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JACKSON AREA FEDERAL CREDIT UNION (JAFCU)

Jun, 30, 2023 — JACKSON AREA FEDERAL CREDIT UNION (JAFCU) is a federal credit union headquartered in JACKSON, MS with 2 branch locations and about $112.69 million in total assets. Opened 71 years ago in 1953, JACKSON AREA FEDERAL CREDIT UNION (JAFCU) has about 14,147 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)
5675 Highway 18 W
JACKSON, MS 39209
Phone:(601) 922-7055
Fax:(601) 922-3057
Website:https://www.jacksonareafcu.com
Branches:2 branch locations
Members:14,147
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, 2021
FHLB Member:No
Low Income Designation:No
Assets:$112,686,898
CEO/Manager:Leigh J Bridges
Chairperson:John Anderson

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 36,283,140
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 466,213
 Unsecured Loans 5,773,183
 Other Loans 34,505,536
 TOTAL LOANS 40,744,932
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -564,555
 Land And Building 1,867,183
 Other Fixed Assets 5,726
 NCUSIF Deposit 883,441
 All Other Assets 79,636
  TOTAL ASSETS 112,686,898
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 5,000,000
 Accounts Payable & Other Liabilities 525,563
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 13,049,820
 Regular shares 63,790,739
 All Other Shares & Deposits 19,091,316
  TOTAL SHARES & DEPOSITS 95,931,875
  TOTAL LIABILITIES 101,457,438
 Regular Reserve 0
 Other Reserves 1,184,363
 Undivided Earnings 10,045,097
  TOTAL EQUITY 11,229,460
  TOTAL LIABILITIES, SHARES, & EQUITY 112,686,898
INCOME & EXPENSE  
 Loan Income 1,783,495
 Investment Income 104,765
 Other Income 1,399,680
 Total Employee Compensation & Benefits 1,437,095
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,304,741
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 35,733
 Cost of Funds 204,333
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 417,086
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