Magnolia Federal Credit Union


Overview / Commentary
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 1,443rd largest credit union in the nation. It was established in 1935 and as of March of 2024, it had grown to 45 employees and 19,777 members at 3 locations. Magnolia Federal Credit Union 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 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

Reviews (1)

Fantastic Interest Rate With Kasasa Account

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



Health
B+

Health Grade Components

Overall
NCUA #224
Year Chartered1935
Employees45
Primary Regulator
Profit Margin
Return on Assets - YTD1.77%
Return on Equity - YTD8.71%
Annual Interest Income$2.4MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$158.9MM$165.7MM
LoansQ1 2024vs Q1 2023$104.5MM$95.5MM
DepositsQ1 2024vs Q1 2023$127.4MM$135.5MM
Equity CapitalQ1 2024vs Q1 2023$31.7MM$28.2MM
Loan Loss AllowanceQ1 2024vs Q1 2023$1.6MM$1.2MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$772K$551K
Real Estate OwnedQ1 2024vs Q1 2023$0$0
Rates

Rates for Magnolia Federal Credit Union are currently being reviewed.

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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