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Magnolia Federal Credit Union


Overview / Commentary
www.magfedcu.org
601-977-8300
240 Briarwood Dr
Jackson, MS 39206

Magnolia Federal Credit Union is headquartered in Jackson and is the 10th largest credit union in the state of Mississippi. It is also the 1,407th largest credit union in the nation. It was established in 1935 and as of December of 2020, it had grown to 48 employees and 19,375 members at 3 locations. Magnolia Federal Credit Union's money market rates are 36% higher than the national average, and it boasts an A+ health rating.

Field of Membership Restrictions

Membership in Magnolia Federal Credit Union is open to those who live, work, or worship 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

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Reviews (1)

Fantastic Interest Rate With Kasasa Account

Posted by: |

Magnolia Federal Credit Union offers great services and provides their depositors the option to earn high interest rates on Kasasa checking accounts.

4


Health
A+

Data as of Q4 2020

Learn why bank health matters

Health Grade Components

Overall
NCUA #224
Year Chartered1935
Employees48
Primary Regulator
Profit Margin
Return on Assets - YTD0.6%
Return on Equity - YTD4.19%
Annual Interest Income$5.5MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$150.0MM$128.8MM
LoansQ4 2020vs Q4 2019$67.6MM$83.0MM
DepositsQ4 2020vs Q4 2019$127.3MM$106.5MM
Equity CapitalQ4 2020vs Q4 2019$21.2MM$20.3MM
Loan Loss AllowanceQ4 2020vs Q4 2019$1.3MM$1.8MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$530.00K$1.3MM
Real Estate OwnedQ4 2020vs Q4 2019$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Magnolia Federal Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Magnolia Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.50%*-$500Maggie's Youth Savers Club
OTHER TIERS: 0.20% → $500+
0.50%$100-IRA Shares
0.20%$100-Business Share Savings
0.10%$100-Share Savings
0.10%--Christmas Club
0.10%--Vacation Club

Magnolia Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.60%*$500k*-Money Market
OTHER TIERS: 0.30% → $2.5k - $7.5k | 0.40% → $7.5k - $20k | 0.50% → $20k - $500k
0.60%*$500k*-Business Money Market
OTHER TIERS: 0.30% → $2.5k - $7.5k | 0.40% → $7.5k - $20k | 0.50% → $20k - $500k

Magnolia Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%--Everything E Checking

Magnolia Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.07%$100-24 Month Kidicate Certificate
1.87%$100k-Business 60 Month Jumbo Share Certificate
1.76%$1k-Business 60 Month Share Certificate
1.71%$100k-Business 48 Month Jumbo Share Certificate
1.66%$100k-Business 42 Month Jumbo Share Certificate
1.61%$100k-Business 36 Month Jumbo Share Certificate
1.61%$1k-Business 48 Month Share Certificate
1.56%$1k-Business 42 Month Share Certificate
1.51%$1k-Business 36 Month Share Certificate
1.41%$100k-60 Month Jumbo Share Certificate
1.36%$100k-48 Month Jumbo Share Certificate
1.36%$100k-Business 30 Month Jumbo Share Certificate
1.31%$1k-60 Month Share Certificate
1.31%$100k-Business 24 Month Jumbo Share Certificate
1.26%$1k-48 Month Share Certificate
1.26%$100k-42 Month Jumbo Share Certificate
1.26%$1k-Business 30 Month Share Certificate
1.21%$100k-36 Month Jumbo Share Certificate
1.21%$100k-Business 18 Month Jumbo Share Certificate
1.21%$1k-Business 24 Month Share Certificate
1.16%$1k-42 Month Share Certificate
1.16%$100k-30 Month Jumbo Share Certificate
1.11%$1k-36 Month Share Certificate
1.11%$100k-24 Month Jumbo Share Certificate
1.11%$100k-Business 12 Month Jumbo Share Certificate
1.11%$1k-Business 18 Month Share Certificate
1.01%$1k-30 Month Share Certificate
1.01%$1k-Business 12 Month Share Certificate
0.96%$1k-24 Month Share Certificate
0.85%$100k-18 Month Jumbo Share Certificate
0.80%$100k-12 Month Jumbo Share Certificate
0.75%$1k-18 Month Share Certificate
0.70%$1k-12 Month Share Certificate
0.40%$100k-Business 6 Month Jumbo Share Certificate
0.35%$100k-Business 3 Month Jumbo Share Certificate
0.30%$100k-6 Month Jumbo Share Certificate
0.30%$1k-Business 6 Month Share Certificate
0.25%$100k-3 Month Jumbo Share Certificate
0.25%$1k-Business 3 Month Share Certificate
0.20%$1k-6 Month Share Certificate
0.15%$1k-3 Month Share Certificate

Magnolia Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.31%$1k-60 Month IRA Certificate
1.26%$1k-48 Month IRA Certificate
1.16%$1k-42 Month IRA Certificate
1.11%$1k-36 Month IRA Certificate
1.01%$1k-30 Month IRA Certificate
0.96%$1k-24 Month IRA Certificate
0.75%$1k-18 Month IRA Certificate
0.70%$1k-12 Month IRA Certificate
0.20%$1k-6 Month IRA Certificate
0.15%$1k-3 Month IRA Certificate
Locations


Magnolia Federal Credit Union Locations
Branch Office240 Briarwood DrJackson, MS 39206
Branch Office2847 Lakeland DrFlowood, MS 39232-8858
Branch Office1770 Highway 51Madison, MS 39110

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