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MERIWEST CREDIT UNION

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.


ABA Routing Number: 321176833
Name:MERIWEST CREDIT UNION
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
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

Call Report

  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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