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 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.

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

Health Grade Components

Overall
NCUA #224
Year Chartered1935
Employees47
Primary Regulator
Profit Margin
Return on Assets - YTD2.36%
Return on Equity - YTD15.48%
Annual Interest Income$5.1MM
Assets and Liabilities
AssetsQ3 2022vs Q3 2021$169.2MM$161.4MM
LoansQ3 2022vs Q3 2021$91.6MM$74.3MM
DepositsQ3 2022vs Q3 2021$141.2MM$136.0MM
Equity CapitalQ3 2022vs Q3 2021$25.7MM$22.0MM
Loan Loss AllowanceQ3 2022vs Q3 2021$874.00K$921.00K
Unbacked Noncurrent LoansQ3 2022vs Q3 2021$709.00K$355.00K
Real Estate OwnedQ3 2022vs Q3 2021$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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