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Meritus Credit Union

Overview
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Meritus Credit Union is a federal credit union based in Lafayette, Louisiana. It has been opened since 1954, for 66 years.

With around $201,760,000 in assets, Meritus Credit Union is considered to be a very large credit union. It has 5 branches and 4 ATM locations.

About
Address 515 Guilbeau Road
Lafayette, Louisiana 70506
Website http://www.merituscu.net
Phone (337) 989-2800
Fax (337) 989-2816
CEO Connie S. Roy
President of the Board Kenneth Villemarette
Services Offered
Map
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Score Card
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66 years
Years in business
Opened in 1954
Well Capitalized
Net worth classification
Source: NCUA
21,909 members
Membership type: Community credit union
Above average number of members
359:1
Credit union member to staff ratio
359 per each FTE employee
Compared to 411:1 nationally
Average number of staff
$201,763,778
Total assets
Above average
5 branches
Compared with an average of 4 nationally and 2 in Louisiana
Above average number of branches
0.10%
Savings interest rate
Compared to 0.3% nationally
8.91%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches
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5 branches
Compared with an average of 4 nationally and 2 in Louisiana
Above average number of branches
Meritus Credit Union Branch Locations
Members
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21,909 members
Membership type: Community credit union
Above average number of members

With 21,909 members, the Meritus Credit Union is considered to be a very large credit union. It is among the largest of credit unions and is larger than 83% of credit unions.

Fees
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$115
Average fee per member
The average fee per member at the Meritus Credit Union is $115, which is very high compared to most credit unions. This rate is higher than 90% of all credit unions.
Fees are higher than average

Credit unions, like banks, charge members various fees, such as overdraft fees, ATM fees, credit card fees, inactivity or dormat account fees, and more.

The average fee per member gives you a general sense of how much you might pay in fees as a member of the Meritus Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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359:1
Credit union member to staff ratio
359 per each FTE employee
Compared to 411:1 nationally
Average number of staff
61 staff members
FTE (full-time equivalent)
6% of employees are part-time
59 full-time, 4 part-time

Meritus Credit Union has 59 full-time staff members and 4 part-time staff members. The staff is predominantly comprised of full-time staff, at approximately 94% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. Meritus Credit Union has around 359 members per staff, an average ratio compared to other credit unions. This is a somewhat well staffed credit union.

Assets
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$201,763,778
Total assets
Above average
Net worth
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Well Capitalized
Net worth classification
Source: NCUA
A well capitalized credit union has a net worth ratio of 7% or greater and also meets applicable risk-based net worth requirements, according to the National Credit Union Administration.
12.5%
Net worth ratio
A higher net worth ratio is better.
Compared to an average of 13.6% nationally

A credit union's net worth ratio is one of the most important metrics you should consider when deciding whether to join a credit union. Why? It's a measure of financial strength

The net worth ratio is equal to a credit union's net worth divided by its assets. According to the National Credit Union Administration, a minimum net worth ratio of 7% is required to be considered to be a well capitalized credit union.

Loans & leases
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$14,071
Average loan and lease size
Loan & lease sizes are bigger than average. They are bigger than at 76% of credit unions.

Meritus Credit Union holds a total of $139,250,000 in loans and leases, which is about $14,071 per member on average.

Savings interest rate
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0.10%
Savings interest rate
Compared to 0.3% nationally

A credit union share account is an account at a credit union. It's called a share account because the credit union is member owned and as a result, members own shares in the credit union.

A share savings account pays you interest on your savings, similar to a savings account at a bank. The interest you receive can vary. Meritus Credit Union pays 0.10%.

Loan rates
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8.91%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
12.07%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
4.59%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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3.81%
New car loan rate
Compared to 4.0% nationally
4.56%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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5.01%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
4.29%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally
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Assets
Net Worth Classification
Well Capitalized
Average Fee
Credit Card Loan Interest Rate
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