# MERIWEST
SAN JOSE, CA · NCUA charter 68394 · asset band $1-10B · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/meriwest-68394

Who the members are: state charter, organized 1961. 76,513 members of 2,500,000 potential (3.1% of the field); checking penetration 63% (share draft accounts per 100 members); loans per 100 members 27.

**Verdict on the desk:** this could be *ordinary*. Composite score 4 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $2.16B |
| Members | 76,513 (-3.9% YoY) |
| Full-time staff | 221 |
| Net worth | $191.6M |
| Net worth ratio | 8.9% (p11 of band) |
| ROA (annualized) | 0.03% (p4 of band) |
| Total delinquency | 1.02% (p81 of band) |
| Net charge-offs (annualized) | 0.72% (p69 of band) |
| Loans / shares | 90% (p60 of band) |
| Cash / assets | 5.0% |
| Borrowings / assets | 9.94% |
| Net interest margin | 2.56% (p11 of band) |
| Operating expense / assets | 2.63% (p21 of band) |
| Vehicles % of loans | 9% (p9 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 83% |
| Third-party paper % of net worth | 98% (p39 of band) |
| Vehicle delinquency | 0.68% (p58 of band) |
| Vehicle NCO | 1.68% (p79 of band) |
| Repossessed % of vehicle book | 0.25% (p88 of band) |
| Real estate % of loans | 67% |
| Credit cards % of loans | 0% |
| Unsecured % of loans | 2% |
| Commercial % of net worth | 134% |
| Core shares % of member funds | 52% |
| Certificates % of member funds | 32% |
| Average share balance | $16,092 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | $177.7M |
| Loans outstanding per 100 members | 27% |
| Loans granted per 100 members, annualized | 4% |
| Average loan balance | $76,826 |
| Loans granted, annualized | $301.4M |

## Participation posture (from the same filings)

Bought $0 and sold $0 in the latest annualized quarter; $177.7M outstanding purchased (92.7% of net worth), $16.1M sold and retained. Sold in 6 and bought in 2 of the last 8 quarters. Shares 3.9% year over year.

## Flags firing in the latest filing

- **thin capital** (`cap_low`)
- **net worth falling** (`cap_falling`)
- **members leaving** (`shrink_members`)
- **leaning on borrowings** (`str_borrowings`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 3 | thin capital, leaning on borrowings, 3rd-party paper>100% NW |  |
| 2016-06 | 3 |  |  |
| 2016-09 | 4 | net worth falling |  |
| 2016-12 | 3 |  | net worth falling |
| 2017-03 | 3 |  |  |
| 2017-06 | 3 |  |  |
| 2017-09 | 4 | loans>95% of shares |  |
| 2017-12 | 4 |  |  |
| 2018-03 | 4 |  |  |
| 2018-06 | 4 |  |  |
| 2018-09 | 4 |  |  |
| 2018-12 | 4 |  |  |
| 2019-03 | 4 |  |  |
| 2019-06 | 3 |  | thin capital |
| 2019-09 | 3 |  |  |
| 2019-12 | 3 |  |  |
| 2020-03 | 3 | thin capital | loans>95% of shares |
| 2020-06 | 5 | net worth falling, margin squeeze |  |
| 2020-09 | 4 | loans>95% of shares | net worth falling, margin squeeze |
| 2020-12 | 3 |  | loans>95% of shares |
| 2021-03 | 3 |  |  |
| 2021-06 | 3 |  |  |
| 2021-09 | 5 | delinquency 2x band, delinquency rising |  |
| 2021-12 | 5 | net worth falling | delinquency 2x band |
| 2022-03 | 3 |  | delinquency rising, net worth falling |
| 2022-06 | 7 | delinquency 2x band, delinquency rising, members leaving, loans>95% of shares |  |
| 2022-09 | 6 | net worth falling | delinquency 2x band, delinquency rising |
| 2022-12 | 6 |  |  |
| 2023-03 | 7 | delinquency 2x band, delinquency rising | net worth falling |
| 2023-06 | 6 |  | members leaving |
| 2023-09 | 4 |  | delinquency 2x band, delinquency rising |
| 2023-12 | 4 |  |  |
| 2024-03 | 5 | assets shrinking |  |
| 2024-06 | 5 |  |  |
| 2024-09 | 7 | delinquency 2x band, delinquency rising, repo signal | thin capital |
| 2024-12 | 5 |  | delinquency 2x band, repo signal |
| 2025-03 | 6 | repo signal |  |
| 2025-06 | 4 |  | delinquency rising, repo signal |
| 2025-09 | 3 |  | assets shrinking |
| 2025-12 | 6 | thin capital, net worth falling, losing money, delinquency rising | loans>95% of shares |
| 2026-03 | 4 | members leaving | 3rd-party paper>100% NW, losing money, delinquency rising |

