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Meriwest Credit Union

From Wikipedia, the free encyclopedia
Meriwest Credit Union
Company typeCredit Union
IndustryFinancial services
FoundedMay 5, 1961; 63 years ago (1961-05-05)
Headquarters,
Area served
Greater San Francisco Bay Area
Key people
Lisa Pesta, President/CEO
Brian Hennessey, CFO
Chad Maze, COO

Board of Directors
Arthur Jue, Chairman
Scott Timpe, Vice Chairman
Harsha Vyas, Treasurer
Rosario Monge, Secretary
Udey Chaudhry, Director
Edwin Mach, Director
Steve Goveia, Director
Stan Chapman, Director
Jim Hicks, Director

Supervisory Committee
Phil Fluegemann, Chairman
Taylor Lee, Secretary
Jason Laker, Member
SubsidiariesMeriwest Mortgage, MW Wealth Advisors
Websitewww.meriwest.com

Meriwest Credit Union is an American member owned, not-for-profit credit union located in San Jose, California. The credit union offers financial services to communities in the Greater San Francisco Bay Area.

As of 2023, Meriwest Credit Union had over 80,000 members and $2.2 billion in total assets.[1]

History

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The credit union began on May 5, 1961, when a group of IBM employees organized the IBM San Jose Employees Federal Credit Union.[2] In 1975 the official name changed to Pacific IBM Employees Federal Credit Union. In 1999, the Credit Union converted to state charter and changed its name to Meriwest Credit Union.[3] In 2007, Meriwest merged with Golden Bay Federal Credit Union.[4]

Community relationship

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Meriwest Credit Union has a long history of providing support to its local communities by partnering with local charities and non-profit organizations, as well as providing free educational resources.

In 2022, the Credit Union National Association (CUNA) awarded Meriwest the 2022 National Desjardins Adult Financial Education Award for its workshops & programs to promote financial literacy.[5]

Membership requirements

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At least one of these options listed below will apply:

  • Live, work, or attend school in select counties within the Greater San Francisco Bay Area of Northern California, or Tucson, Arizona.
  • Employee of a participating Meriwest Credit Union member company.
  • Relative of or reside with a current member of Meriwest Credit Union.

Regulation

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Meriwest Credit Union is chartered under the authority of the California Department of Financial Protection and Innovation (DFPI).[6] Members' deposits are federally insured up to $250,000 by the National Credit Union Administration (NCUA), an agency of the U.S. federal government.

References

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  1. ^ "Credit Union Locator & Research a Credit Union | NCUA". mapping.ncua.gov. Retrieved 2023-12-04.
  2. ^ "Our Story: Milestones". Meriwest Credit Union. Retrieved 4 December 2023.
  3. ^ California Department of Financial Institutions (1999). "1999 Annual Report: Bridging Into the Future". State of California.
  4. ^ California Department of Financial Institutions (2007). "2007 Annual Report" (PDF). State of California.
  5. ^ Ogden, Michael (2022). "Meriwest CU Wins Financial Education Award". Credit Union Times. Retrieved 2023-12-04.
  6. ^ "State-Chartered Credit Unions: Meriwest Credit Union". Department of Financial Protection and Innovation.
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