The Background

Meriwest Credit Union, established in 1961 as IBM Credit Union, has a long-standing history of serving its members across several counties in the Bay Area and beyond. With a strong focus on community involvement, progressive values, and leveraging technology, Meriwest has grown to serve approximately 80,000 members. The credit union offers a wide range of products and services, including consumer loans, equity loans and commercial services.

Meriwest Credit Union has its roots as IBM Credit Union and has grown through mergers, including with Golden Bay Federal Credit Union. With around 240 employees, Meriwest is active in community events and charity work, embodying its core values of being a progressive, member-owned, and socially responsible financial organization.

Meriwest is dedicated to providing exceptional experiences through modern and secure solutions. They focus on leveraging technology, prioritizing community involvement, and ensuring both member and employee satisfaction. The “Meriwest Way” emphasizes internal and external member engagement, making the credit union a great place to work and bank.

Meriwest offers a full spectrum of financial products, including direct and indirect auto loans, home equity loans, personal loans, commercial vehicle loans, and solar loans. They use Symitar as their core system and MeridianLink for their consumer lending program.

Challenges with Previous Payment Provider

Before REPAY, Meriwest used another service provider for payment processing, which had limitations ike service downtimes and delays in payment posting. These issues often led to complications, especially at the end of the month when payments were crucial for credit reporting.

The Solution

REPAY stood out due to its real-time payment processing, 24/7 availability, and faster refund capabilities. The solution also promised to reduce the reliance on shared branches and provide greater flexibility for members, especially those with auto loans through indirect lending.

The implementation of REPAY took longer than usual due to concurrent IT projects at Meriwest. However, the focus was on thorough testing and preparing for contingencies. The transition was seamless, with strong support from REPAY’s team.

Realtime Payment Processing: Ensures payments are posted immediately, reducing credit reporting issues.

24/7 Availability: Members can make payments anytime, providing greater convenience and flexibility.

Improved Member Experience: The ability to make payments without visiting a branch aligns with the preferences of younger members.

Enhanced Refund Process: Faster and more efficient handling of refunds compared to the previous provider.

The Result

The implementation of REPAY has led to positive feedback from members who appreciate the flexibility and convenience of the new payment options. There has been a noticeable improvement in on-time payments and overall member satisfaction.

Meriwest is considering expanding its payment options and integrating more REPAY solutions to further enhance the member experience and operational efficiency.

REPAY continues to provide robust support, ensuring that Meriwest can leverage the full potential of the payment solutions and address any issues promptly.