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MERRITT FEDERAL CREDIT UNION

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

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
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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