Dec, 31, 2023 — JACKSON AREA FEDERAL CREDIT UNION (JAFCU) is a federal credit union headquartered in JACKSON, MS with 3 branch locations and about $130.19 million in total assets. Opened 71 years ago in 1953, JACKSON AREA FEDERAL CREDIT UNION (JAFCU) has about 14,744 members and employs 32 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) | 5675 Highway 18 W JACKSON, MS 39209 |
| Phone: | (601) 922-7055 |
| Fax: | (601) 922-3057 |
| Website: | https://www.jacksonareafcu.com |
| Branches: | 3 branch locations |
| Members: | 14,744 |
| 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, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $130,193,581 |
| CEO/Manager: | Leigh J Bridges |
| Chairperson: | John Anderson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 70,369,216 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 375,200 |
| Unsecured Loans | 7,379,109 |
| Other Loans | 37,186,711 |
| TOTAL LOANS | 44,941,020 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -313,698 |
| Land And Building | 2,521,268 |
| Other Fixed Assets | 492,330 |
| NCUSIF Deposit | 1,041,787 |
| All Other Assets | 86,993 |
| TOTAL ASSETS | 130,193,581 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 344,272 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 13,626,567 |
| Regular shares | 62,372,355 |
| All Other Shares & Deposits | 41,114,828 |
| TOTAL SHARES & DEPOSITS | 117,113,750 |
| TOTAL LIABILITIES | 117,458,022 |
| Regular Reserve | 0 |
| Other Reserves | 1,337,648 |
| Undivided Earnings | 11,397,911 |
| TOTAL EQUITY | 12,735,559 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 130,193,581 |
| INCOME & EXPENSE | |
| Loan Income | 3,145,445 |
| Investment Income | 435,924 |
| Other Income | 2,358,968 |
| Total Employee Compensation & Benefits | 2,043,164 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,095,978 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 233,873 |
| Cost of Funds | 1,217,767 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 663,827 |
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