Dec, 31, 2023 — MERITRUST FEDERAL CREDIT UNION is a federal credit union headquartered in WICHITA, KS with 14 branch locations and about $1.87 billion in total assets. Opened 89 years ago in 1935, MERITRUST FEDERAL CREDIT UNION has about 116,949 members and employs 372 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MERITRUST FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 151 N Main St WICHITA, KS 67202 |
| Phone: | (316) 683-1199 |
| Fax: | |
| Website: | https://www.meritrustcu.org |
| Branches: | 14 branch locations |
| Members: | 116,949 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24914 |
|---|---|
| Membership Type: | Multiple common bond - Primarily transportation equipment |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Dec 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,870,725,693 |
| CEO/Manager: | James Nastars |
| Chairperson: | Steve Dunn |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 145,271,504 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 1,649,600 |
| Real Estate Loans | 630,484,450 |
| Unsecured Loans | 46,402,157 |
| Other Loans | 845,671,362 |
| TOTAL LOANS | 1,522,557,971 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -10,665,564 |
| Land And Building | 35,458,798 |
| Other Fixed Assets | 7,914,989 |
| NCUSIF Deposit | 14,069,856 |
| All Other Assets | 5,989,710 |
| TOTAL ASSETS | 1,870,725,693 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 181,000,000 |
| Accounts Payable & Other Liabilities | 28,038,108 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 300,341,011 |
| Regular shares | 250,154,455 |
| All Other Shares & Deposits | 948,349,020 |
| TOTAL SHARES & DEPOSITS | 1,498,844,485 |
| TOTAL LIABILITIES | 1,707,882,593 |
| Regular Reserve | 0 |
| Other Reserves | 9,687,913 |
| Undivided Earnings | 153,155,187 |
| TOTAL EQUITY | 162,843,100 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,870,725,693 |
| INCOME & EXPENSE | |
| Loan Income | 74,940,919 |
| Investment Income | 7,524,135 |
| Other Income | 13,826,306 |
| Total Employee Compensation & Benefits | 35,094,164 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 36,760,461 |
| Non-operating Income & (Expense) | -301,282 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,925,890 |
| Cost of Funds | 27,598,847 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 10,398,372 |
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