Magnolia Federal Credit Union
240 Briarwood Dr
Jackson, MS 39206
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2022 Overview
General Credit Union Information
Magnolia is an NCUA insured institution located in Jackson, MS. It was founded in 1935 and has approximately $166.02 millions in assets.
| NCUA Insured | Yes / Federally Chartered |
| Charter Number # | # 224 |
| Date Established | 1935 |
| Assets | $166.02 million |
| Loans | $79.31 million |
| Deposits | $139.82 million |
| Capital | $23.97 million |
Field of Membership Restrictions
Deposit Rates - June 28, 2022
Your Current Location: California, CA 92111
| Checking Rates | APY | MIN | FEE | |
|---|---|---|---|---|
| Kasasa Cash | 2.75% | $0 | $0.00 | Learn More |
Loan Rates - June 28, 2022
Your Current Location: California, CA 92111
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 - California 30 Year Fixed Mortgage Rates 2022
| Lender | APR | Rate (%) | Points | Fees | Monthly Payment |
Learn More |
|---|---|---|---|---|---|---|
NMLS ID: 330511 |
5.579% | 5.500% | 0.88 | $2,178 | $1,420 | Learn More |
NMLS ID: 1708856 License#: 02058287 |
5.348% | 5.250% | 0.63 | $2,758 | $1,381 | Learn More |
|
NMLS ID: 1708856 License#: 02058287 |
5.348% | 5.250% | 0.63 | $2,758 | $1,381 | Learn More |
NMLS ID: 2890 License#: 413-0477 |
5.483% | 5.375% | 0.75 | $3,012 | $1,400 | Learn More |
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:
San Diego,California
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 |
|---|---|
| 2.53% | 4.85 |
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 December 31, 2021, Magnolia had $593,858 in non-current loans and $32,250 in owned assets. To cover these potential losses it had $23,966,841 in net worth and $818,272 in loans loss reserves. That gives it a Texas Ratio of 2.53%.
Net Worth
| Magnolia | U.S. Average |
|---|---|
| 14.43% | 12.36% |
Magnolia FCU has a net worth of 14.43% versus the BestCashCow average of 12.36. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.
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