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Meriwest Credit Union now counted among Nation's 100 Largest Credit Unions - Meriwest is now 94th nationally in asset size

09/11/08

SAN JOSE, CA - Meriwest Credit Union, one of the largest credit unions serving Silicon Valley, the Greater Bay Area and Tucson, Arizona announced today that according to the Callahan and Associates Credit Union Report they are now ranked as the 94th largest credit union in the United States according to asset size. Callahan and Associates, a national credit union research and consulting firm, reported that the $299 billion in assets held by the Top 100 Credit Unions comprise 30% of all Credit Union assets.

"Even in the midst of extreme economic uncertainty, credit unions have continued to provide members with fair credit and competitive savings options," said Chip Filson, president and CEO of Callahan & Associates. "The top 100 are certainly the most visible contributors to this success, with performances that set a very positive pace for the entire industry."

Over the past year, the Top 100 credit unions had increased their memberships by 5.4%, deposits were up 9% and their lending activities were up 12.7%. The return on assets (ROA) was 66 basis points. Meriwest Credit Union, at $1.3 Billion in assets, was well ahead of these averages with share growth at over 13% and a 16% increase in loan balances.

"We are pleased to be recognized for our excellent growth this past year," said President and CEO Christopher Owen. "Our staff continues to excel in delivering outstanding service and our daily focus on improving the member experience at all touch points helps to differentiate Meriwest Credit Union from other financial institutions in the region."

About Meriwest Credit Union
Meriwest Credit Union, one of Silicon Valley's largest and established financial institutions, has been providing proactive, personal, convenient and innovative financial services to more than 91,000 businesses and families throughout the San Francisco Bay Area and Tucson, Arizona, for more than 47 years.

Contact:
Meriwest Credit Union
Gregory Meyer
Community Relations Manager
408-365-6328
gmeyer@meriwest.com
Media Contact
If you are a member of the Press and would like additional information or to request an interview, please contact our Corporate Communications Department at 408-365-6328 or corp_communications@meriwest.com.

For all non-media inquiries, please e-mail contact_center@meriwest.com or call: 877-MERIWEST (877-637-4937)
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Your savings federally insured to at least $250,000 through December 31, 2009, and backed by the full faith and credit of the United States Government by the National Credit Union Administration, a U.S. Government Agency. Certificate accounts with an original term of one year or greater are privately insured by American Share Insurance for up to an additional $100,000. We do business in accordance with the Federal Fair Housing Law and Equal Credit Opportunity Act. Copyright 2008 Meriwest. All rights reserved.