Magnolia Federal Credit Union

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A short history of Magnolia FCU

Since its inception in 1935 the Magnolia Federal Credit Union has been serving its members in the Jackson, Mississippi area with exceptional financial products. You can find their current interest rates on used car loans, new car loans, 1st mortgage loans and interest rates on both fixed and adjustable mortgages here on these pages. Currently led by Michael Waylett, the Magnolia FCU has grown its membership to over 22,390 with assets of more than $141,383,287. They have a main office and 5 branch offices. Please see the credit unions website or contact them by phone at (601) 977-8300 or email them at info@magfedcu.org to get exact details . There are many other credit unions in the local area. See them all here. Credit Unions in Jackson, MS.

General Information For Magnolia FCU was taken from their 6/30/2017 quarterly report, which is the most current available public information.

Charter Number 224
Address 240 Briarwood Dr 
City Jackson 
State Mississippi 
Zip-Code 39206
Phone Number (601) 977-8300
Fax Number (601) 977-8320
Email Address: info@magfedcu.org
CEO/President Michael Waylett
Members 22,390 
Full-Time Employees 70 
Part-Time Employees
Number of Branch Offices
Total Assets 141,383,287 
Website http://www.magfedcu.org 

Compare Magnolia Federal Credit Union To Other Local Credit Unions


Credit Union Name
Branch Name
Address
Zip Code
Phone Number
ATM Access
Distance (Miles)
Valley Gas Employees CU Valley Gas Emp. CU 1400 Lakeover Rd Ste 140 39213 (601) 362-7623 No 1.94
Mississippi Farm Bureau Employees CU MFBECU-Casualty Co. Branch 1800 E County Line Rd # 400 39157 (601) 957-4300 No 2.02
Members Exchange CU Branch - Pearl 101 Metroplex Blvd 39208 (601) 922-3350 No 2.47
Mississippi CU MISSISSIPPI FEDERAL CREDIT UNION -JACKSON 2500 N STATE ST 39296 (601) 351-9200 No 2.91
Healthplus CU HEALTHPLUS 500H E WOODROW WILSON Ave 39216 (601) 354-6633 No 3.05

Magnolia Federal Credit Union Financial Performance Charts


Performance Charts

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Financial Data


Magnolia Federal Credit Union Lowest Loan Rates With State and USA Rankings

Unsecured Credit Card New Car Loans Used Car Loans 1st Mortgage Loans Other Real Estate
Rate 14.00 2.95 14.95 4.00 5.00
Mean Rate For All USA Based Credit Unions 10.56 3.72 5.00 4.48 4.95
Rank Among All USA Credit Unions 497 139 811 138 229
Rank Among All Mississippi Credit Unions 20 10 55 7 8

Magnolia Federal Credit Union Highest Deposit Rates With State and USA Rankings

Checking Regular Savings Money Market Certificates of Deposits IRA/KEOGH
Rate 2.00 0.01 0.25 0.50 0.50
Mean Rate For All USA Based Credit Unions 0.19 0.26 0.29 0.73 0.66
Rank Among All USA Credit Unions 20 156 105 263 227
Rank Among All Mississippi Credit Unions 2 28 7 29 14
Magnolia Federal Credit Union Loans and Leases

Interest Rate Number of Loans Amount
Unsecured Credit Card Loans 14.0002,4304,038,861
All Other Unsecured Loans/Lines of Credit 18.0006,49711,515,600
Short-Term, Small Amount Loans (STS) (Federal CU Only) 0.00000
Non-Federally Guaranteed Student Loans 6.5005,2328,080,485
New Vehicle Loans 2.95053210,750,826
Used Vehicle Loans 14.9503,66842,831,727
Total 1st Mortgage Real Estate Loans/Lines of Credit 4.000893,314,271
Total Other Real Estate Loans/Lines of Credit 5.0001302,857,042
Leases Receivable 0.00000
Total All Other Loans/Lines of Credit 3.1003031,597,021
TOTAL LOANS & LEASES 18,88184,985,833

Magnolia Federal Credit Union Real Estate Loans and Lines of Credit

REAL STATE LOANS FIRST MORTGAGE

No. of Loans Outstanding Amt of Loans Outstanding No. of Loans Granted Year- to-Date Amount Granted Year-To-Date
Fixed Rate
    a. > 15 years 432,259,93400
    b. 15 Years or less 461,054,337175,631
Balloon/Hybrid
    a. > 15 years 0000
    b. 15 Years or less 0000
Other Fixed Rate 0000
Adjustable Rate 1 yr or less 0000
Adjustable Rate > 1 yr 0000

OTHER REAL ESTATE

Closed-End Fixed Rate 881,800,76818,668
Closed-End Adjustable Rate 0000
Open-End Adjustable Rate 421,056,27415459,822
Open-End Fixed Rate 0000
TOTALS 2196,171,31317544,121

MISCELLANEOUS REAL ESTATE LOANS/LINES OF CREDIT INFORMATION

Interest Only & Payment Option 1st Mortgage Loans 000
Interest Only & Payment Option Other RE/LOC Loans 000
REVERSE MORTGAGES
    a. Federally Insured Home Equity Conversion Mortgage (HECM) 0000
    b. Proprietary Reverse Mortgage Products 0000

Magnolia Federal Credit Union Member Offerings
First Time Homebuyer Program No
Real Estate Loans Yes
Pay Day Lending No
Share Secured Credit Cards Yes
Overdraft Protection/Courtesy Pay Yes
Overdraft Lines of Credit Yes
ATM/Debit Card Program Yes
Interest Only and Payment Option 1st Mortgage Loans No
Check Cashing Yes
Money Orders Yes
No Surcharge ATMs Yes
Home Banking Via Internet Website Yes