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 |
|---|---|
| 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 |
|---|---|
| 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 |
|---|---|
| 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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