At a glance
From its website, read 2 Nov 2026Magnolia Federal Credit Union is a credit union based in Jackson, Mississippi. Its website describes auto loans, credit-builder loans, small-dollar emergency loans and 1 other loan type. Stated loan amounts run from $500. The consumer loan APR it states is 28%. It says it considers borrowers with low or no credit history. You can start an application online.
Each point is backed by a quote further down this page. Terms change: confirm with the lender.
How to reach them and apply
| Lending | (601) 977-8303 source |
|---|---|
| applyloan@magfedcu.org source | |
| Apply online | Page with the application link |
| Website | www.magfedcu.org |
| Office (official list) | 240 Briarwood Drive, Jackson, MS 39206 |
What their website says about applying
Come into a branch today or apply right here online.
sourceYou can start applying right here online.
source
Phone numbers and addresses are the ones on the lender's own site and the CDFI Fund list. CDFI Atlas does not take applications.
Rates and terms they state
Read 2 Nov 2026| Loan | Stated | Text on the lender's site (verbatim) | Page |
|---|---|---|---|
| Auto / vehicle loans | Rate stated, not as an APR: see their wording | 5.00% - 18.00% | source |
| Personal / consumer loans | Rate: 28% APR | 3-month terms with a 28% APR | source |
| Auto / vehicle loans | Term: see their wording | Flexible terms up to 84 months | source |
| Credit-builder loans | Term: see their wording | 12 month term | source |
| Personal / consumer loans | Term: up to 3 mo | 3-month terms with a 28% APR | source |
As published on the lender's website on that date, not an offer or a quote. Your rate depends on the lender's review. A missing rate means the pages we read did not state one. For consumer loans we repeat a rate only when the lender states it as an APR (annual percentage rate, which includes fees); otherwise read the lender's own wording and ask for the APR.
Who qualifies, in their words
- Low or damaged credit considered
If your credit makes it difficult for you to find car financing, we have a special loan available.
source - No or thin credit history considered
designed to help our members with little to no credit
source - Membership required
Membership required. See credit union for complete details.
source - Collateral required
Funds are deposited into your share account and will be held as collateral.
source
Only rules the lender's own pages state. Other requirements may apply.
Official record
CDFI Fund list, 21 Oct 2026| Institution type | Credit union |
|---|---|
| Native CDFI | No |
| Date certified (as listed) | 17 Apr 2015 |
| RSSD ID | 22972 |
| Address | 240 Briarwood Drive, Jackson, MS 39206 Directions (Google Maps) |
| Website | www.magfedcu.org |
Head officeBranch or officeApproximate (ZIP code area)
Map data © OpenStreetMap contributors, © OpenMapTiles, tiles OpenFreeMap. Head-office points: U.S. Census Bureau geocoder.
Loans and eligibility
Verified from lender site on 2 Nov 2026Read from 7 pages of the lender's website on 2 Nov 2026. Quotes are verbatim. Extracted with AI help from the pages listed below and checked automatically against them. Not reviewed by a person. Confidence: high. Mortgage loans are offered through partner Rocket Mortgage and no mortgage amounts are stated. Terms change — confirm with the lender before applying.
| Product | Amount stated | Text on the lender's site (verbatim, incl. menu labels) | Page |
|---|---|---|---|
| Auto / vehicle loans | — | We finance both new and used vehicles, so you can pick something that’s right for your life right now. | source |
| Credit-builder loans | $1,000 – $1,000 | $1,000 loan amount | source |
| Small-dollar / emergency loans | — | Get $500 quickly with our Short-Term Small Dollar Loan. | source |
| Home mortgages | — | Purchase or refinance loans | source |
Loan sizes
Get $500 quickly with our Short-Term Small Dollar Loan.
sourceBorrow $1,000 or more
source$1,000 loan amount
source
Range used for the size filter: $500 to not stated
Service area
Not stated on the pages we read.
Borrower focus
- Not stated on the pages we read.
Languages
- No non-English service found on the pages we read.
Online application
Yes — the site links to an application. You can start applying right here online.
source
Pages read (7)
- https://magfedcu.org/
- https://magfedcu.org/loans-2/vehicle/auto-loans/
- https://magfedcu.org/loans-2/personal/short-term/
- https://magfedcu.org/loans-2/home-2/home-mortgage-2/
- https://magfedcu.org/loans-2/vehicle/recreational-loans/
- https://magfedcu.org/loans-2/personal/credit-builder-loans/
- https://magfedcu.org/services-resources/financial-counseling/
Questions to ask when you contact them
Based on what their website said when we read it on 2 Nov 2026, and what it left out. Something missing here does not mean they don't offer it: ask.
- Do you lend where I live, or where my business is?
Their website does not say which area they serve. - How do I become a member, and is there a fee or a minimum deposit?
Credit unions lend only to their members. - What is the largest loan you make?
Their website gives a minimum ($500) but no maximum. - What is the APR, including fees, on your auto loans and credit-builder loans?
Their website states a rate, but not as an APR. The APR includes fees, so it is the number to compare. - Do you offer down-payment help, and is a homebuyer education course required?
CDFI home loans often come with homebuyer education or down-payment help; their website does not say. - What documents will you need from me, and how long does a decision usually take?
Their website describes some application steps (above); ask for the full document list.
Write down the answers, who you spoke to and the date, and ask for the terms in writing before you sign.
