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MERRITT FEDERAL CREDIT UNION

Mar, 31, 2021 — MERRITT FEDERAL CREDIT UNION is a federal credit union headquartered in WILTON, CT with 1 branch location and about $12.85 million in total assets. Opened 80 years ago in 1941, MERRITT FEDERAL CREDIT UNION has about 2,237 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:MERRITT FEDERAL CREDIT UNION
Address:
(Main Office)
3 DANBURY RD
WILTON, CT 06897-4305
Phone:(203) 210-7585
Fax:(203) 210-7587
Website:http://www.merrittfcu.com
Branches:1 branch locations
Members:2,237
Credit Union Type:Federal Credit Union
Charter Number:4303
Membership Type:Multiple common bond - Primarily communications and utilities
Corporate Credit Union:No
Year Opened:1941
Last Audited:Jun 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$12,848,453
CEO/Manager:Diane L Heggland
Chairperson:David B Hartman

Call Report

  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Insurance/Investment Sales
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,689,220
TOTAL INVESTMENTS 4,103,948
Loans Held for Sale 0
 
 Real Estate Loans 3,646,928
 Unsecured Loans 943,601
 Other Loans 1,862,745
 TOTAL LOANS 6,453,274
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -140,205
 Land And Building 586,704
 Other Fixed Assets 1,812
 NCUSIF Deposit 101,285
 All Other Assets 52,415
  TOTAL ASSETS 12,848,453
LIABILITIES & CAPITAL:  
 Dividends Payable 1,129
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 49,546
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,846,207
 Regular shares 7,053,472
 All Other Shares & Deposits 2,673,240
  TOTAL SHARES & DEPOSITS 11,572,919
  TOTAL LIABILITIES 11,623,594
 Regular Reserve 582,172
 Other Reserves 0
 Undivided Earnings 642,687
  TOTAL EQUITY 1,224,859
  TOTAL LIABILITIES, SHARES, & EQUITY 12,848,453
INCOME & EXPENSE  
 Loan Income 80,161
 Investment Income 13,009
 Other Income 15,412
 Total Employee Compensation & Benefits 56,589
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 74,436
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -10,000
 Cost of Funds 3,421
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -15,864
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