Meriwest Credit Union (mer-eh-west) headquartered in San Jose, California, is a not-for-profit, community-based credit union founded in 1961 to provide financial services to IBM employees. Meriwest has since expanded its membership scope and now offers a suite of financial services for businesses and consumers that live, work, worship or go to school in five Greater San Francisco Bay Area Counties: Santa Clara, Alameda, San Francisco, Contra Costa, San Mateo; and Pima County, Arizona. Additionally, members of the Financial Fitness Association (FFA) may also gain membership to Meriwest Credit Union.[1]
As of December 31, 2024, Meriwest serves nearly 80,000 members and has assets of $2.1B
Meriwest remains federally insured by the National Credit Union Administration (NCUA) and is chartered under the authority of the California Department of Financial Protection and Innovation (DFPI) which regulates state-chartered credit unions in California.[2]
History
Meriwest Credit Union was established on May 5, 1961, as the IBM San Jose Employees Federal Credit Union.[3] The first branch was housed in an 8 x 10 room and had one part time employee. In 1975, the official name changed to Pacific IBM Employees Federal Credit Union.[4]
In 1999, the Credit Union converted to state charter and changed its name to Meriwest Credit Union. In 2007, Meriwest merged with Golden Bay Federal Credit Union.[5]
In 2025, Meriwest Credit Union became the first official Credit Union Partner of the Bay Area’s first National Women’s Soccer League (NWSL) franchise, Bay FC.[6]
Name
The origin of the name Meriwest is derived from the combination of the words merit and west. Conveying the meaning of respect and praise, a commendable quality or act, combined with the adventurous and entrepreneurial spirit of the west.[7]
Mission
Meriwest Credit Union has an established Mission Statement:
“At Meriwest Credit Union, our mission is to offer exceptional quality financial services delivered by a team of experts, while staying engaged in our local communities and providing assistance to our underserved neighbors.”[8]
Community
Meriwest Credit Union has a long history of providing support to its local communities by partnering with local charities and nonprofit organizations, as well as providing free financial education resources.[9]
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.[10]
Awards and Recognition
Meriwest Credit Union has been awarded one of Silicon Valley’s “Best Places to Work” by the Silicon Valley Business Journal for 5 consecutive years – 2020 to 2025.[11]
In 2024, Meriwest received a Reader’s Choice Award as “Best Credit Union in Silicon Valley” by the San Jose Mercury News.[12]
Products and Services
Meriwest Credit Union provides financial products and services tailored to meet the needs of individuals, families, and small businesses in the Greater San Francisco Bay Area and Pima County, Arizona.[13]
Personal Banking
Meriwest Credit Union offers a variety of personal banking products, including checking, and savings, certificates and money market accounts backed by the NCUA. Many of their products are designed to provide flexibility and value with no or low fees. The Premier Savings account for new members offers competitive yields typically reserved for high-balance, long-term accounts.[14] The SMART Start account, aimed at younger members, helps parents teach children financial literacy through hands-on money management tools.[15]
Lending and Lines of Credit
Meriwest provides a range of lending options, including auto loans, personal loans, home equity lines of credit (HELOC), and credit cards with competitive rates and flexible terms.[16] The MyLine program, is a personal line of credit linked to a Meriwest checking account, designed to cover overdrafts and extra expenses without incurring traditional overdraft fees.[17] Auto loans are noted for their low rates and pre-approval options, enhancing the car-buying experience.[18]
Meriwest Mortgage
Meriwest offers competitive mortgage products, including fixed-rate and adjustable-rate mortgages, VA loans, and specialized programs like a unique 5% down payment option with no private mortgage insurance (PMI) in partnership with HEART of San Mateo County. Temporary buydowns are available for fixed-rate VA loans, allowing reduced payments for up to three years. Members can manage their mortgage accounts through Meriwest’s online banking platform, which provides 24/7 access for payments, balance checks, and rate tracking. Meriwest Mortgage is licensed in California and Arizona, ensuring compliance with state regulations.[19]
Meriwest Wealth Advisors
Meriwest Wealth Advisors provides personalized financial planning and investment services, focusing on retirement planning, wealth management, and insurance solutions. The service offers a full range of investment options, including stocks, bonds, mutual funds, private placements, annuities, and long-term care policies. Financial brokerage services are accessible online 24/7 through a secure platform, and advisory services are provided through Cetera Investment Services LLC, a FINRA/SIPC member.[20]
Digital Banking and AI Chatbot
Meriwest Credit Union provides online and mobile banking services through a platform launched in February 2023, developed with NCR Corporation. It offers account management, fund transfers, bill payments, and financial tools, including person-to-person payments and a money management feature for tracking spending and budgeting. Their AI chatbot, Scout, provides real-time assistance for account inquiries, transaction statuses, and financial services, accessible via the platform.[21]
Business Services
Meriwest Credit Union offers business banking services for small and medium-sized businesses in the Greater San Francisco Bay Area and Pima County, Arizona. Services include deposit accounts, loans, merchant services, and digital banking tools, with competitive rates and personalized support.[22]
Business Checking and Savings
Meriwest’s business deposit accounts include Free Business Checking with no monthly fees and up to 250 free transactions per month ($0.25 per additional transaction). Premier Business Interest Checking offers tiered interest rates and up to 500 free transactions. Business Money Market accounts provide competitive yields with flexible access, while Business Savings requires a low minimum balance.
Business Lending
Meriwest offers Commercial Real Estate Loans for purchasing, refinancing, or renovating properties, with flexible terms. Business Lines of Credit, Term Loans, and the Business ValueChoice Line of Credit support equipment purchases, working capital, or expansion, subject to credit approval, with rates reflecting the credit union’s not-for-profit structure.[23]
Rewards
Meriwest’s Merit Rewards program is designed to encourage members to deepen their financial relationship with the credit union by offering tiered benefits based on the number of qualifying products held and average daily account balances. Automatically enrolled upon joining Meriwest, members can advance through reward levels, Merit Plus, Gold, and Platinum, by meeting specific criteria, which unlock enhanced financial perks such as higher dividend rates, loan discounts, and fee waivers.[24]
Security and Member Protection
Meriwest prioritizes member security, offering tools like travel notifications and card controls. Meriwest’s 24/7 automated telephone banking system (AAIS) allows members to check account balances, transfer funds, and manage transactions securely from any location.[25]
Meriwest provides security features, including travel notifications and card controls via its mobile app. It advises members to verify transactions through online banking and avoid sharing sensitive information. The 24/7 automated telephone banking system enables secure account management.[26]
Recent Developments
In May 2025, Meriwest acquired a former Marie Callender’s site in San Jose to develop a new Meriwest Campus. The facility will integrate administrative and member-facing operations, offering personal banking, business banking, wealth advisory, and mortgage services for its over 80,000 members.[27]
Deposit Coverage
Members' deposits are federally insured up to $250,000 by the National Credit Union Administration (NCUA), an agency of the U.S. federal government.
Meriwest also provides an option for additional deposit insurance through a partnership with American Share Insurance (ASI).
Membership requirements
At least one of these options listed below will apply:
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