Meriwest Credit Union is headquartered in San Jose and is the 35th largest credit union in the state of California. It is also the 212th largest credit union in the nation. It was established in 1961 and as of June of 2021, it had grown to 227 employees and 89,760 members at 11 locations. Meriwest Credit Union's savings rates are 4X the national average, and it has an A health rating.
Field of Membership Restrictions
Membership in Meriwest Credit Union is open to those who live, work, or attend school in Alameda, Contra Costa, San Francisco, San Mateo, or Santa Clara Counties in California or Pima County in Arizona.
See current membership details
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Such a great credit union!
Meriwest rocks! The tellers are always happy to see you, there is never a line and they offer a number of great services for everyone in the family. Absolutely love them! I only wish they had more locations.
They waive non-Meriwest ATM charges, they waive Coinstar charges, they give excellent service, and they're very easy to work with. I was with Wells Fargo for 20+ years and Meriwest is a much better place to bank!
I've been impressed with Meriwest Credit Union since I opened an account there last year. I have a checking account and an auto loan with them. I got my car loan last August, and have been in only a couple times since then for deposits and withdrawals (I prefer teller transactions vs. the ATM). Today I went in to open another account, the supervisor with whom I opened my car loan and hadn't seen since last year, recognized me right away. He helped me through the process of opening a new account quickly, and was very gracious and helpful.
One of the best around
This credit union has absolutely great employees who are very dedicated to making you happy. I applied for a home loan here and the process was very smooth and involved me interfacing with a few people from different departments. They all had the same friendly way of going about things and were extremely precise in what they needed from you and did so with a smile. I enjoyed my experience so much that I even opened up a checking and savings accounts. This credit union is awesome!
Values New Members More Than Existing Members
I'm revising my review, because as a long-time member of Meriwest, I'm being treated as less important that a possible new member.
Meriwest has a "premier" savings account that pays some of the best interest rates in the state of California... but only if you open it within 30 days of becoming a member. I've been a member more than 30 days, so I have to close out my membership and wait six months to re-establish a new membership to be eligible.
All in all, it's an experience that goes against the "member-owned credit unions treat you better than a bank" assertion.
Data as of Q2 2021
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68394 |
| Year Chartered | 1961 |
| Employees | 227 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.62% |
| Return on Equity - YTD | 8.82% |
| Annual Interest Income | $27.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2021vs Q2 2020 | $1.95B$1.86B |
| Loans | Q2 2021vs Q2 2020 | $1.35B$1.40B |
| Deposits | Q2 2021vs Q2 2020 | $1.60B$1.50B |
| Equity Capital | Q2 2021vs Q2 2020 | $136.2MM$131.7MM |
| Loan Loss Allowance | Q2 2021vs Q2 2020 | $7.7MM$8.8MM |
| Unbacked Noncurrent Loans | Q2 2021vs Q2 2020 | $3.6MM$3.2MM |
| Real Estate Owned | Q2 2021vs Q2 2020 | $0$0 |
