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MERRITT FEDERAL CREDIT UNION

Sep, 30, 2021 — MERRITT FEDERAL CREDIT UNION is a federal credit union headquartered in WILTON, CT with 1 branch location and about $13.10 million in total assets. Opened 80 years ago in 1941, MERRITT FEDERAL CREDIT UNION has about 2,227 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:https://www.merrittfcu.com
Branches:1 branch locations
Members:2,227
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:$13,104,063
CEO/Manager:Diane L Heggland
Chairperson:David B Hartman

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,593,081
TOTAL INVESTMENTS 4,748,948
Loans Held for Sale 0
 
 Real Estate Loans 3,499,368
 Unsecured Loans 904,098
 Other Loans 1,717,456
 TOTAL LOANS 6,120,922
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -118,668
 Land And Building 573,938
 Other Fixed Assets 1,902
 NCUSIF Deposit 108,101
 All Other Assets 75,839
  TOTAL ASSETS 13,104,063
LIABILITIES & CAPITAL:  
 Dividends Payable 1,073
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 60,861
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,913,279
 Regular shares 7,334,141
 All Other Shares & Deposits 2,609,274
  TOTAL SHARES & DEPOSITS 11,856,694
  TOTAL LIABILITIES 11,918,628
 Regular Reserve 582,172
 Other Reserves 0
 Undivided Earnings 603,263
  TOTAL EQUITY 1,185,435
  TOTAL LIABILITIES, SHARES, & EQUITY 13,104,063
INCOME & EXPENSE  
 Loan Income 230,075
 Investment Income 44,994
 Other Income 49,878
 Total Employee Compensation & Benefits 173,794
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 225,591
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -27,195
 Cost of Funds 9,045
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -56,288
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