Magnolia Federal Credit Union is headquartered in Jackson and is the 10th largest credit union in the state of Mississippi. It is also the 1,413th largest credit union in the nation. It was established in 1935 and as of September of 2019, it had grown to 59 employees and 20,726 members at 6 locations. Magnolia Federal Credit Union's CD rates are 40% higher than the national average, and it has a B+ health rating.
Field of Membership Restrictions
Membership in Magnolia Federal Credit Union is open to those who live, work, worship, or attend school in Mississippi's Hinds, Madison, Rankin, Simpson, Copiah, Leake, Yazoo, or Northern Scott Counties and immediate family of current members.
See current membership details
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Data as of Q3 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 224 |
| Year Chartered | 1935 |
| Employees | 59 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.09% |
| Return on Equity - YTD | 6.99% |
| Annual Interest Income | $5.0MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2019vs Q3 2018 | $127.2MM$134.9MM |
| Loans | Q3 2019vs Q3 2018 | $81.8MM$92.7MM |
| Deposits | Q3 2019vs Q3 2018 | $105.3MM$113.2MM |
| Equity Capital | Q3 2019vs Q3 2018 | $20.0MM$18.9MM |
| Loan Loss Allowance | Q3 2019vs Q3 2018 | $2.1MM$2.4MM |
| Unbacked Noncurrent Loans | Q3 2019vs Q3 2018 | $1.0MM$1.9MM |
| Real Estate Owned | Q3 2019vs Q3 2018 | $0$0 |