# MERCK EMPLOYEES
RAHWAY, NJ · NCUA charter 1454 · asset band $1-10B · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/merck-employees-1454

Who the members are: federal charter, manufacturing (single sponsor), organized 1936. 23,992 members of 100,000 potential (24.0% of the field); checking penetration 64% (share draft accounts per 100 members); loans per 100 members 23.

**Verdict on the desk:** this could be *liquidity-rich*. Composite score 2 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $1.71B |
| Members | 23,992 (-0.7% YoY) |
| Full-time staff | 18 |
| Net worth | $256.7M |
| Net worth ratio | 15.0% (p93 of band) |
| ROA (annualized) | 0.65% (p45 of band) |
| Total delinquency | 0.37% (p24 of band) |
| Net charge-offs (annualized) | 0.00% (p0 of band) |
| Loans / shares | 17% (p0 of band) |
| Cash / assets | 4.0% |
| Borrowings / assets | 11.33% |
| Net interest margin | 1.02% (p1 of band) |
| Operating expense / assets | 0.47% (p0 of band) |
| Vehicles % of loans | 7% (p7 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 0% |
| Third-party paper % of net worth | 0% (p3 of band) |
| Vehicle delinquency | 0.21% (p12 of band) |
| Vehicle NCO | 0.00% (p1 of band) |
| Repossessed % of vehicle book | 0.00% (p11 of band) |
| Real estate % of loans | 89% |
| Credit cards % of loans | 3% |
| Unsecured % of loans | 3% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 67% |
| Certificates % of member funds | 12% |
| Average share balance | $25,642 |
| Participations bought / yr | $465,280 |
| Participations sold / yr | $0 |
| Participations outstanding | $9.1M |
| Loans outstanding per 100 members | 23% |
| Loans granted per 100 members, annualized | 2% |
| Average loan balance | $39,916 |
| Loans granted, annualized | $27.7M |

## Participation posture (from the same filings)

Bought $465,280 and sold $0 in the latest annualized quarter; $9.1M outstanding purchased (3.6% of net worth), $0 sold and retained. Sold in 0 and bought in 3 of the last 8 quarters. Shares -3.2% year over year.

## Flags firing in the latest filing

- **assets shrinking** (`shrink_assets`)
- **leaning on borrowings** (`str_borrowings`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 1 | delinquency 2x band |  |
| 2016-06 | 0 |  | delinquency 2x band |
| 2016-09 | 0 |  |  |
| 2016-12 | 1 | delinquency 2x band |  |
| 2017-03 | 1 |  |  |
| 2017-06 | 2 | delinquency rising |  |
| 2017-09 | 2 |  |  |
| 2017-12 | 1 |  | delinquency rising |
| 2018-03 | 1 |  |  |
| 2018-06 | 2 | assets shrinking |  |
| 2018-09 | 2 |  |  |
| 2018-12 | 1 |  | assets shrinking |
| 2019-03 | 1 |  |  |
| 2019-06 | 1 |  |  |
| 2019-09 | 1 |  |  |
| 2019-12 | 0 |  | delinquency 2x band |
| 2020-03 | 1 | delinquency 2x band |  |
| 2020-06 | 2 | net worth falling |  |
| 2020-09 | 2 |  |  |
| 2020-12 | 1 |  | delinquency 2x band |
| 2021-03 | 2 | delinquency 2x band |  |
| 2021-06 | 2 |  |  |
| 2021-09 | 1 |  | delinquency 2x band |
| 2021-12 | 0 |  | net worth falling |
| 2022-03 | 0 |  |  |
| 2022-06 | 0 |  |  |
| 2022-09 | 0 |  |  |
| 2022-12 | 2 | assets shrinking, leaning on borrowings |  |
| 2023-03 | 2 |  |  |
| 2023-06 | 4 | losing money, margin squeeze |  |
| 2023-09 | 5 | delinquency rising |  |
| 2023-12 | 5 |  |  |
| 2024-03 | 4 |  | delinquency rising |
| 2024-06 | 4 | delinquency rising | margin squeeze |
| 2024-09 | 3 |  | delinquency rising |
| 2024-12 | 3 |  |  |
| 2025-03 | 3 |  |  |
| 2025-06 | 2 |  | losing money |
| 2025-09 | 1 |  | assets shrinking |
| 2025-12 | 1 |  |  |
| 2026-03 | 2 | assets shrinking |  |

