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JACKSON AREA FEDERAL CREDIT UNION (JAFCU)

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

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 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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