Meriwest Credit Union is Awarded BauerFinancial's Five Star Rating For the 15th Consecutive Quarter
02/15/08
San Jose, CA - Meriwest Credit Union, one of the largest credit unions serving Silicon Valley, the Greater Bay Area and Tucson, Arizona, announced today that for the 15th consecutive quarter, the Credit Union has received a five-star rating for "Superior Service" from BauerFinancial Inc., the leading independent credit union rating firm.
According to BauerFinancial, Five-Star rating recipients are safe, financially sound credit unions that are operating well above their regulatory capital requirements. Furthermore, as a result of the five-star rating distinction, Meriwest makes BauerFinancial's list of "Recommended Credit Unions."
"To be awarded a Five-Star rating for 15 straight quarters is a magnificent achievement," said Christopher Owen, President and CEO of Meriwest Credit Union, "It is a tribute to the tremendous level of service our employees and management team provide to our entire membership."
"A Five-Star rating for 15 consecutive quarters is an achievement that reflects teamwork and dedication on the part of Meriwest Credit Union's entire staff," said Karen L. Dorway, President of BauerFinancial. "We receive thousands of calls and hits on our Web site every week, and it is our pleasure to unconditionally recommend Meriwest Credit Union."
Based on BauerFinancial's ratings criteria, credit unions are classified on a zero- to five-star scale, which takes into account the institution's capital, historical trends, loan delinquencies, reserves, charge-offs, regulatory compliance and asset quality. BauerFinancial has been reporting on, and analyzing, the performance of U.S. banks and credit unions since 1983.
About Meriwest Credit Union
Meriwest Credit Union, one of Silicon Valley's largest and established financial institutions, has been providing proactive, personal, convenient and innovative financial products and services to businesses and families throughout the Greater Bay Area and Tucson, Arizona, for more than 45 years. Meriwest is ranked as a 5-Star financial institution, as rated by BauerFinancial, and has received this rating for 15 consecutive quarters. More information can be found at www.meriwest.com.
About BauerFinancial, Inc.
Established in 1983, BauerFinancial, Inc. analyzes and reports on the financial condition of the nation's banks and credit unions. Each bank and credit union is required to file a detailed financial report with its government regulators. BauerFinancial obtains the raw data from the federal government and analyzes it completely and independently, supplementing it with additional research and historical data. Upon completion of the analysis, a star-rating is assigned. (The star ratings range from zero-stars to five-stars, with five-stars being the highest.) Banks and Credit Unions do not pay for this service, nor do they have the option of avoiding it. All banks and credit unions are rated, without prejudice.
Contact:
Meriwest Credit Union
Gregory Meyer
Community Relations Manager
408-365-6328
gmeyer@meriwest.com |
