Dec, 31, 2023 — MERCK EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in RAHWAY, NJ with 4 branch locations and about $1.99 billion in total assets. Opened 88 years ago in 1936, MERCK EMPLOYEES FEDERAL CREDIT UNION has about 24,889 members and employs 21 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: | https://www.merckcu.com |
| Branches: | 4 branch locations |
| Members: | 24,889 |
| 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, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,992,774,612 |
| CEO/Manager: | PAUL GENTILE |
| Chairperson: | PATRICK RUANE |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 12,912,213 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 188,011,799 |
| Unsecured Loans | 8,142,144 |
| Other Loans | 17,353,118 |
| TOTAL LOANS | 213,507,060 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -320,257 |
| Land And Building | 1,207,557 |
| Other Fixed Assets | 254,314 |
| NCUSIF Deposit | 13,115,935 |
| All Other Assets | 0 |
| TOTAL ASSETS | 1,992,774,612 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 5,438,224 |
| Notes & Interest Payable | 346,000,000 |
| Accounts Payable & Other Liabilities | 4,010,146 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 123,455,774 |
| Regular shares | 936,926,156 |
| All Other Shares & Deposits | 365,023,921 |
| TOTAL SHARES & DEPOSITS | 1,425,405,850 |
| TOTAL LIABILITIES | 1,780,854,220 |
| Regular Reserve | 0 |
| Other Reserves | 24,444,838 |
| Undivided Earnings | 187,475,554 |
| TOTAL EQUITY | 211,920,392 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,992,774,612 |
| INCOME & EXPENSE | |
| Loan Income | 8,645,930 |
| Investment Income | 27,526,306 |
| Other Income | 154,678 |
| Total Employee Compensation & Benefits | 3,191,715 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,426,178 |
| Non-operating Income & (Expense) | 23,425 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 217,785 |
| Cost of Funds | 35,138,824 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -4,622,274 |
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