Dec, 31, 2023 — 1ST MISSISSIPPI FEDERAL CREDIT UNION is a federal credit union headquartered in MERIDIAN, MS with 2 branch locations and about $78.27 million in total assets. Opened 52 years ago in 1972, 1ST MISSISSIPPI FEDERAL CREDIT UNION has about 11,102 members and employs 34 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | 1ST MISSISSIPPI FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 600 19th Ave MERIDIAN, MS 39301 |
| Phone: | (601) 693-6873 |
| Fax: | (601) 693-6877 |
| Website: | https://www.1stms.com |
| Branches: | 2 branch locations |
| Members: | 11,102 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 21073 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1972 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $78,271,692 |
| CEO/Manager: | Rebecca Cooper |
| Chairperson: | Clayton Cobler |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 9,129,014 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 7,092,560 |
| Unsecured Loans | 5,553,558 |
| Other Loans | 30,293,694 |
| TOTAL LOANS | 42,939,812 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -962,278 |
| Land And Building | 840,676 |
| Other Fixed Assets | 151,302 |
| NCUSIF Deposit | 542,495 |
| All Other Assets | 118,684 |
| TOTAL ASSETS | 78,271,692 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 4,244,209 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 11,334,908 |
| Regular shares | 23,549,234 |
| All Other Shares & Deposits | 17,697,086 |
| TOTAL SHARES & DEPOSITS | 52,581,228 |
| TOTAL LIABILITIES | 56,825,437 |
| Regular Reserve | 0 |
| Other Reserves | -70,464 |
| Undivided Earnings | 21,516,719 |
| TOTAL EQUITY | 21,446,255 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 78,271,692 |
| INCOME & EXPENSE | |
| Loan Income | 2,993,514 |
| Investment Income | 590,791 |
| Other Income | 1,273,871 |
| Total Employee Compensation & Benefits | 1,830,644 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,208,819 |
| Non-operating Income & (Expense) | 2,058 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 666,953 |
| Cost of Funds | 135,324 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 775,814 |
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