Magnolia Federal Credit Union
240 Briarwood Dr
Jackson, MS 39206
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2021 Overview
General Credit Union Information
Magnolia is an NCUA insured institution located in Jackson, MS. It was founded in 1935 and has approximately $161.52 millions in assets.
| NCUA Insured | Yes / Federally Chartered |
| Charter Number # | # 224 |
| Date Established | 1935 |
| Assets | $161.52 million |
| Loans | $68.64 million |
| Deposits | $138.10 million |
| Capital | $22.47 million |
Field of Membership Restrictions
Deposit Rates - October 21, 2021
Your Current Location: Connecticut, CT 06828
| Checking Rates | APY | MIN | FEE | |
|---|---|---|---|---|
| Kasasa Cash | 2.75% | $0 | $0.00 | Learn More |
Loan Rates - October 21, 2021
Your Current Location: Connecticut, CT 06828
There are currently no loan rates available for MAGNOLIA
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Connecticut 30 Year Fixed Mortgage Rates 2021
| Lender | APR | Rate (%) | Points | Fees | Monthly Payment |
Learn More |
|---|---|---|---|---|---|---|
NMLS ID: 541760 |
3.102% | 3.025% | 1.00 | $2,465 | $1,058 | Learn More |
NMLS ID: 2890 License#: 13256 |
2.809% | 2.750% | 0.75 | $1,908 | $1,021 | Learn More |
NMLS ID: 330511 |
3.064% | 3.000% | 0.88 | $2,065 | $1,055 | Learn More |
NMLS ID: 417490 |
3.289% | 3.250% | 0.50 | $1,242 | $1,089 | Learn More |
Featured - Connecticut Home Equity Line Of Credit Rates 2021
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Bethpage Federal Credit Union See Table |
Intro APR 2.990 % After Intro: 3.750 % Intro Period: 12 months |
$25,000 |
Learn More
More Info |
Third Federal Savings and Loan See Table |
2.240 %
|
$0 |
Learn More
More Info |
Note to MAGNOLIA
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Branches
Below are Magnolia branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Fairfield,Connecticut
Climate Initiatives
MAGNOLIA is encouraged to provide us with this information. When we receive this information from the credit union, we will provide it here.
Financial Details
Magnolia Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Magnolia. The data is provided by the NCUA. All credit unions on BestCashCow, except those specified as not NCUA-insured in the overview section above, are NCUA-insured. Depositors should be careful to remain within NCUA insurance limits.
Texas Ratio
| Magnolia | U.S. Average |
|---|---|
| 2.25% | 3.79 |
The Texas Ratio compares the amount of loans at risk and assets repossessed with the amount a credit union has on hand to cover any losses. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a credit union has to absorb its loan losses.
As of June 30, 2021, Magnolia had $503,302 in non-current loans and $24,982 in owned assets. To cover these potential losses it had $22,473,330 in net worth and $1,029,998 in loans loss reserves. That gives it a Texas Ratio of 2.25%.
Net Worth
| Magnolia | U.S. Average |
|---|---|
| 13.91% | 12.22% |
Magnolia FCU has a net worth of 13.91% versus the BestCashCow average of 12.22. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.
Frequently Asked Questions About Magnolia
Branches and Savings
What is Magnolia?
A federal credit union, registered with the NCUA under certificate #224.
Learn more about credit unions here.
Is Magnolia FDIC insured?
No, credit unions are not insured by the FDIC. Most, but not all, are insured by the National Credit Union Administration. The insurance provisions of the NCUA are similar to, but not identical to, FDIC insurance. Magnolia is insured by the NCUA.
Who can join Magnolia?
Please see Field of Membership information above for information on who is eligible to join.
How big is Magnolia?
Magnolia has total capital of $22.47 million. Full information on Magnolia's financial position is located above.
Who owns Magnolia?
Credit Unions are owned by their members.
Where are Magnolia branches located?
See branch locations nearby.
Are Magnolia ATMs Open 24/7?
Do Magnolia ATMs accept cash deposits?
Can Magnolia customers use other ATMs? What is the charge for withdrawing money from another ATM?
Does Magnolia have a mobile app?
Does Magnolia have mobile deposit?
Does Magnolia have quick pay?
How can Magnolia transfer money to other banks or credit unions?
Does Magnolia report to credit bureaus?
Does Magnolia use Chexsystems?
Does Magnolia use Equifax?
What is Magnolia's toll free phone number?
What is Magnolia's ACH Routing Number?
What is Magnolia's SWIFT code?
Where can I find Magnolia's wire transfer form?
What is the Magnolia address for deposits?
What Products Does Magnolia Offer
Does Magnolia offer home equity lines of credit and home equity loans?
Compare home equity lines of credit rates here.
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