Five Star Credit Union expands into Mississippi

Five Star Credit Union expands into Mississippi

DOTHAN, Alabama, September 30, 2026 — Effective Oct. 1, 2026, Five Star Credit Union, a not for profit member-owned financial institution headquartered in Dothan, Alabama, is expanding into Mississippi through a purchase and assumption of Jackson Area Federal Credit Union. 

"Five Star Credit Union has a strong track record of successfully serving our members and we are excited for the opportunity to expand into Mississippi," said Bob Steensma, CEO of Five Star Credit Union. “This move allows us to serve a membership base that closely aligns with our existing communities and values, while living out our purpose to brighten the financial future of the communities we serve.”
 
Following the liquidation, Five Star Credit Union will hold approximately $1.375 billion in total assets and serve more than 85,000 members through 33 financial centers across Alabama, Georgia and Mississippi.
 
There will be no immediate changes to services for existing members during the month of October 2026. Five Star expects all systems to be fully integrated by November 2026. Once integration is complete, Mississippi members will have access to all Five Star facilities and services across the organization's expanded footprint throughout Alabama, Georgia and Mississippi.
 

“We recognize and appreciate the legacy of Jackson Area Federal Credit Union and the members and community it has served over the years,” Steensma said. “Our goal is to respect those relationships while providing the additional resources, technology, financial solutions and convenience available through Five Star Credit Union.”

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Founded in 1964, Five Star Credit Union is a member-owned, not-for-profit financial cooperative serving more than 85,000 members across Alabama, Georgia and Mississippi. With more than 60 years of service, Five Star provides personal and business financial solutions designed to help members and communities thrive. Five Star’s purpose is to brighten the financial future of the communities we serve. To learn more, visit FiveStarCU.com.