The National Credit Union Administration has placed Jackson Area Federal Credit Union in Jackson, Mississippi into conservatorship because of unsafe and unsound practices. Member services will continue while the agency works to resolve issues affecting the credit union’s operations, and member deposits remain protected by the National Credit Union Share Insurance Fund. Share insurance covers individual accounts up to USD 250,000, a member’s combined interest in all joint accounts up to USD 250,000, and IRA and KEOGH retirement accounts separately up to USD 250,000. Members can continue normal transactions, including deposits, withdrawals, loan payments, and share use, through the credit union’s main office. Jackson Area Federal Credit Union is a federally insured, federally chartered credit union with 15,561 members and reported assets of USD 162,360,956, serving employees and officials of the City of Jackson and Hinds County, Mississippi, along with 38 membership groups primarily made up of local government employees.
National Credit Union Administration 2026-05-06
National Credit Union Administration places Jackson Area Federal Credit Union into conservatorship over unsafe and unsound practices
The National Credit Union Administration has placed Jackson Area Federal Credit Union in Jackson, Mississippi into conservatorship due to unsafe and unsound practices, while maintaining full member services and operations. Member deposits remain protected by the National Credit Union Share Insurance Fund, which insures individual, joint, and certain retirement accounts each up to USD 250,000.