CDFI Fund awards
CDFI Fund database, 3 Nov 2026$4 million in 4 awards from the U.S. Treasury's CDFI Fund, 2019–2024 (CDFI Program, Financial Assistance; CDFI Rapid Response Program).
| Round year | Program | Amount |
|---|---|---|
| 2024 | CDFI Program, Financial Assistance | $800,000 |
| 2022 | CDFI Program, Financial Assistance | $667,900 |
| 2021 | CDFI Rapid Response Program | $1,826,265 |
| 2019 | CDFI Program, Financial Assistance | $714,000 |
These are awards and investments made to the institution itself to build its capital and capacity. They are not loans to borrowers, and an award does not mean the lender has money available for a particular loan today.
Source: CDFI Fund Searchable Awards Database, all 12,628 award records (1996–2025), read 3 Nov 2026. Years are the award round as the database lists it. Matched to the official CDFI list by exact name and state; see the method on the About page.
Branches and size
NCUA, 30 Jun 2026On file with the NCUA as MAGNOLIA (charter 224). Source: NCUA 5300 Call Report quarterly data (public data) as of 30 Jun 2026, downloaded 3 Nov 2026: total assets, members and branch addresses.
| Total assets | $185.6 million (as of 30 Jun 2026) |
|---|---|
| Members | 21,013 (as of 30 Jun 2026) |
| Offices | 5 (as of 30 Jun 2026) |
Offices by state and county (5)
Mississippi (5 offices)
- Hinds County (1): 240 Briarwood Dr, Jackson 39206 (main office)
- Madison County (1): 1770 Highway 51, Madison 39110
- Pike County (1): 913 Delaware Ave, Mccomb 39648
- Rankin County (1): 2847 Lakeland Dr, Flowood 39232
- Scott County (1): 5134 Highway 80, Morton 39117
An office shows where the lender has a branch, not where it lends or whom it lends to. Credit unions serve members only; check who can join. For the ZIP-code search, credit-union offices are placed at the centre of their ZIP code (approximate).
What the regulator filing shows
NCUA 5300, 30 Jun 2026Figures from the 5300 Call Report filed by Magnolia Federal Credit Union (NCUA charter 224, filed as “MAGNOLIA”). Source: NCUA 5300 Call Report quarterly data (public data), cycle 30 Jun 2026; year-earlier figures from the 30 Jun 2025 cycle; downloaded 3 Nov 2026.
| Total loans and leases | $118.4 million, 13,876 loans (as of 30 Jun 2026) |
|---|---|
| Change over the year | Down 2.1% from $120.9 million on 30 Jun 2025 |
| Members | 21,013 (as of 30 Jun 2026); 26,100 (as of 30 Jun 2025) |
| Loans per member | $5,636 (total loans divided by members, 30 Jun 2026) |
| Total assets | $185.6 million (as of 30 Jun 2026) |
Loan mix (balances on 30 Jun 2026)
| Loan category | Balance | Share |
|---|---|---|
| New vehicle loans | $16.7 million | 14.1% |
| Used vehicle loans | $68.6 million | 57.9% |
| First-lien home mortgages (1-4 family) | $5.5 million | 4.6% |
| Other real estate loans (junior liens, other) | $8.5 million | 7.2% |
| Commercial (business) loans | $100,000 | 0.1% |
| Credit cards | $3.6 million | 3.1% |
| Other unsecured loans | $13.3 million | 11.2% |
| Leases and other secured loans | $2.1 million | 1.8% |
Balances are loans outstanding on the report date, not loans made during the year. A category with no balance does not mean the credit union never makes that kind of loan. Credit unions lend to members only; check who can join.
How it compares
Computed from public data| Measure | This lender | Compared with |
|---|---|---|
| Total assets (Call Report, 30 Jun 2026) | $185.6 million | Larger than 67% of the 6 other certified credit unions in Mississippi (median $118.9 million). |
| Loans as a share of assets | 64% | Median of the same 6 credit unions: 66%. A higher share means more of its balance sheet is lent out. |
| Loans held, 30 Jun 2025 → 30 Jun 2026 | $120.9 million → $118.4 million (-2%) | Median change of 6 other certified credit unions in Mississippi: +2%. Rank by loans held among these 7: 3 → 3. |
How these comparisons were worked out
| Measure | Peer group (this lender left out) | Peers | Where this lender sits |
|---|---|---|---|
| Call Report total assets | other certified credit unions in Mississippi | 6 | larger than 67% |
| Loans held then vs now | certified credit unions in Mississippi reporting both dates | 6 | rank 3 → 3 of 7 |
“Larger than X%” = the share of the peer group with a smaller value. Ranks count from the largest. Peer groups use the lender's home state when it has at least 5 peers, otherwise the whole country. Full definitions: methodology.
For comparison, not an offer and not a rating. Past records show what this lender did, not what you would be offered. Peer groups and sources: methodology. Assets and loans: FFIEC and NCUA Call Reports (see the loan-mix section).
Other certified CDFIs in Jackson and Mississippi
- Culleywood Capital LLCLoan fund · Jackson, MSAffordable housing development loans, Nonprofit / community facility loans, Small-business loansVerified
- Hope Enterprise CorporationLoan fund · Jackson, MSAuto / vehicle loans, Small-dollar / emergency loans, Personal / consumer loans, Small-business loansVerified
- HOPE FEDERAL CREDIT UNIONCredit union · Jackson, MSAuto / vehicle loans, Commercial real estate loans, Equipment loans, Home mortgages…Verified
- BANK OF BROOKHAVENBank or thrift · Brookhaven, MSAuto / vehicle loans, Home repair / improvement loans, Home mortgages, Small-business loansVerified
- BANKPLUSBank or thrift · Belzoni, MSCredit-builder loans, Home mortgages, Personal / consumer loans, Small-business loansVerified
- Bancorp Of Okolona, INcBank holding company · Okolona, MSVerified
Work at Magnolia Federal Credit Union? Link to this page
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