Dec, 31, 2021 — MERRITT FEDERAL CREDIT UNION is a federal credit union headquartered in WILTON, CT with 1 branch location and about $13.28 million in total assets. Opened 81 years ago in 1941, MERRITT FEDERAL CREDIT UNION has about 2,212 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: | 2,212 |
| 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: | $13,280,578 |
| CEO/Manager: | Diane L Heggland |
| Chairperson: | David B Hartman |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,247,432 |
| TOTAL INVESTMENTS | 5,147,948 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 3,601,476 |
| Unsecured Loans | 891,185 |
| Other Loans | 1,798,003 |
| TOTAL LOANS | 6,290,664 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -123,574 |
| Land And Building | 567,565 |
| Other Fixed Assets | 1,103 |
| NCUSIF Deposit | 108,101 |
| All Other Assets | 41,339 |
| TOTAL ASSETS | 13,280,578 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 45,022 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,250,988 |
| Regular shares | 7,094,674 |
| All Other Shares & Deposits | 2,740,407 |
| TOTAL SHARES & DEPOSITS | 12,086,069 |
| TOTAL LIABILITIES | 12,131,091 |
| Regular Reserve | 582,172 |
| Other Reserves | 0 |
| Undivided Earnings | 567,315 |
| TOTAL EQUITY | 1,149,487 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 13,280,578 |
| INCOME & EXPENSE | |
| Loan Income | 304,150 |
| Investment Income | 61,332 |
| Other Income | 64,543 |
| Total Employee Compensation & Benefits | 231,905 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 296,654 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -20,838 |
| Cost of Funds | 13,540 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -91,236 |
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