Merco Credit Union is headquartered in Merced and is the 157th largest credit union in the state of California. It is also the 1,642nd largest credit union in the nation. It was established in 1966 and as of December of 2013, it had grown to 30 employees and 10,469 members. Merco Credit Union has a B+ health rating.
Must live or work in Merced or Mariposa County and makes a donation ($10 minimum) to the Friends of the Library of Merced or the Friends of the Library of Mariposa. Also open to employees of Merced County or several other companies and organizations. - See Details
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The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Merco Credit Union had $241,000 in non-current loans and owned real-estate with $7.96 million in equity and loan loss allowances on hand to cover it. This gives Merco Credit Union a Texas Ratio of 3.03% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Merco Credit Union experienced no significant changes from 2.31% as of December 31, 2012 to 3.03% as of December 31, 2013, resulting in a negative change of 30.91%. This indicates that the balance sheet and financial strength for Merco Credit Union has had no significant changes in recent periods.
In the past year, Merco Credit Union has increased its total deposits by $3.6 million, resulting in 4.84% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Merco Credit Union has shown is excellent.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Merco Credit Union has $85.94 million in assets with $7.96 million in equity, resulting in a capitalization level of 9.26%, which is average.
|Assets and Liabilities|
|Equity Capital||$7.36 million|
|Loan Loss Allowance||$596,000|
|Unbacked Noncurrent Loans||$136,000|
|Real Estate Owned||$105,000|
|Historic Data - December 2012|
|Equity Capital||$6.67 million|
|Loan Loss Allowance||$679,000|
|Unbacked Noncurrent Loans||$136,000|
|Real Estate Owned||$0|
|Profit Margin - Quarterly|
|Net Interest Margin||7%|
|Return on Assets||0.81%|
|Return on Equity||9.42%|
|Interest Income||$3.01 million|
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|0.20%||$50k||-||Premier Money Management Account|
|0.12%||$7,500||-||Classic Money Management Account|
|0.10%||-||-||Holiday Club Account|
|0.10%||$500||-||IRA Savings Account|
|0.10%||$500||-||Coverdell Education Savings Account|
|0.10%||$500||-||Roth IRA Savings Account|
|0.05%||$100||-||Regular Savings Account|
|0.90%||$2,500||-||5 Year Money Fund Share Certificate|
|0.30%||$2,500||-||2 Year Share Certificate|
|0.30%||$2,500||-||30 Month Mini-Fund Share Certificate|
|0.20%||$2,500||-||1 Year Share Certificate|
|0.15%||$1k||-||6 Month Share Certificate|
|0.15%||$2,500||-||9 Month Share Certificate|
|0.95%||$2,500||-||5 Year Money Fund IRA Certificate (Traditional,Roth,CESA)|
|0.35%||$2,500||-||2 Year IRA Certificate (Traditional,Roth,CESA)|
|0.35%||$2,500||-||30 Month Mini-Fund IRA Certificate (Traditional,Roth,CESA)|
|0.25%||$2,500||-||1 Year IRA Certificate (Traditional,Roth,CESA)|
|0.20%||$1k||-||6 Month IRA Certificate (Traditional,Roth,CESA)|
|0.20%||$2,500||-||9 Month IRA Certificate (Traditional,Roth,CESA)|
|Merco Credit Union Locations|
|Branch Office||1655 Bellevue Rd||Atwater, CA 95301-2608|
|Branch Office||1911 M ST||Merced, CA 95340-3706|
|Branch Office||5011 Coakley Cir||Mariposa, CA 95338-8519|