## In the news (Google News, unfiltered, newest first; check the city)

- 2026-01-21 [Local roots, lasting impact - Morgan Hill Times](https://news.google.com/rss/articles/CBMiZkFVX3lxTE9aTmFtODItakk3bnR0dFhYMFhRWTI0dzNEbDhhRFpHbFZ3MHVlTWNBQUdNSlZTSVJ3dFptYXZPT2ItOEc2eUFMM2o5ejB5V1Q5ZzVEWEZRX2lXcnN0ODlMVmgzRWNVZw?oc=5) · Morgan Hill Times
- 2026-02-12 [Meriwest San Jose HQ site will feature branch, food, beverages - The Mercury News](https://news.google.com/rss/articles/CBMiqwFBVV95cUxPYUNKWDdtSm1TVnA5UDgzT1pTYUhKeUlEbmdvcGF5bWhuamdvZElta3NSSXBGakdSLWVrVHpEZlpKUjd1eWFmdVd5Q1F6ODVCNl9DQWF0Wms3ZmhGM0F0enVWYXQ1UWkwN1ZJSE5mSXNRRTBqdW9YZVA1b1dGcXhlRWNaR0RvcHZRMGRINEJLWDAwVFB1R1piWEdYWkRySVNVRUpaeGtsTDJLeFXSAbABQVVfeXFMUEE0OVRzNmQ2RTJpQXZBbXF3aVRMSm5ETmNPVmF3OTRDbk8tejE0MmtHcUUyc1c3b25hNkFFYm1iRmRsZHBSRjRNX3VJRjAtdmg4bHRjVGJSZDVFWDJkWFk2VVRUMkdETXBHRkFPbTA2VmFVQlZkSEk4WUpqTEdTMTlFdlY2S1pXemFEMGkwODdzTk5NOHR3b1BRbzFPVUxkTmhIMzB5WHJ2N1VCY1lrZkM?oc=5) · The Mercury News
- 2025-05-30 [Meriwest Credit Union shines in Silicon Valley Business Journal’s Table of Experts - CUInsight](https://news.google.com/rss/articles/CBMivwFBVV95cUxQUzFRYUdTZ2pXeG56M25RbTZLM2w1TzNMYXFyNWJ5WmNaX1dQR1lnY1RjMTlWOVVNandhNG1UMW9HRENQdGtTNDh1Q19YSUVPNGRrbGcxN2UxZzl0NzJNUjN3VVZ3Y1pOYXNwaUxjVFUtNkMxY0JBckVWWnp2bWlyMmNWSWxjQ0pFbDhkTXVhSEpyYUtWems0Qm1EczZjaUJBSU9oSjRVRzhxdkUwbkEwYkdVM283dHFjSmJ2dDRNdw?oc=5) · CUInsight
- 2025-05-30 [Meriwest Credit Union: Community Champion - The Business Journals](https://news.google.com/rss/articles/CBMingFBVV95cUxOMGFuNmtjNl9JTGF3UHRHcUJzeWhaNWxDNGdhdU1rdVVlTDkwbEt1dTN3dTM1ZUlMdjZoRXpxYzNtNmVKbjhTZ3BQRUQyOHBROEFjR2hIR0dSdHYtTzJJV09FRDhsbHU1VVJXaGxtT0xjU1lEVXRybTBlUXlWRi1VQUdTQ1hoZWNKc203ek1zZVhYZC1VempaT3hKUUtNdw?oc=5) · The Business Journals
- 2025-07-24 [Meriwest Credit Union Launches Zelle® for Fast, Secure, and Convenient Money Transfers - Yahoo Finance](https://news.google.com/rss/articles/CBMiigFBVV95cUxQX2MwcXJnYm15WVZUdFprVTUtOXpxYk5Vdk1FNEdGVWQxSTJRclJJNUlMRC02YlVZSFRtNHpjZFBINm1IR09uYWE5VHkxMXZuaE9UZVl4R1FBYUhQd1dWbFp5MGZwTTY0M1NYdUFHNUU3bXQzcEthMDlyN1BfcWgtMVRpa0lOdWRIQUE?oc=5) · Yahoo Finance
- 2023-02-15 [Meriwest Credit Union promotes chief operating officer to CEO - americanbanker.com](https://news.google.com/rss/articles/CBMirwFBVV95cUxPaGU1Z0dRckYwanFCR3JwOVN0c2J5QzloT2J5dV9ROVcyRVphRTh4clQ2VWZjUndKd1dfWHZoeXRhakFfalQzXzNSb3Bvb2o2dGpsUVVKQjd6b2pzdHlCazZ1REs5NHFLeURhQkhTNWVFY3NVMURYci10TkIxaFptY0gzXzN2aEFfOG5ZcVJJRlZialEyczlOX0EycnVvNDJRS3pTU01yQ2J2UlVQY0xB?oc=5) · americanbanker.com
- 2024-03-28 [Meriwest Credit Union Becomes Official Credit Union Partner of Bay FC - GlobeNewswire](https://news.google.com/rss/articles/CBMi2AFBVV95cUxOWS1mTGFSY1RCUlozTUR6OWIzM1B0MkZpbkxVT1JtUWNIYU5JVlJ6RUxJcnd0TV9reEFuV3B2UU9LSk5KcVR4bTB3UWtIWWE0OVBndHZhMEVyU3RUanNvQjVMd1FfSmZjMXg4b3NCNzh2UWZEc1RabkVXbjJZX1AtVW0tTVlYY2dyVnZ6V3lnNy1mdWhQLXdRLThxeVNWX2NxanB3ZFAwQnNMZVVYTk1TQnh1c2F1WEMwZWh6SlR2aUhGaDFna0F1WTlhTmo2cHFJRG5laVV1bWc?oc=5) · GlobeNewswire
- 2023-02-21 [Meriwest Credit Union Announces Lisa Pesta as New CEO - GlobeNewswire](https://news.google.com/rss/articles/CBMiwwFBVV95cUxNUEdFQzFjQS1Ea1FFZWlBYk5ZaGc3cHg2YlNJOHBNNkh6eF9rU3poQkhGWjctdEVKVU8tTTB4YWlSWGlLMW9UNE43OWlNc2hOazIwWXprMlh2MlhpdHotYldqaEwtUF9pandJcVVRaHRRQjBSMU4zQ01pTjBIVGdDNjZBcHpXNHJVUnNiLVFKX1FZNHJ4SXJsdnowSElKWWpjTUZhZnVfeWJHQUl4OWNJSnBhd29DVUZ3c1UtODJIbmw2enM?oc=5) · GlobeNewswire

