Jackson Area Federal Credit Union review: Minority-led credit union with no monthly service fees
Shayanne Gal/Insider
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Table of Contents: Masthead Sticky
Overall bank rating
| Feature | Insider rating (out of 5) |
| Savings | 3.75 |
| Checking | 3.75 |
| Share certificate | 3.75 |
| Trustworthiness | 3.5 |
| Total | 3.69 |
Pros and cons
| Pros | Cons |
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Related Product Module: Deposit Accounts
Savings
Jackson Area Federal Credit Union Share Savings Account
The Jackson Area Federal Credit Union Share Savings Account has a low $25 minimum opening deposit and no monthly service fees. You'll earn a much better rate with an online high-yield savings account, though.
Checking
Jackson Area Federal Credit Union Share Draft Checking Account
The Jackson Area Federal Credit Union Share Draft Checking Account is a good checking account with no monthly service fees. Keep an eye out for overdrafts, though – you can automatically transfer money from savings as overdraft protection, but you'll pay $5 each time.
Share certificate
Jackson Area Federal Credit Union Share Certificate
Jackson Area Federal Credit Union pays high rates on share certificates, especially compared to other brick-and-mortar institutions.
How Jackson Area Federal Credit Union works
Jackson Area Federal Credit Union Share Savings Account is a minority-led institution in Mississippi. It has one branch in Jackson and one in Byram.
You have free access to ATMs in the Dolphin ATM Alliance network and the Culiance network.
To contact customer support, call either branch Monday through Thursday from 8:00 a.m. to 4:30 p.m. CT. Hours are extended to 5:00 p.m. CT on Friday.
The credit union's mobile app has 3.4 out of 5 stars in the Apple store, and 4.6 out of 5 stars in the Google Play store.
Your deposits are federally insured by the NCUA for up to $250,000, or up to $500,000 for joint accounts.
How to join Jackson Area Federal Credit Union
Because it's a credit union, not a bank, only certain people can join Jackson Area Federal Credit Union Share Savings Account. You're eligible for membership if you meet one of the following criteria:
- Live, work, study, or worship in Hinds County, Mississippi
- Work for a Select Employer Group (See the full list of eligible employers here)
As with most credit unions, you'll need to open a Jackson Area Federal Credit Union Share Savings Account to become a member. You'll also need to visit a branch to take a photo and provide your signature.
Is Jackson Area Federal Credit Union trustworthy?
Jackson Area Federal Credit Union Share Savings Account doesn't have any public controversies.
The Better Business Bureau gives Jackson Area FCU a B- in trustworthiness. The BBB evaluates trustworthiness based on responses to customer complaints, honesty in advertising, and transparency about business practices.
The BBB website states it gave Jackson FCU a B- because the credit union hasn't responded to one customer complaint on the BBB website. But Jackson FCU has only received two customer complaints on the site, so you may want to take this grade with a grain of salt.
How Jackson Area Federal Credit Union compares to similar institutions
We've compared Jackson Area Federal Credit Union to two other minority-led institutions in Jackson: Hope Credit Union and Liberty Bank and Trust.
 Federally insured by the NCUA |
 Hope Credit Union |
 Liberty Bank |
|
Mississippi branches 2 (Jackson, Byram) |
Mississippi branches 12 (Biloxi, Drew, Greenville, Itta Bena, Jackson, Louisville, Moorhead, Shaw, Terry, Utica, West Point) |
Mississippi branches 1 (Jackson) |
|
Standout feature No monthly service fees |
Standout feature High-yield checking account |
Standout feature High interest rates |
| Jackson Area Federal Credit Union Share Savings Account | Hope Credit Union Savings Account | Liberty Bank Personal Checking Account |
Jackson Area Federal Credit Union vs. Hope Credit Union
Hope Credit Union has more branches around Mississippi than Jackson Area Federal Credit Union, which may be more convenient for you. Hope also has a Hope Credit Union Rewards Checking Account that pays Hope Credit Union Rewards Checking Account.
Hope doesn't charge monthly service fees on checking or savings, but it does on the money market account unless you can maintain a $1,000 balance. With Jackson Area FCU, you don't have to worry about monthly service fees.
Jackson Area Federal Credit Union vs. Liberty Bank and Trust
Liberty Bank and Trust pays higher rates on savings and some CD terms than Jackson Area Federal Credit Union. It does charge monthly service fees, but you can waive them by maintaining a certain balance in checking and savings. Jackson Area FCU doesn't charge any monthly service fees, though.
About the author
Laura Grace Tarpley is an editor at Personal Finance Insider, covering bank reviews and guides. She is also a Certified Educator in Personal Finance (CEPF). Over her five years of covering personal finance, she has written extensively about ways to save.
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