Overview
What is Meriwest Credit Union?
Meriwest Credit Union is a cooperative based in San Jose, California, with the primary goal of encouraging savings among its members. It operates as a financial institution, offering loans and providing opportunities for members to use and control their money. In 2022, the union granted 1,111 real estate base loans amounting to over $700 million. Meriwest Credit Union is a democratic organization, with its earnings, savings, and benefits distributed among its members. It fosters a source of credit for its members at interest rates set by its Board of Directors, working to improve their economic and social conditions.
Official website here: www.meriwest.com
What are the reviews and ratings of this charity?
Meriwest Credit Union is not currently rated by Charity Navigator due to its status as a Credit Union in California, which does not qualify it for evaluation under the standard criteria used for 501(c)(3) organizations. Historically, Charity Navigator ratings focused on Accountability and Finance, but the absence of a rating here neither confirms nor denies anything about the organization's operational health or impact.
The lack of rating highlights a limitation within the Charity Navigator system when it comes to evaluating non-501(c)(3) organizations like credit unions. This demonstrates the unique nature of Meriwest Credit Union as a financial cooperative, suggesting that other measures may be needed to assess its fiscal health and community impact.
There are no user reviews available from GreatNonprofits for Meriwest Credit Union. Without user feedback, it's challenging to gauge public sentiment or specific experiences related to the organization's performance or community engagement.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Meriwest Credit Union?
72% of 60 reviewers on Facebook recommend Meriwest Credit Union. Here is a summary of their reviews:
Many users express satisfaction with the professionalism and responsiveness of the loan officers at Meriwest Credit Union. One user, who is an insurance agent, specifically praised the team for their support and customer service, highlighting Bobby Shamlou for his attention to detail and the positive feedback from his clients. This indicates that there are elements of strong customer service and effective collaboration reported by users.
However, the overall recommendation rate suggests that while there are positive experiences shared, there may be varying opinions among other users. Overall, Meriwest Credit Union appears to deliver quality service that some clients appreciate, suggesting a mixed but generally favorable sentiment towards their offerings.
This AI summary has been generated from reviews found on Facebook.
Is Meriwest Credit Union legitimate?
Meriwest Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Meriwest Credit Union submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $5,805,705
Professional Fundraising Fees: $0
Other Salaries and Wages: $18,626,316
For more financial information, click here
Official website here: www.meriwest.com
What is the mission statement of Meriwest Credit Union?
Meriwest Credit Union is a member-owned cooperative with a mission to foster savings and thrift among its members. By promoting thrift, the credit union creates a collective source of credit, offering competitive interest rates set by its board of directors. Members have the opportunity to control and use their own money democratically, aiming to enhance their economic and social conditions. As a cooperative, Meriwest Credit Union operates with the goal of benefiting its members collectively, distributing earnings, savings, benefits, or services back to its patron members.
Official website here: www.meriwest.com
Who is the CEO of Meriwest Credit Union?
Julie Ann Kirsch Former is the CEO of Meriwest Credit Union The CEO's salary of Meriwest Credit Union is $419,630 and their total compensation is $441,552.
Official website here: www.meriwest.com
What is the revenue of Meriwest Credit Union?
Meriwest Credit Union's revenue in 2023 was $101,079,580.
Official website here: www.meriwest.com
Who are the executives of Meriwest Credit Union and what are their salaries?
The average compensation at Meriwest Credit Union during 2023 was $86,638. There are 282 employees and 14 volunteers at Meriwest Credit Union.
Here are 32 key members and their salaries (Meriwest Credit Union's CEO's salary is $419,630 and their total compensation is $441,552):
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- Compensation: $578,215
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- Other: $27,226
- Compensation: $419,630
- Related: $0
- Other: $21,922
- Compensation: $503,393
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- Other: $47,448
- Compensation: $642,600
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- Other: $10,011
- Compensation: $112,741
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- Other: $3,953
- Compensation: $319,516
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- Other: $45,631
- Compensation: $306,377
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- Other: $27,656
- Compensation: $278,154
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- Other: $29,706
- Compensation: $243,433
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- Other: $23,728
- Compensation: $238,549
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- Other: $20,913
- Compensation: $231,334
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- Other: $33,665
- Compensation: $212,894
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- Other: $43,345
- Compensation: $200,169
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- Other: $6,262
- Compensation: $187,068
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- Other: $26,619
- Compensation: $159,693
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- Other: $26,656
- Compensation: $300,078
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- Other: $21,237
- Compensation: $235,671
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- Other: $26,656
- Compensation: $231,618
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- Other: $27,956
- Compensation: $209,317
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- Other: $10,921
- Compensation: $195,255
- Related: $0
- Other: $28,156
Official website here: www.meriwest.com
Where can I find the form 990 for Meriwest Credit Union?
Meriwest Credit Union's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.meriwest.com
Learn more at the official website: www.meriwest.com
Mission Statement of Meriwest Credit Union
Meriwest Credit Union, a cooperative organization, is dedicated to encouraging savings and thrift among its members. By doing so, it creates a reliable source of credit, offering favorable interest rates set by the board of directors. This cooperative structure enables members to have a democratic control over their own funds, enhancing their economic and social conditions. The mission of Meriwest Credit Union extends beyond just financial services. It operates with the mutual benefit and general welfare of its members in mind, distributing earnings, savings, benefits, or services back to them as patronage. As a cooperative, Meriwest Credit Union operates for the sole purpose of improving the financial well-being of its members.
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Impact
October, 2024
Meriwest Credit Union plays a significant role in fostering financial well-being in the San Jose community and beyond. In 2022, the organization provided 1,111 real estate-based loans totaling over $700 million, directly empowering members to achieve their homeownership goals. By promoting thrift and savings among its members, Meriwest creates a sustainable source of credit, allowing individuals to access loans at favorable interest rates determined by a democratically elected board.
The cooperative model enables Meriwest to prioritize the interests of its members, ensuring that the benefits and services offered are tailored to their needs. This structure not only enhances the economic conditions of its members but also promotes a sense of community and shared prosperity. Through its commitment to improving the financial literacy and stability of its membership, Meriwest Credit Union contributes to the overall health and welfare of the broader San Jose community.
This information is meant to be a general summary of Meriwest Credit Union. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $13,592,856
- Program Service Revenue: $86,819,720
- Gross Receipts: $101,079,580
Assets and Liabilities:
- Total Assets: $2,248,988,827
- Total Liabilities: $2,106,796,535
- Net Assets: $142,192,292
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOANS
Revenue
$77,653,502
OTHER OPERATING INCOME
Revenue
$4,733,539
FEE INCOME
Revenue
$4,432,679
Organization Details
Founding Year
1961
Principal Officer
Julie Kirsch
Website
www.meriwest.comNTEE Category
Code: W610 - Public benefit
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