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JACKSON AREA FEDERAL CREDIT UNION (JAFCU)

Sep, 30, 2021 — JACKSON AREA FEDERAL CREDIT UNION (JAFCU) is a federal credit union headquartered in Jackson, MS with 2 branch locations and about $104.60 million in total assets. Opened 69 years ago in 1953, JACKSON AREA FEDERAL CREDIT UNION (JAFCU) has about 14,060 members and employs 29 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:14,060
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:$104,598,039
CEO/Manager:Gary N Fairley
Chairperson:John Anderson

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 52,921,615
TOTAL INVESTMENTS 12,151,823
Loans Held for Sale 0
 
 Real Estate Loans 532,135
 Unsecured Loans 4,779,086
 Other Loans 32,115,179
 TOTAL LOANS 37,426,400
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -639,210
 Land And Building 1,518,260
 Other Fixed Assets 59,154
 NCUSIF Deposit 818,729
 All Other Assets 341,268
  TOTAL ASSETS 104,598,039
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 2,000,000
 Accounts Payable & Other Liabilities 492,162
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 13,673,905
 Regular shares 64,029,181
 All Other Shares & Deposits 13,753,231
  TOTAL SHARES & DEPOSITS 91,456,317
  TOTAL LIABILITIES 93,948,479
 Regular Reserve 1,184,363
 Other Reserves 0
 Undivided Earnings 9,465,197
  TOTAL EQUITY 10,649,560
  TOTAL LIABILITIES, SHARES, & EQUITY 104,598,039
INCOME & EXPENSE  
 Loan Income 1,621,632
 Investment Income 148,818
 Other Income 1,366,293
 Total Employee Compensation & Benefits 1,408,715
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,201,451
 Non-operating Income & (Expense) 124,498
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 10,035
 Cost of Funds 130,039
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 511,001
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