 9,150,162 |
| TOTAL EQUITY | 10,334,524 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 101,927,320 |
| INCOME & EXPENSE | |
| Loan Income | 540,351 |
| Investment Income | 52,544 |
| Other Income | 475,004 |
| Total Employee Compensation & Benefits | 476,560 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 371,176 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 52,526 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 195,965 |
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