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 |
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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 |
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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 |
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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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