Meritus Credit Union

What Meritus Credit Union does

Meritus Federal Credit Union is a federally chartered, NCUA-insured cooperative financial institution headquartered at 515 Guilbeau Road in Lafayette, Louisiana, serving more than 22,000 members across five Acadiana parishes (Acadia, Iberia, Lafayette, St. Martin, and Vermilion) through four branch locations and digital channels. Founded on July 18, 1954 as Lafayette Parish Teachers Federal Credit Union with $60 in initial capital, the institution converted to a community charter and rebranded to Meritus Credit Union in 2018, crossing $200 million in assets at that milestone; the 72nd Annual Meeting was held March 25, 2026. The member base consists of individual retail consumers and families, with historical concentration in the Acadiana education community now broadened under the community charter.

The product stack spans deposit accounts (Kasasa Cash, Kasasa Cash Back, Kasasa Tunes, Momentum, Value, Share Savings, Money Market, HSA, IRAs, Share Certificates), consumer and real-estate lending (auto, RV, personal/signature and share-secured, Visa credit cards, mortgages, HELOC, construction, land), insurance (TruStage AD&D, auto and home, credit life and disability), and Sallie Mae-referred private student loans. Digital banking is delivered through Fiserv-powered iOS and Android apps plus a browser-based platform at app.merituscu.net, with Zelle P2P, Apple Pay / Google Pay / Samsung Pay tokenization, mobile deposit up to $5,000/day, in-app card controls, and credit score monitoring. Account opening is also available online via MeridianLink.

Meritus earns revenue primarily through net interest income on the loan portfolio (auto APRs from 4.99%, personal up to 11.00%, share-secured from 2.01%), the spread against dividend rates on deposits (Kasasa Cash up to 5.00% APY, share certificates 2.00%–3.50% APY, money market up to 0.56% APY), and a secondary stream of service fees (overdraft courtesy pay $28, stop payment $28, wire transfers $10 domestic / $30 international, dormant account $10/month) plus referral economics from Sallie Mae and TruStage. Distribution is four-branch physical plus omnichannel self-serve digital, with community marketing anchored by the Official Credit Union of the Louisiana Ragin' Cajuns sponsorship, Class Cash teacher grants, scholarships, and the Young Ragin' Cajuns Club.

Name

Meritus Credit Union

Legal name

Meritus Federal Credit Union

Website

https://merituscu.net

Company type

Private

Founded year

1954

Operating status

Operating

Headcount range

11–50 employees

Short description

Meritus Federal Credit Union is a federally chartered, NCUA-insured community credit union headquartered in Lafayette, Louisiana, serving 22,000+ individual retail members across five Acadiana parishes via four branches and Fiserv-powered digital banking. It offers deposit, lending, insurance, and Sallie Mae-referred student loan products with a community-led growth model anchored in local sponsorships.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

Keywords

• Retail banking services
• Consumer lending products
• Savings and checking accounts
• Community credit union
• Mortgage and auto loans

Headquarters

HQ city

Lafayette

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Interest Income from Loans: Primary revenue source from interest charged on auto loans, personal loans, mortgages, HELOCs, and credit cards. Rates vary by product type and creditworthiness, with APRs ranging from 2.01% (share-secured loans) to 11.00% (signature unsecured loans).
2. Fee Income: Various service fees including excessive withdrawal fees ($2.00), returned draft fees ($28.00), stop payment fees ($28.00), overdraft transfer fees ($1.00), wire transfer fees ($10 domestic, $30 international), and dormant account fees ($10/month).
3. Dividend/Earnings on Deposits: Interest paid to members on savings and checking account balances, funded by the spread between loan interest income and deposit dividend rates. Rates range from 0.01% APY on basic savings to 5.00% APY on Kasasa Cash checking (balances up to $15,000).

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Meritus Credit Union is a federally chartered, member-owned credit union that provides retail banking products and consumer lending services to individuals in the Acadiana region of Louisiana. It offers checking accounts, savings accounts, share certificates, IRAs, mortgages, home equity loans, auto loans, personal loans, credit cards, and student loans, supported by digital banking infrastructure including a mobile app, online banking, mobile deposit, Zelle, and digital wallet support.

Product overview

Meritus Credit Union offers a comprehensive suite of financial products and services structured as a traditional credit union with core banking, lending, digital banking, and community programs. Core products include multiple checking account options (Kasasa Cash, Kasasa Cash Back, Kasasa Tunes, Value Checking, Momentum Checking), savings accounts (Kasasa Saver, Share Savings, Money Market, HSA, CDs, IRAs), and diverse lending products (mortgage, HELOC, construction, auto, personal, credit cards, RV loans, student loans, and teacher certification loans). Digital banking features include a mobile app, online banking, mobile deposit, Zelle payments, and digital wallet support. Community engagement encompasses scholarships, classroom grants, youth programs, and sponsorship partnerships. The organization also offers TruStage insurance products and credit life/disability insurance. The product architecture is unified under the Meritus CU brand with the Kasasa ecosystem providing rewards-based checking and savings products.

