annual report
annual report
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Annual Report

2017 Annual Report

President & CEO's Message

"With all that is going on around us, the art of finding balance continues to be a challenge. Roads are congested, housing inventory is scarce, work hours are longer, and finding time to be with our friends and family becomes ever more difficult. Our goal at Meriwest is to contribute to your overall financial health by providing a balance that results in a satisfying and stress-free member experience. Along with our full range of products and services, competitive rates and lower fees, we are committed to providing the level of financial guidance you need to get you to your goals.

Meriwest also promotes balance within our organization. We encourage our employees toward a healthy lifestyle by providing free biometric screenings, health fairs and healthy snacks and lunches for purchase. We support them in giving back to our communities and appreciate that they put their ingenuity, compassion and energy into those efforts. Last year, 100 percent of our staff participated, contributing more than 1,000 hours to various causes through fundraisers and personal giving in support of everything from the YMCA and American Heart Association to helping victims of the tragic Napa and Sonoma County fires. This Thanksgiving, the staff touched the hearts of needy families by buying more than 3,000 pounds of turkeys and donating them to the Second Harvest Food Bank.

The management team has done an outstanding job aligning the many parts of Meriwest into a perfect balance as demonstrated in our Treasurer’s Report and the associated Consolidated Statement of Financial Condition. The Credit Union ended the year with nearly $1.5 billion in assets, a 10.6 percent growth over the prior year. Loan growth was again outstanding at 15 percent over 2016 as more members took advantage of our many attractive lending products. Net Income was $11 million, demonstrating that we effectively balanced asset growth with a healthy increase in capital. Every member of our board and staff understands the importance of staying financially healthy and relevant for our members. We are proud to have achieved these goals again in 2017.

Whether it’s face to face, over the phone or online, Meriwest is committed to maintaining that balance that helps us stay in alignment with you and your dreams and goals. We sincerely appreciate your continued confidence in us."

Julie Kirsch, President/CEO

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