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877-637-4937
P.O. Box 530953
San Jose, CA 95153

Meriwest Credit Union is headquartered in San Jose and is the 35th largest credit union in the state of California. It is also the 206th largest credit union in the nation. It was established in 1961 and as of March of 2014, it had grown to 195 employees and 67,204 members. Meriwest Credit Union has a B+ health rating.

Field of Membership Restrictions

Must live, work or attend school in Santa Clara County, Alameda County, Contra Costa County, San Mateo County, or San Francisco County in California or Prima County in Arizona. Also open to employees of a participating Meriwest Credit Union member company. - See Details

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Health

Data for Q1 2014

Institution Health

B+

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Meriwest Credit Union had $7.74 million in non-current loans and owned real-estate with $97.78 million in equity and loan loss allowances on hand to cover it. This gives Meriwest Credit Union a Texas Ratio of 7.91% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for Meriwest Credit Union decreased dramatically from 14.57% as of March 31, 2013 to 7.91% as of March 31, 2014, resulting in a positive change of 45.68%.This indicates that the balance sheet and financial strength for Meriwest Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
C+

In the past year, Meriwest Credit Union has decreased its total deposits by -$7.7 million, resulting in -0.81% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Meriwest Credit Union has shown is average.

Capitalization

GRADE:
C+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Meriwest Credit Union has $1.04 billion in assets with $97.78 million in equity, resulting in a capitalization level of 9.40%, which is average.

Institution Statistics

Overall
NCUA #68394
Year Chartered1961
Employees195
Primary Regulator
Assets and Liabilities
Assets$1.04 billion
Loans$638.75 million
Deposits$944.76 million
Equity Capital$87.45 million
Loan Loss Allowance$10.33 million
Unbacked Noncurrent Loans$6.26 million
Real Estate Owned$1.48 million
Historic Data - March 2013
Assets$1.06 billion
Equity Capital$76.39 million
Loan Loss Allowance$13.18 million
Unbacked Noncurrent Loans$6.26 million
Real Estate Owned$2.00 million
Profit Margin - Quarterly
Net Interest Margin0.87%
Return on Assets0.82%
Return on Equity9.78%
Interest Income$7.12 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Meriwest Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Meriwest Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.10%$100-Business Savings
0.05%$100-You Name It Savings
0.03%$100-Regular Savings/Membership Accounts
0.03%$100-Youth Accounts
0.03%$100-Special Savings Accounts
0.03%$100-Custodial/Trust Accounts
0.03%$100-IRA Savings
0.03%$100-Keogh Accumulative
0.03%$100-Holiday Club Account

Meriwest Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.15%$250k-Money Market Account
0.15%$250k-Business Money Market Account

Meriwest Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.01%$100-Smart Checking

Meriwest Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.00%$1k-5 Years Pick-A-Term Share Certificate
1.00%$1k-5 Years Pick-A-Term Share Business Certificate
0.75%$1k-4 Years Pick-A-Term Share Certificate
0.75%$1k-4 Years Pick-A-Term Share Business Certificate
0.50%$1k-3 Years Pick-A-Term Share Certificate
0.50%$1k-3 Years Pick-A-Term Share Business Certificate
0.30%$1k-2 Years Pick-A-Term Share Certificate
0.30%$1k-2 Years Pick-A-Term Share Business Certificate
0.15%$1k-1 Year Pick-A-Term Share Certificate
0.15%$1k-1 Year Pick-A-Term Share Business Certificate
0.10%$10k$10k5-Month Liquid Certificate
0.10%$1k-6 Months Pick-A-Term Share Certificate
0.10%$10k$10k5-Month Liquid Business Certificate
0.10%$1k-6 Months Pick-A-Term Share Business Certificate
0.05%$1k-1 Month Pick-A-Term Share Certificate
0.05%$1k-2 Months Pick-A-Term Share Certificate
0.05%$1k-3 Months Pick-A-Term Share Certificate
0.05%$1k-1 Month Pick-A-Term Share Business Certificate
0.05%$1k-2 Months Pick-A-Term Share Busniness Certificate
0.05%$1k-3 Months Pick-A-Term Share Business Certificate
Locations

Meriwest Credit Union has 12 locations. Click to view all Meriwest Credit Union locations.