Differentiator

Problem solved

Functional benefit

Brands

• Kasasa Cash: Free rewards checking account with cash back rewards
• Kasasa Cash Back
• Kasasa Tunes
• Kasasa Saver
• Wise Kids Savings Club
• Young Ragin' Cajuns Club
• Class Cash

Products and services

• Kasasa Cash Checking

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature5 records

Partnerships

Six partnerships are on record, tiered core, flagship and minor.

• Sallie MaecoreStrategic or Co-development PartnerMeritus Credit Union partners with Sallie Mae to offer private student loans for undergraduate, career training, and graduate students. Products include Smart Option Student Loan, Graduate School Loan, MBA Loan, Medical School Loan, Dental School Loan, and Law School Loan. Meritus CU is compensated by Sallie Mae for referral of loan customers.
• TruStage InsurancecoreGTM or Marketing PartnerTruStage insurance products including Accidental Death & Dismemberment (AD&D) insurance ($1,000 free coverage plus up to $300,000 additional coverage) and Auto & Home Insurance program. Backed by 80+ years of credit union partnership experience through CMFG Life Insurance Company.
• FiservcoreTechnology or IntegrationMobile banking app powered by Fiserv technology platform. Provides digital banking infrastructure including mobile deposit, account access, transfers, and card management features.
• Early Warning Services (Zelle)coreTechnology or IntegrationZelle peer-to-peer payment integration available through mobile banking and online banking. Enables fast money transfers to enrolled recipients at over 2,300 financial institutions.
• Louisiana Ragin' Cajuns AthleticsflagshipGTM or Marketing PartnerOfficial Credit Union of the Louisiana Ragin' Cajuns. Partnership includes sponsorship of Young Ragin' Cajuns Club for children ages 2-12 ($30 annual membership with game day perks), athletic event sponsorships, and co-marketing initiatives serving the UL Lafayette community.
• Acadiana Community OrganizationsminorGTM or Marketing PartnerCommunity involvement partnerships with local nonprofits including United Way of Acadiana, Junior Achievement of Acadiana, Boys and Girls Club of Acadiana, Festival International de Louisiane, Catholic Charities of Acadiana, DREAMS Foundation, LARC, and other local organizations.

Scale indicators5 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• Neighbors Federal Credit Union: Baton Rouge-headquartered community credit union with a similar multi-parish Louisiana consumer focus. Comparable in size range, product mix, and member demographic.
• Pelican State Credit Union: Louisiana-headquartered community credit union serving consumers and businesses statewide. Directly comparable as a community-chartered Louisiana credit union competing for similar retail deposit and consumer loan relationships.
• Campus Federal Credit Union: Baton Rouge-based community credit union historically serving the LSU/education community. Highly comparable given similar education-community heritage, Louisiana footprint, and consumer banking focus.
• CSE Federal Credit Union: Louisiana community credit union offering a comparable suite of consumer deposits, lending, and digital banking. Competes for the same Acadiana/regional consumer wallet.
• JD Bank: Louisiana community bank with retail branch presence and similar consumer deposit/loan products. Comparable as a locally-rooted community institution competing for the same Acadiana retail banking relationships.
• Red River Bank: Alexandria-based Louisiana community bank serving retail and commercial customers across central Louisiana. Comparable as a locally-rooted Louisiana financial institution with similar product breadth.
• MidSouth Bank: Lafayette-headquartered Louisiana community bank directly operating in Meritus's home market. Highly comparable competitor for Acadiana consumer deposits, mortgages, and small-business banking relationships.

Regional players

• Keesler Federal Credit Union: Mississippi-headquartered community credit union of comparable size with similar consumer banking, lending, and digital product mix. Comparable in operating model and scale though serving a different geography.

Broad incumbents

• Navy Federal Credit Union: Largest U.S. credit union with a national consumer banking footprint. Comparable as a federally-chartered credit union offering the full suite of consumer deposits, lending, and digital services, though at materially greater scale.
• SchoolsFirst Federal Credit Union: Large California-based credit union founded on the education community with similar heritage to Meritus. Comparable in origin story and member-focused model, though operating at significantly larger scale.

Market position

Strengths5 records

Weaknesses2 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/merituscu
• LinkedInlinkedin.com/company/merituscu
• Instagraminstagram.com/merituscu

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Meritus Credit Union