# MERCK SHARP & DOHME
CHALFONT, PA · NCUA charter 6574 · asset band $1-10B · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/merck-sharp-and-dohme-6574

Who the members are: federal charter, multiple common bond, organized 1950. 33,306 members of 64,538 potential (51.6% of the field); checking penetration 61% (share draft accounts per 100 members); loans per 100 members 81.

**Verdict on the desk:** this could be *participation buyer*. 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 | $1.01B |
| Members | 33,306 (2.0% YoY) |
| Full-time staff | 90 |
| Net worth | $95.2M |
| Net worth ratio | 9.4% (p20 of band) |
| ROA (annualized) | 0.73% (p52 of band) |
| Total delinquency | 0.27% (p12 of band) |
| Net charge-offs (annualized) | 0.16% (p12 of band) |
| Loans / shares | 50% (p3 of band) |
| Cash / assets | 16.7% |
| Borrowings / assets | 0.00% |
| Net interest margin | 2.35% (p7 of band) |
| Operating expense / assets | 2.25% (p10 of band) |
| Vehicles % of loans | 35% (p67 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 49% |
| Third-party paper % of net worth | 177% (p62 of band) |
| Vehicle delinquency | 0.44% (p32 of band) |
| Vehicle NCO | 0.53% (p20 of band) |
| Repossessed % of vehicle book | 0.00% (p11 of band) |
| Real estate % of loans | 53% |
| Credit cards % of loans | 3% |
| Unsecured % of loans | 8% |
| Commercial % of net worth | 15% |
| Core shares % of member funds | 39% |
| Certificates % of member funds | 33% |
| Average share balance | $12,321 |
| Participations bought / yr | $69.8M |
| Participations sold / yr | $0 |
| Participations outstanding | $99.0M |
| Loans outstanding per 100 members | 81% |
| Loans granted per 100 members, annualized | 8% |
| Average loan balance | $17,038 |
| Loans granted, annualized | $138.4M |

## Participation posture (from the same filings)

Bought $69.8M and sold $0 in the latest annualized quarter; $99.0M outstanding purchased (104.0% of net worth), $0 sold and retained. Sold in 0 and bought in 7 of the last 8 quarters. Shares 9.0% year over year.

## Flags firing in the latest filing

- **net worth falling** (`cap_falling`)
- **3rd-party paper>100% NW** (`str_thirdparty`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 1 | thin capital |  |
| 2016-06 | 0 |  | thin capital |
| 2016-09 | 0 |  |  |
| 2016-12 | 0 |  |  |
| 2017-03 | 2 | thin capital, delinquency rising |  |
| 2017-06 | 0 |  | thin capital, delinquency rising |
| 2017-09 | 0 |  |  |
| 2017-12 | 0 |  |  |
| 2018-03 | 0 |  |  |
| 2018-06 | 0 |  |  |
| 2018-09 | 1 | delinquency rising |  |
| 2018-12 | 1 |  |  |
| 2019-03 | 1 |  |  |
| 2019-06 | 0 |  | delinquency rising |
| 2019-09 | 1 | delinquency rising |  |
| 2019-12 | 0 |  | delinquency rising |
| 2020-03 | 1 | thin capital |  |
| 2020-06 | 3 | net worth falling, margin squeeze |  |
| 2020-09 | 2 |  | net worth falling |
| 2020-12 | 2 |  |  |
| 2021-03 | 2 | net worth falling | margin squeeze |
| 2021-06 | 1 |  | net worth falling |
| 2021-09 | 1 |  |  |
| 2021-12 | 1 |  |  |
| 2022-03 | 1 |  |  |
| 2022-06 | 3 | delinquency rising, 3rd-party paper>100% NW |  |
| 2022-09 | 4 | charge-offs p90 |  |
| 2022-12 | 2 | assets shrinking | thin capital, delinquency rising, charge-offs p90 |
| 2023-03 | 3 | thin capital |  |
| 2023-06 | 2 |  | thin capital |
| 2023-09 | 1 |  | assets shrinking |
| 2023-12 | 1 |  |  |
| 2024-03 | 1 |  |  |
| 2024-06 | 2 | delinquency rising |  |
| 2024-09 | 1 |  | delinquency rising |
| 2024-12 | 1 |  |  |
| 2025-03 | 2 | delinquency rising |  |
| 2025-06 | 1 |  | delinquency rising |
| 2025-09 | 2 | delinquency rising |  |
| 2025-12 | 1 |  | delinquency rising |
| 2026-03 | 2 | net worth falling |  |

