Overview / Commentary
Magnolia Federal Credit Union is headquartered in Jackson and is the 9th largest credit union in the state of Mississippi. It is also the 1,442nd largest credit union in the nation. It was established in 1935 and as of December of 2024, it had grown to 47 employees and 20,088 members at 4 locations. Magnolia Federal Credit Union has an A health rating.
Field of Membership Restrictions
Membership in Magnolia Federal Credit Union is open to those who live, work, worship, or attend school in the Mississippi counties of Copiah, Hinds, Leake, Madison, Rankin, Scott (northern portion), Simpson, or Yazoo. Immediate family of current members are also eligible to join.
See current membership details
Health
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 224 |
| Year Chartered | 1935 |
| Employees | 47 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 2.1% |
| Return on Equity - YTD | 9.4% |
| Annual Interest Income | $10MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2024vs Q4 2023 | $158.8MM$154.2MM |
| Loans | Q4 2024vs Q4 2023 | $103.9MM$103.4MM |
| Deposits | Q4 2024vs Q4 2023 | $122MM$121.4MM |
| Equity Capital | Q4 2024vs Q4 2023 | $35.3MM$31.1MM |
| Loan Loss Allowance | Q4 2024vs Q4 2023 | $2.1MM$1.5MM |
| Unbacked Noncurrent Loans | Q4 2024vs Q4 2023 | $645K$1MM |
| Real Estate Owned | Q4 2024vs Q4 2023 | $0$0 |