Jun, 30, 2024 — MERIWEST CREDIT UNION is a federally insured state chartered credit union headquartered in SAN JOSE, CA with 11 branch locations and about $2.20 billion in total assets. Opened 64 years ago in 1961, MERIWEST CREDIT UNION has about 80,230 members and employs 223 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MERIWEST CREDIT UNION |
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Address: (Main Office) | 5615 Chesbro Ave SAN JOSE, CA 95123-3046 |
Phone: | (408) 972-5222 |
Fax: | (408) 363-3298 |
Website: | https://www.meriwest.com |
Branches: | 11 branch locations |
Members: | 80,230 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 68394 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1961 |
Last Audited: | Sep 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $2,199,223,873 |
CEO/Manager: | Julie Kirsch |
Chairperson: | Arthur Jue |
ASSETS: | $ Amount |
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Cash & Equivalents | 56,885,234 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 5,847,127 |
Real Estate Loans | 1,279,354,211 |
Unsecured Loans | 37,935,223 |
Other Loans | 419,243,619 |
TOTAL LOANS | 1,736,533,053 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -9,356,885 |
Land And Building | 3,900,898 |
Other Fixed Assets | 1,450,258 |
NCUSIF Deposit | 14,322,908 |
All Other Assets | 202,858 |
TOTAL ASSETS | 2,199,223,873 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 36,689 |
Notes & Interest Payable | 301,288,563 |
Accounts Payable & Other Liabilities | 22,934,477 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 68,146,164 |
Regular shares | 1,004,125,826 |
All Other Shares & Deposits | 665,053,986 |
TOTAL SHARES & DEPOSITS | 1,737,325,976 |
TOTAL LIABILITIES | 2,061,585,705 |
Regular Reserve | 0 |
Other Reserves | -19,877,817 |
Undivided Earnings | 157,515,985 |
TOTAL EQUITY | 137,638,168 |
TOTAL LIABILITIES, SHARES, & EQUITY | 2,199,223,873 |
INCOME & EXPENSE | |
Loan Income | 41,935,164 |
Investment Income | 4,452,282 |
Other Income | 3,382,663 |
Total Employee Compensation & Benefits | 26,191,214 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 12,070,136 |
Non-operating Income & (Expense) | 7,404,200 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,653,995 |
Cost of Funds | 8,277,081 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 6,231,895 |
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