## In the news (Google News, unfiltered, newest first; check the city)

- 2025-08-06 [Top New Jersey credit unions ranked by 2024 assets - NJBIZ](https://news.google.com/rss/articles/CBMia0FVX3lxTE9MNS1kWUVlSTczN2FTNTNCWmxfQlF3bXhHUGw3UXdleHZmNW54VTZKR3JyVHF1V2dpRGpub3FzN0RySEVvWExBWExCcHlmNExuX2NTdlB1X2g4MEdwVHZaOG83T3lFbEJCSmVJ?oc=5) · NJBIZ
- 2018-08-22 [Paul Gentile to leave Cooperative CU Assc. for credit union post - American Banker](https://news.google.com/rss/articles/CBMisgFBVV95cUxNaGtkWEZBOGU1MWxsSjE3TExsYzRWUXNkbzlPR0FFd0EyTTdQaWg5enlqdDBmVEZKRElwMTd5aWhuTjdoZ2ZsQW1wZ2pZUy1yekVrMUZXeHZyQlFOY0JDNVdWVmd5WHp5QkFpdk5sNmRMZjVpbEtOZHktWldtNlZNOUtXVWUtemhudU8wV3ZRUmFlSWhndEwxNEUwekxoNjRYTmVTV0t3dGs4cVFrVWliQVVB?oc=5) · American Banker
- 2018-08-24 [Head of Mass. credit union lobbying group to step down - The Business Journals](https://news.google.com/rss/articles/CBMipwFBVV95cUxPT3E5N2xlNkdfY29VbUkxbWtncFMtX0tQZTBFWVVpYnJ1RHZneENwRHRGXzlsemRaeTk1VWtlQUJjQ1U3LU5kQ2hGZ1ZtdmtabWE3WkZEVm91WEVTdHlxRE9JX2pGWGw0TE1UUG5fM21aM2N4S0ZtWXJ1akFYSkdUZnhIc1lZVXhKZjFsUnFENjRzTlV1VjBUX3VDbkw2M1VXODdkNnlLOA?oc=5) · The Business Journals
- 2026-02-04 [Affinity tops NJBIZ ranking of New Jersey credit unions by assets - NJBIZ](https://news.google.com/rss/articles/CBMidkFVX3lxTE85ZkY2cU5GdkFHQWdkRWU1OVFRYjVONzBwdjg5aFpHQXNhY3prODdYNjh0SlZtQkVzektUZnI4NUZleW1DTVRVaWVLcGQtTTJFc0EzcWhqam5FbUlJS0pBSlBPY1pWUXVBX25ienpkX0szUExOOHc?oc=5) · NJBIZ
- 2016-10-19 [Renee M. Behrens - Higgins and Bonner Echo Lake Funeral Home](https://news.google.com/rss/articles/CBMiZkFVX3lxTE1DellkUzBqbUozd2VJZGtYUG5KcmlESnF1VGtaclJ0TDRHRGhmV1dNRjVvZ2NKYXVYSk16T0JHWTdiOTRHd0ZwbnhKNnZwMXZtSk5MV0ZkeVNfNjRUSFBhaG9jdFZoZw?oc=5) · Higgins and Bonner Echo Lake Funeral Home
- 2016-08-13 [List of banks that support Apple Pay in the United States - 9to5Mac](https://news.google.com/rss/articles/CBMie0FVX3lxTE15UkVmX3k3aURqZXBKcFZCVTJuMEEzWTlLUEpQRDdTR25DQ2lPVXZGeEYycEVZcXl5RThsdlg3aUV6WHZFdWIzWDBUR2ZsT2FUcG1JWU5mbzJ3bVRUT0NjaEFFQXJaV0o1RklzdW03bzN2MXJoV3B1aFhEWQ?oc=5) · 9to5Mac

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=1454 (every cell opens its formula and NCUA account codes; the News tab is the same search)
- Latest row, JSON: https://getbookiq.com/cu-intel/data/summary.json · history: https://getbookiq.com/cu-intel/data/h/46.json (key "1454", columns cycle, assets, loans, shares, networth, nwr, roa, total_dq_pct, total_nco_pct, vehicle, veh_pct_loans, indirect, ind_pct_veh, ind_veh, ind_re, ind_comm, ind_other, ind_pct_loans, loans_n, granted_n_ytd, granted_ann, loan_pen, granted_pen, avg_loan_bal, loans_per_fte, veh_part, tp_pct_nw, veh_dq_pct, veh_nco_pct, repo_pct_veh, members_yoy, ltos, cash_pct, borrow_pct, nim_pct, opex_pct, risk_score, members, fte, cash_total, invest_sec, allowance_eff, int_income_ytd, int_exp_ytd, provision_eff_ytd, nonint_income_ytd, nonint_exp_ytd, net_income_ytd, n_flags, re_pct_loans, cc_pct_loans, comm_pct_loans, cert_pct_shares, core_pct_shares, part_buy_ann, part_sell_ann, pot_members, sh_draft_n, chk_pen, fom_pen, flags)
- Participation history: https://getbookiq.com/participation-desk/#cu=1454
- Field definitions: https://getbookiq.com/dictionary/#cu-ltos and the rest of the credit union dictionary
- Source: NCUA 5300 call report bulk files. Income fields are annualized by cycle month (Mar x4, Jun x2, Sep x4/3, Dec x1). Percentiles are within the asset band in the same quarter.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide