Dec, 31, 2023 — MERCED SCHOOL EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in MERCED, CA with 8 branch locations and about $749.52 million in total assets. Opened 70 years ago in 1954, MERCED SCHOOL EMPLOYEES FEDERAL CREDIT UNION has about 48,600 members and employs 134 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MERCED SCHOOL EMPLOYEES FEDERAL CREDIT UNION |
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Address: (Main Office) | 1021 Olivewood Dr MERCED, CA 95348-1218 |
Phone: | (209) 383-5550 |
Fax: | (209) 383-4259 |
Website: | https://mercedschoolcu.org |
Branches: | 8 branch locations |
Members: | 48,600 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 9119 |
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Membership Type: | Multiple common bond - Primarily educational |
Corporate Credit Union: | No |
Year Opened: | 1954 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $749,520,212 |
CEO/Manager: | Nancy Deavours |
Chairperson: | Terry Silva |
ASSETS: | $ Amount |
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Cash & Equivalents | 53,959,795 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 107,297,023 |
Unsecured Loans | 39,787,495 |
Other Loans | 169,716,239 |
TOTAL LOANS | 316,800,757 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,124,185 |
Land And Building | 5,300,749 |
Other Fixed Assets | 1,079,731 |
NCUSIF Deposit | 6,767,501 |
All Other Assets | 446,829 |
TOTAL ASSETS | 749,520,212 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 7,243,582 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 139,384,117 |
Regular shares | 312,778,623 |
All Other Shares & Deposits | 228,584,835 |
TOTAL SHARES & DEPOSITS | 680,747,577 |
TOTAL LIABILITIES | 687,991,159 |
Regular Reserve | 0 |
Other Reserves | -16,580,892 |
Undivided Earnings | 78,109,945 |
TOTAL EQUITY | 61,529,053 |
TOTAL LIABILITIES, SHARES, & EQUITY | 749,520,212 |
INCOME & EXPENSE | |
Loan Income | 15,592,595 |
Investment Income | 8,100,692 |
Other Income | 2,757,042 |
Total Employee Compensation & Benefits | 9,254,920 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 9,577,364 |
Non-operating Income & (Expense) | 259 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,414,000 |
Cost of Funds | 3,813,903 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 7,699,971 |
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