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MERCK EMPLOYEES FEDERAL CREDIT UNION

Dec, 31, 2020 — MERCK EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in RAHWAY, NJ with 5 branch locations and about $2.20 billion in total assets. Opened 85 years ago in 1936, MERCK EMPLOYEES FEDERAL CREDIT UNION has about 24,860 members and employs 25 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:MERCK EMPLOYEES FEDERAL CREDIT UNION
Address:
(Main Office)
126 E LINCOLN AVE
RAHWAY, NJ 07065-4607
Phone:(732) 594-3317
Fax:
Website:http://www.merckcu.com
Branches:5 branch locations
Members:24,860
Credit Union Type:Federal Credit Union
Charter Number:1454
Membership Type:Manufacturing - All Other
Corporate Credit Union:No
Year Opened:1936
Last Audited:Dec 01, 2019
FHLB Member:Yes
Low Income Designation:No
Assets:$2,204,673,031
CEO/Manager:PAUL GENTILE
Chairperson:BERNARD WISNIEWSKI

Call Report

  • Real Estate Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Insurance/Investment Sales
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 96,640,632
TOTAL INVESTMENTS 1,918,079,144
Loans Held for Sale 0
 
 Real Estate Loans 145,271,591
 Unsecured Loans 10,246,523
 Other Loans 7,514,358
 TOTAL LOANS 163,032,472
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -298,417
 Land And Building 1,350,045
 Other Fixed Assets 348,997
 NCUSIF Deposit 14,269,242
 All Other Assets 11,250,916
  TOTAL ASSETS 2,204,673,031
LIABILITIES & CAPITAL:  
 Dividends Payable 5,911,193
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 3,387,646
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 113,913,432
 Regular shares 1,403,304,045
 All Other Shares & Deposits 412,686,685
  TOTAL SHARES & DEPOSITS 1,929,904,162
  TOTAL LIABILITIES 1,939,203,001
 Regular Reserve 15,119,400
 Other Reserves 89,974,937
 Undivided Earnings 160,375,693
  TOTAL EQUITY 265,470,030
  TOTAL LIABILITIES, SHARES, & EQUITY 2,204,673,031
INCOME & EXPENSE  
 Loan Income 6,154,950
 Investment Income 31,566,719
 Other Income 195,792
 Total Employee Compensation & Benefits 3,019,974
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 3,562,543
 Non-operating Income & (Expense) 2,048,233
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 109,000
 Cost of Funds 25,749,817
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 7,524,360
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