Merco Credit Union

Organization Overview

Merco Credit Union is located in Merced, CA. The organization was established in 1967. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Merco Credit Union employed 39 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Merco Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.

For the year ending 12/2021, Merco Credit Union generated $7.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.3% each year. All expenses for the organization totaled $4.9m during the year ending 12/2021. While expenses have increased by 4.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

NON-PROFIT, STATE-CHARTERED, NATURAL PERSON CREDIT UNION. PROVIDE COMPETITIVE FINANCIAL SERVICES TO THE MEMBERS OF MERCO CREDIT UNION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDED DEPOSIT AND LOAN ACCOUNTS TO 12,139 MEMBERS. PROVIDED LOW COST SOURCE OF CREDIT AND LOW COST FINANCIAL SERVICES TO OUR MEMBERS. PROVIDED SOURCE FOR MEMBER SAVINGS AND CHECKING ACCOUNT NEEDS.


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Board, Officers & Key Employees

Name (title)Compensation
David W Ness
President & CEO
$187,974
David Bren Horrocks
VP Finance/cfo
$117,227
Donna Winchester
VP Hr &training
$106,639
Jennifer Toste
VP Branch Op
$102,895
Shay Lopez
VP Chief Lendin
$101,554
David Baker
Audit Committee
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$3,736,929
Investment income $503,942
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $7,644,762

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