Meritus Credit Union was founded in 1954 by eight Lafayette Parish school system employees to help their fellow educators learn to save and build their financial strength. Members needed an ability to acquire small dollar loans, to strengthen their credit worthiness and to establish savings goals and thus sought out their employee-based credit union. Sixty-five years later, Meritus has grown to serve individuals and families that live, work, worship or attend school in five parishes: Acadia, Iberia, Lafayette, St. Martin and Vermilion.
2. What would you tell the rest of Acadiana makes you special?
Meritus Credit Union is a not-for-profit financial institution, federally insured by the National Credit Union Administration, with an emphasis on financial inclusion and community development. We were founded to ensure that our members would have a place to turn to build savings and achieve their financial goals. We continue to do that sixty-five years later. We are governed by a volunteer board of directors and our members are rewarded with the profits we earn through low rates and fees. Our members benefit through the relationship that they form with our expert member service providers, advising them on how to take charge of their financial health without exploitation, shame or judgement. We provide Smart Financial Solutions.
3. What are you most proud of?
By providing consistent service to our members and especially those in our founding educational community, we have grown steadily over the years. We are committed to our members with smart financial solutions. Our staff and leadership are highly engaged in the success of our members. We are local, making local decisions and ensuring that we are there in good and challenging times. In the most recent history, we were able to assist our members that were impacted with the floods of 2016 with specialized products that fit their needs. During the recent federal government shutdown, we had local members impacted and again we were able to provide assistance to relieve some of the financial stress that these members were experiencing.
4. Where do you see your business in 10 years? What are your plans for the future?
By 2030 we will continue to provide high quality products with personal services, benefiting the members that choose Meritus Credit Union to achieve their financial goals.
5. 1A is “Focused on Forward” – meaning we are taking an active role of improving the community we live in. Our members are Focused on Forward, too! - What does Focused on Forward mean to you? How is your company Focused on Forward?
We are committed to our members and believe in investing in the communities where our members are. We invest through teacher grants, school system project sponsorships and giveaways to our educational community members. We also provide sponsorships for community efforts by partnering with local non-profits, such as United Way, Habitat for Humanity and Lafayette Education Foundation. We are a Community Development Credit Union, certified by the US Community Development Fund, strengthening our ability to provide financial education, counseling and quality services.