Dec, 31, 2023 — MERITUS FEDERAL CREDIT UNION is a federal credit union headquartered in LAFAYETTE, LA with 4 branch locations and about $248.59 million in total assets. Opened 70 years ago in 1954, MERITUS FEDERAL CREDIT UNION has about 24,569 members and employs 76 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MERITUS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 515 Guilbeau Rd LAFAYETTE, LA 70506-6089 |
| Phone: | (337) 989-2800 |
| Fax: | (337) 989-2816 |
| Website: | https://www.merituscu.net |
| Branches: | 4 branch locations |
| Members: | 24,569 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 9643 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $248,589,021 |
| CEO/Manager: | Brian Leger |
| Chairperson: | Dale Henderson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 12,312,120 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 65,274,413 |
| Unsecured Loans | 15,094,503 |
| Other Loans | 71,417,541 |
| TOTAL LOANS | 151,786,457 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -658,523 |
| Land And Building | 7,084,765 |
| Other Fixed Assets | 941,883 |
| NCUSIF Deposit | 2,097,956 |
| All Other Assets | 0 |
| TOTAL ASSETS | 248,589,021 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 723,296 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 4,047,739 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 38,812,947 |
| Regular shares | 97,164,196 |
| All Other Shares & Deposits | 80,222,744 |
| TOTAL SHARES & DEPOSITS | 216,199,887 |
| TOTAL LIABILITIES | 220,970,922 |
| Regular Reserve | 0 |
| Other Reserves | -3,895,047 |
| Undivided Earnings | 31,513,146 |
| TOTAL EQUITY | 27,618,099 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 248,589,021 |
| INCOME & EXPENSE | |
| Loan Income | 8,070,355 |
| Investment Income | 1,851,483 |
| Other Income | 3,473,192 |
| Total Employee Compensation & Benefits | 5,268,573 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 6,371,421 |
| Non-operating Income & (Expense) | 202,424 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 268,818 |
| Cost of Funds | 1,177,724 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,560,648 |
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