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Overview
Meriwest Credit Union delivers value to any individual and small business in the Greater Bay Area and Tucson, Arizona that is looking for above market rates on deposits, low loan rates, lower fees, product options and an experience that makes you feel good about your decision to do business with us.
If the idea of free checking, free online banking with free Bill Pay*, mortgages with zero money down and home equity lines of credit that are always below prime appeals to you, make your move to Meriwest.
Plus, if you need a reference, just ask our members! More than one-third of our new members are referred from members who consistently rate us high in service and rate interaction with our employees as their greatest source of satisfaction.
Meriwest began as the IBM Credit Union over 40 years ago. But today, the same great benefits of credit union membership that were once only available to the employees and families of those employed at IBM, are now available to anyone who lives or works in the Greater Bay Area.
As the fifth largest credit union serving the Bay Area, Meriwest members enjoy the security of banking with an organization that?s established, financially sound and has a strong local heritage.
Because Meriwest is member-owned, our members have more money in their pocket to use as they see fit through:
- Above market rates on deposits
- Lower interest rates on loans
- And fees that are more than four times lower than banks the average bank receives as much as 40% of their income from fees while at Meriwest, income from fees is just 9%
Our zero down mortgage program allows first time home buyers to realize their first home today. And with full approval online in just minutes, home buyers enjoy the peace of mind of knowing exactly what they can afford and have been approved for, giving them a leg up in a competitive home buying market.
Meriwest's Crusaders Club youth savings account helps parents teach their children the discipline of saving money, the value of money and the satisfaction that comes from earning what they buy.
Meriwest's Business Banking brings a personalized banking experience to local small businesses through benefits that are scarcely offered such as:
- Truly free business checking
- Premier business checking accounts that pay interest to all businesses
- Personalized service from a dedicated business banking representative
Meriwest offers the convenience and comfort from banking at a place where members always receive a welcoming experience. Members enjoy banking at financial centers that feel more like banking in their own living room and feature:
- Complimentary Peet's coffee
- No teller lines
- Financial news
- Access to a cybercafé
- Children's workstation and play areas
Not close to a Meriwest Financial Center, no problem. Meriwest is networked with other credit unions so you can conduct your transactions at a location convenient to you.
By listening to our members, we can help them achieve their goals and provide advice that?s truly in their best interest. Our free, how-to seminars that save members time by providing all the information they need in one place and give them the confidence to make big financial decisions.
Meriwest appreciates our members and recognizes them by sending out birthday cards, holiday cards and by providing substantial year-round discounts on everything from movie tickets to golf, books and rental cars. We also appreciate our employees and read member satisfaction letters to them at each and every staff meeting.
All good reasons to break free from your bank and join the move to Meriwest.
Milestones
2004 – Meriwest introduced free checking with free online banking and bill pay, and a new Home Banking web site adding greater online banking conveniences and the ability to transfer funds to and from other institutions. Meriwest also prepared to launch Business Banking services to deliver a personalized banking experience to small business through dedicated business banking representatives and benefits that are scarcely offered by other financial institutions such as truly free business checking and premier business checking accounts that pay interest to all businesses. Meriwest also provided its members with substantial year-round discounts on everything from movie tickets to golf, books and rental cars.
2003 – Meriwest achieved its second consecutive year of record net income and became the second fastest growing credit in the San Francisco Bay Area in terms of membership growth. Meriwest opened two new financial centers in Dublin and San Mateo and merged with Oakland-based Franklin Media Credit Union expanding Meriwest’s field of membership to employees and family of media related companies in Marin, Napa, Solano, Sonoma, Monterey and Santa Cruz counties. Meriwest Mortgage became the credit union’s largest asset as the result of a substantial increase in first time home buying and refinancing.
2002 – Meriwest was the only financial services institution out of more than 15,000 small to mid-size financial institutions in the country to be recognized for Customer Relationship Management excellence by the Gartner Group, the world's most prestigious industry analyst firm.
2001 – Meriwest celebrated its 40th anniversary and surpassed $750 million in assets.
2000 – Meriwest received approval to add the counties of San Mateo, San Francisco and Contra Costa to its membership base. It opened two new financial centers in North San Jose and Milpitas.
1999 – Meriwest received approval to add Santa Clara and Alameda counties to its membership base and changed its name to Meriwest Credit Union.
1998 – Meriwest held an election to change its charter from Federal to State which would result in significant increases in its membership-base. Its members overwhelmingly approved. That same year, Meriwest surpassed $500 million in assets.
1997 – Meriwest acquired Community Savings FCU and its Milpitas and Palo Alto branches.
1982 – Meriwest’s customer service opportunities were greatly increased as the National Credit Union Administration approved expansion to Selected Employer Groups outside IBM. One year later, the Credit Union surpassed $100 million in total assets.
1980 – Meriwest merged with Sun States Credit Union and opened offices in Los Angeles and Tucson, Arizona.
1975 – Meriwest became the Pacific IBM Employees Federal Credit Union and added seven additional states to its membership base.
1961 – Meriwest Credit Union was officially chartered as the IBM San Jose Employees Federal Credit Union to primarily serve the employees of IBM and their relatives.
Strategy
Meriwest believes strongly in providing a unique, personal and convenient banking experience. Meriwest has plans to renovate existing branches to enhance the customer experience and the availability of innovative products and services. They also have plans to continue to expand its customer-base throughout the San Francisco Bay Area.
Customers
Meriwest provides personal, convenient and innovative financial services to businesses and families. A partial list of corporate members include Maxtor Corporation, NetManage, Lotus, Abbott Laboratories, IBM and Space Systems/Loral. |
