Magnolia Federal Credit Union
Jackson, MS
- UEI
- R6WWMCK4T5H4
- CAGE
- 7TRV5
- Primary NAICS
- Not on record
- SAM.gov registration
- Active through
Company facts
- Self-certified in SAM.gov
- Entity structure
- Corporate Entity (Tax Exempt)
- Corporate family
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- Jackson, MS XA3SSYJJZSW3
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- SAM.gov registration date
- Physical address
- 240 Briarwood Dr, Jackson, MS 39206, USA
- Website
- magfedcu.org
- Employees
- 11-50
- Estimated annual revenue
- $1M-$10M
- Industry
-
- Financials
- Banks
- Banking & Mortgages
- SIC code
- 60 Depository Institutions
Registration and certifications come from SAM.gov and the SBA; company details from public web sources. Updated .
Grant awards
Grant subawards
| Prime recipient | Prime award | Amount | Awarded |
|---|---|---|---|
| Inclusiv, Inc. | 84094301 | $3,900,000 |
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| Commerce Bancorp, Inc. | Greenwood, MS | — |
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About the company
Magnolia Federal Credit Union is a non-profit financial cooperative based in Jackson, Mississippi, registered in the System for Award Management (SAM.gov) since March 2017. As a certified Community Development Financial Institution (CDFI), the organization focuses on providing financial services and economic development support to underserved and Native American communities. The credit union is committed to creating jobs, building businesses, and fostering economic self-determination through targeted financial products and community-focused initiatives.
The organization has consistently received federal grant awards from the U.S. Department of the Treasury's Community Development Financial Institutions Fund, securing three significant project grants totaling $3,267,900 between 2021 and 2024. These grants include a $1.8 million Rapid Response Program award in June 2021 to address coronavirus-related economic hardships, a $667,900 grant in February 2023 to build organizational capacity, and an $800,000 grant in September 2024 to support economic revitalization efforts. Each grant has been strategically designed to enhance Magnolia Federal Credit Union's ability to provide financial services, create economic opportunities, and support community development, with a particular emphasis on empowering underserved communities through sustainable financial solutions and targeted investment strategies.
Quick answers
Is Magnolia Federal Credit Union registered in SAM.gov?
Yes. Magnolia Federal Credit Union's SAM.gov registration is active through February 18, 2027.
What is Magnolia Federal Credit Union's most recent federal award?
Magnolia Federal Credit Union's most recent federal grant award is To promote economic revitalization and community development through investment in and financial assistance to… (231FA064588G), from Community Development Financial Institutions Fund, on September 26, 2024.
On GovTribe
See Magnolia Federal Credit Union's full federal record
- Federal grant awards
- Funding analysis by agency, NAICS and set-aside
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