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=68394 (every cell opens its formula and NCUA account codes; the News tab is the same search)
- Latest row, JSON: https://getbookiq.com/cu-intel/data/summary.json · history: https://getbookiq.com/cu-intel/data/h/42.json (key "68394", columns cycle, assets, loans, shares, networth, nwr, roa, total_dq_pct, total_nco_pct, vehicle, veh_pct_loans, indirect, ind_pct_veh, ind_veh, ind_re, ind_comm, ind_other, ind_pct_loans, loans_n, granted_n_ytd, granted_ann, loan_pen, granted_pen, avg_loan_bal, loans_per_fte, veh_part, tp_pct_nw, veh_dq_pct, veh_nco_pct, repo_pct_veh, members_yoy, ltos, cash_pct, borrow_pct, nim_pct, opex_pct, risk_score, members, fte, cash_total, invest_sec, allowance_eff, int_income_ytd, int_exp_ytd, provision_eff_ytd, nonint_income_ytd, nonint_exp_ytd, net_income_ytd, n_flags, re_pct_loans, cc_pct_loans, comm_pct_loans, cert_pct_shares, core_pct_shares, part_buy_ann, part_sell_ann, pot_members, sh_draft_n, chk_pen, fom_pen, flags)
- Participation history: https://getbookiq.com/participation-desk/#cu=68394
- Field definitions: https://getbookiq.com/dictionary/#cu-ltos and the rest of the credit union dictionary
- Source: NCUA 5300 call report bulk files. Income fields are annualized by cycle month (Mar x4, Jun x2, Sep x4/3, Dec x1). Percentiles are within the asset band in the same quarter.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide