McGraw-Hill Federal Credit Union

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McGraw-Hill Federal Credit Union is headquartered in East Windsor, NJ at 120 Windsor Center Drive. It has branch offices in New York City at 2 Penn Plaza, 55 Water Street, and 1221 Avenue of the Americas. The credit union's assets currently exceed $277 million as it serves the financial needs of over 18,500 members throughout the world and 120 participating organizations domestically.

Corporate History[edit]

McGraw-Hill Federal Credit Union (MHFCU) was established in 1935, originally to serve employees of The McGraw-Hill Companies in New York City. The credit union moved from its location at The McGraw-Hill Companies offices in Hightstown, N.J., to its current location in East Windsor, N.J. in July 2005.

The credit union provides its members with savings accounts, insured to at least $250,000, that include traditional savings, High-Yield and Free checking, CDs, money market, and IRA accounts. Many of these accounts exceed the national average in terms of annual percentage yield. Its menu of lending solutions includes Visa Platinum credit card, new and used auto loans, home equity loan and line of credit, fixed/adjustable rate mortgages, personal loans, and student loans.

Additionally, the credit union offers remote-access via 30,000 surcharge-free ATMs nationwide, 4,300 shared branch locations, free Visa Debit Card, and account access any time of day via iPhone or Droid apps.

2011 Fiscal Report[edit]

Derived from the credit union's Annual Report (September 29, 2011) - In the year ended June 30, 2011, the credit union returned 15.2% of gross revenue to the membership in dividends on deposit products. The credit union's net worth ratio of 14.39% exceeded its peer group average by almost 50%. The credit union remained stronger than ever with a return on average assets of 50 basis points before insurance premiums.

Deposit balances grew 7.70%, or 14.9 million, over the previous year with total membership surpassing 17,000 and total assets reaching 256.7 million. While most financial solutions have experienced stagnant loan growth over the past 12 months, the credit union's balances increased 13.9%, or 18.5 million, with delinquencies kept to a minimum and well below industry averages.

Notable Leadership[edit]

Shawn Gilfedder is the current President and CEO, having been appointed in 2006. Joseph Conners serves as the Chief Financial Officer, Michael Sullivan serves as the Chief Operations Officer, and Peter Van Houten serves as the Chief Sales and Delivery Officer.

Tyler G. Hicks is the credit union’s longest serving president and CEO, holding the position from 1970-1995. He continues to serve on the credit union’s board and is joined by: Gail Miner: Board Chair; Del Johnson: Vice Chair; Mary Beth Drake: Secretary; Sue Young: Treasurer; John Dery: Board Member; Stephen Doran, CPA: Board Director; Stephanie Hoopes Halpin, PhD: Board Director; Rebecca Sant, CCP, CEBS: Board Director.

References[edit]

  • [1]. Retrieved November 10, 2010