Magnolia Federal Credit Union is headquartered in Jackson and is the 7th largest credit union in the state of Mississippi. It is also the 1,388th largest credit union in the nation. It was established in 1935 and as of September of 2022, it had grown to 47 employees and 19,463 members at 3 locations. Magnolia Federal Credit Union has an A health rating.
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
Magnolia Federal Credit Union offers great services and provides their depositors the option to earn high interest rates on Kasasa checking accounts.
Overall | |
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NCUA # | 224 |
Year Chartered | 1935 |
Employees | 47 |
Primary Regulator |
Profit Margin | |
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Return on Assets - YTD | 2.36% |
Return on Equity - YTD | 15.48% |
Annual Interest Income | $5.1MM |
Assets and Liabilities | ||
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Assets | Q3 2022vs Q3 2021 | $169.2MM$161.4MM |
Loans | Q3 2022vs Q3 2021 | $91.6MM$74.3MM |
Deposits | Q3 2022vs Q3 2021 | $141.2MM$136.0MM |
Equity Capital | Q3 2022vs Q3 2021 | $25.7MM$22.0MM |
Loan Loss Allowance | Q3 2022vs Q3 2021 | $874.00K$921.00K |
Unbacked Noncurrent Loans | Q3 2022vs Q3 2021 | $709.00K$355.00K |
Real Estate Owned | Q3 2022vs Q3 2021 | $0$0 |
Rates for Magnolia Federal Credit Union are currently being reviewed.
Magnolia Federal Credit Union Locations | ||
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Branch Office | 240 Briarwood Dr | Jackson, MS 39206 |
Branch Office | 2847 Lakeland Dr | Flowood, MS 39232-8858 |
Branch Office | 1770 Highway 51 | Madison, MS 39110 |