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

- 2021-02-25 [Merck Sharp & Dohme FCU names next chief executive - American Banker](https://news.google.com/rss/articles/CBMingFBVV95cUxNSElzamtjUVhzcjZKcnA0V0FRRHJGY2tUMU4teVNBT3g3UUljN0d5VjFKbGJnVjM5cjhJUkhFMXdPcVRrb19NQzBsOUtwaHFmQjRoVjljRnV3UXp3UnEwVGowa2NQWUlrSmtLd0pQZExzdHhIQTFFZkhmV1FlTjZTWkN5cG5VYXliZlZYNmdsUm4tQ29pNzJ4NGRvQk5sQQ?oc=5) · American Banker
- 2024-12-11 [Merck Sharp & Dohme Federal Credit Union celebrates grand re-opening of its Lansdale branch - North Penn Now](https://news.google.com/rss/articles/CBMiyAFBVV95cUxOdkZsRm42MEZGejNCTlQ5azRGWXhkY3ZMVGRMOXQwSHRkRGZWZUdsWkE5ZS1oUEVWU0FsZ0VaZnkyQkpqenN6NHRxcEEwNkFIQlNDUDdhb2xPOWNTX2ZnbWZRU2xUc0dza01YN2stV2ZFLVlMNmpRQ0VYVm9uQkJQWFVaWTFqZGxmZTR0NEtHeXh2R3FQOGlRTGR3ZUtOdEc1YkI0MVBoWVo2LS1LaEdJQXQwMmlySVhJM3JWVHdVT3ptV2JlcHhLVQ?oc=5) · North Penn Now
- 2016-02-23 [Lansdale Business of the Month: Merck Sharp and Dohme Federal Credit Union - Patch](https://news.google.com/rss/articles/CBMipgFBVV95cUxQcVhOSkM2OWJKVGM0UlJUeU9zVFk0Y1lmMGs5YjIzVVdsWFowdU44cUZGQzJpWXJ0QUZrc3FXTGotQmc0V0N6UERKY2h3S0RTV2dpc252elhjZ2tIU090T2lrbUJJSmFqb1NBZU1ZeGhvMGVxWU9YaTBHNEtWMnNSU0tsa0xLMVNkSjJodkYwMk85UlI0UmJmNXZoYkdpOHpDNTc0QUFn?oc=5) · Patch
- 2018-10-30 [Ex-Radian Exec Named CEO at New Britain Mortgage - National Mortgage Professional](https://news.google.com/rss/articles/CBMijwFBVV95cUxQX0pNUXdNczNTTk4xSWN0blEwcE9kUmdoOE8yenZwNlpJSVc3TVFYMVBaaDV5SWZKVVNBSVZ6ZlNhM0MxZGlLOU5YeDAxSDF1MXQ1ZUJfNUxMNG9GR0s3MnNHMUtodmprc0t0Y0pKWk5vOEJuSFQwZVl0UlJDaWlCVmxoenNCbU5lRVVtSDJMMA?oc=5) · National Mortgage Professional
- 2013-07-11 [David Post Obituary Jul 11, 2013 - Huff and Lakjer Funeral Home](https://news.google.com/rss/articles/CBMiYEFVX3lxTFBPcENIVUlyTmJjUjVLR3U4TGNwR2VDMHByY2ZEVEtKWm9ndGJfZy16a3NOWGxZbmpFR1pYaFJ5RjdJWGlHdDVxZm1RU3VOVzFDQ2RUY28tbV9kVUZCLXRKaQ?oc=5) · Huff and Lakjer Funeral Home
- 2012-06-18 [Bucks & Montgomery County business achievers, June 18 - PhillyBurbs](https://news.google.com/rss/articles/CBMivgFBVV95cUxPQUJzMmpGOFBhR3NQdDVNNDdyMVRnUENtZkpjNEZZSlpxcGo4LWU2NmZLMHlhRTlMaE55Z2ZISnJEOTdPV3ppSHVubVJUd3lKbFliNk9HS0pENTZtQ3piNmJxcDhoSUJ6N19kTlhRd0c2U1B2X284SXFpN2FEQVhXSlpqU01DSmFKN1J6Qjk3ZHFOVldSaTkzOTRIblpmalRESS1PNHp3M2J5OUZheGd2R2xIZUEyT0h5R2staUJB?oc=5) · PhillyBurbs
- 2020-09-05 [Celebrating a lifetime of achievement: executives on the move - American Banker](https://news.google.com/rss/articles/CBMirgFBVV95cUxObFJWbUt0VWVKMVNTNnNvUVQySVdLbzVQRnppSHVEUEFFMEJEQWFKYWNuY29YUmZuUzh2RnJraGotN3hKUlVQV3g5bDNsckVYRXFIcHBkc0tzMEw2N1FXMTZ0R3lRQ2YxVnVEVGgyZ29pVWp5alEydHFTMWpTdnlLMG5mX1hfTUhmTlpKTWxqRVJ6UE9BQ2RBY0FYWjkzUlpsSl94WlNQeHZGeThUZ2c?oc=5) · American Banker
- 2024-05-17 [L. Jean (Hannan) Beers - legacy.com](https://news.google.com/rss/articles/CBMijwFBVV95cUxPZTJ5THVQamctVDktYlc2TFRSR2FSOGExVThZSDdxa2MtZWl0ZDRvSWZ2UnA3NnVLeVRQYUFldk12SjdBTlQ4VWlWZGtnZWN1WlZfZTliQzNPVGI4QWd5Z1doRDY4Y0ljdXhwMWYtMmtoOXIzRlBkMDd4SVdKR3V0UG1sS0JaMDVTS21yOW8yZw?oc=5) · legacy.com

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=6574 (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 "6574", 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=6574
- 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