McGraw-Hill Federal Credit Union
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| Headquarters | East Windsor Township, New Jersey |
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| Website |
www |
McGraw-Hill Federal Credit Union is headquartered in East Windsor, NJ at 120 Windsor Center Drive. It also has a location in the financial district of New York City located at the S and P Global building at 55 Water Street (Concourse Level). The credit union's assets currently exceed $410 million and it has over 21,000 members throughout the world and nearly 120 participating organizations domestically.
Corporate History
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 over 70,000 surcharge-free ATMs nationwide, 5,000 shared branch locations, free Visa Debit Card, and account access any time of day via iPhone, iPad, or Android apps.
2017 Fiscal Report
Derived from the credit union's Annual Report (published September 2017) - In the year ended June 30, the credit union remained financially strong and well-positioned in this dynamic and challenging interest rate environment. The credit union’s assets grew to more than $400 million for the first time in its history – an increase of $37 million (+10%) versus the prior year.
Net Income for the period was $1 million, an improvement of $2.2 million over 2016. Total members’ equity was $44 million and the ratio of net worth to assets remained strong at 11.04%, well above the 7% minimum required to be considered well-capitalized.
The continued success of our lending programs generated growth of $36 million in loan balances, representing an increase of 13%.
A commitment to providing consistently competitive promotional and core deposit products generated growth of $24.7 million in deposit balances, an increase of 8%.
Notable Leadership
Shawn Gilfedder is the current President and CEO, having been appointed in 2006. Michael Sullivan serves as the Executive Vice President/Chief Operations Officer and Jesus E. Moreno serves as the Executive Vice President/Chief Financial 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: Mary Herzich, Board Chair; Maryellen Valaitis, Vice Chair; Sue Young, Treasurer; Gail Miner, Interim Secretary; John Dery, Director; Stephanie Hoopes, PhD, Director; Andrew Hwang, Director; Patrick D. Mahoney, Director; Michael Twamley, Director; and Howard Karp, Director (Emeritus).