We are safe and secure.
Financial security is our primary concern and should also be yours. Read this page to familiarize yourself with Meritrust's financial statement, security efforts and gain confidence from our guidelines to online security and preventing identity theft.
Meritrust is a safe and secure financial cooperative with more than $98 million in reserves and over $947 million in assets. For more than 75 years, we have maintained our commitment to financial strength and stability to help over 77,000 members reach their financial goals.
4th Quarter 2016 Financial Statement
Why can you be confident in choosing Meritrust?
- We are rated "very well capitalized" by the National Credit Union Administration (NCUA)
- We were ranked in the top 20 for best performing credit unions in the nation by SNL Financial*
- The National Credit Union Administration (NCUA), a U.S. Government Agency, insures your savings up to $250,000 and the funds in your IRA up to $250,000
- We invest your savings, primarily in loans, to fellow members
- We have never engaged in subprime mortgage lending
- We adhere to sound financial underwriting practices
- We have a knowledgeable staff dedicated to finding the right product to meet your needs
- We maintain reserves in excess of 100% of the regulatory requirement
- We are regularly audited by Orth, Chakler, Murnane & Company, CPAs, P.A., an independent auditing firm
*a financial services industry analysis firm, awarded the ranking to our credit union based on six metrics: return on average assets; net charge-offs to average loans; operating expenses as a percent of operating loans; delinquent loans as a percent of total loans; market growth; and net interest margin as a percent of average assets. SNL said it looked at 400 credit unions in the country with at least $500 million in assets, and which also were sufficiently capitalized and had a net worth ratio of at least 7 percent.
ID Theft and Online Security
At Meritrust, one of our top priorities is to keep your personal information safe and secure. We offer our members a high level of security, using up-to-date encryption technology for online transactions, plus virus protection and firewalls.
How Meritrust Protects Your Information:
- We follow policy and safeguards when mailing out cards and statements
- We verify your identity when you call us
- If we suspect fraud, we may ask merchants to verify your identity at the time of purchase
- Dedicated staff constantly monitor your account for fraud and notify you of unusual activity
- We use state-of-the-art fraud prevention systems and technology
We access your personal information only when necessary to service or maintain your accounts. We do not share any of your information with third parties except as allowed, required by law or as necessary to provide you with services.
How You Can Protect Your Information:
Shred, shred, shred.It is very important to always shred any personal documents that are not being used including:
- Credit card and cash advance applications
- Account statements
- Paycheck stubs
- Any type of bill
- Purchase receipts
- ATM receipts
- Cancelled and voided checks
- Old or expired credit cards or IDs
- Old tax records
When in doubt, it is better to be safe than sorry. A good rule of thumb is to shred any document that includes any of the following:
- Social Security Number
- Birth date
- Account numbers
A decent cross cut shredder can be obtained from any office supply store for $100-$150...a small price to pay compared to that which would result from a stolen identity. If you're not in the market for a personal shredder, many community organizations including Meritrust Credit Union will periodically offer free shredding events open to the public.
Practice PIN & password safety. To protect personal identification numbers, passwords, and user IDs; do not write them down, keep them in your wallet or save them on a computer or website. Also, make PINs, passwords and user IDs complex enough to prevent them from being guessed. Be aware of your surroundings when using your PIN at a store or the ATM.
Shop smart. Whether in-store or online, beware of thieves and practice safe shopping. Never leave personal belongings unattended. When shopping online, ensure that the website is secure by checking for the "lock" icon on your browser and the "https" in the URL (website address). Also, keep anti-virus software and firewalls up-to-date for maximum protection.
Mix up passwords. In this technologically driven day and age where we conduct so much of our business and personal lives online, we're always being asked to create or remember a particular password in order to access one of our many accounts or portals. Although we'd like to be able to stick with a single (and very memorable) password for all of our uses, it is really best to switch things up. In the event that one of your accounts is compromised and the intruder tries to do the same with another, their attempt will be unsuccessful because you have multiple passwords. Though this may take some extra planning on your part, it will be well worth the extra effort to avoid the hassles associated with ID theft.
Go with direct deposit. Direct deposit of your paycheck, Social Security, pension, or tax return checks is the smartest option for avoiding a thief. When a check is sent via mail, you run the risk of having it intercepted by an unscrupulous individual who can easily use acid wash to change the name of the recipient on your check. Unfortunately, mail theft is more common that most of us might think.
Keep personal information personal. Never give out personal information to strangers over the phone or via email or text. Despite any convincing solicitations or phone calls you may receive, it is best to politely decline no matter who they claim to be. Also report any calls, emails, or texts claiming to be from your credit union and requesting personal information...Meritrust will NEVER do this for any reason since we already have your information.
Practice safe computer disposal. Are you ready to replace your outdated desktop for a sleeker and more efficient laptop? If so, you might be wondering exactly what to do with your old PC. The first thing you should do to safely dispose of your computer is to erase all information from the computer's hard drive. After years of use, you have accumulated all sorts of personal data on your machine; if this landed in the wrong hands it could be devastating. Use data destruction software which scrubs the hard drive and permanently deletes the data.
Put on a mailbox lock. A simple way to keep your personal information safe and secure is to lock your mailbox. Only you (and anyone else that you furnish with a key) will be able to remove mail from the box, but your postal carrier will still be able to put mail into the box. Outgoing mail should be sent from a U.S. Post Office box.
Do a credit report check. Check your credit score every six months, using different credit score companies each time. This will provide some insight into the status of your identity. The Fair and Accurate Credit Transactions (FACT) Act gives consumers the ability to secure one copy of their credit report for free from each of the three major credit reporting agencies every year. Free credit reports are available from http://www.annualcreditreport.com.
Make your network secure. If you have a wireless network for personal or business use, it is important to secure it in order to deter hackers who can easily and quickly take advantage of anyone with an unsecured network. By locking the router and encrypting your info, your network will become secure by setting up a password-this can be done relatively easily by following the instructions that came with your router.
In addition, when working online or surfing the web, there are some simple rules you can follow to lessen your chances of being the victim of an ID thief. Avoid opening spam, which are often viruses and phishing attempts in disguise. Better yet, set up a system for filtering junk email so that it never enters your In-box and can be automatically deleted without wasting your time or putting your security in jeopardy. Also, limit sharing personal info including account numbers and passwords on the web, especially on non-secure sites. While many web-based programs such as Facebook, Google Calendars help us stay connected and organized, they can also put us at risk if not used carefully.
If identity Theft Happens to You:
If you think you are a victim of identity theft, take these steps immediately:
- Notify any one of the three major credit bureaus and place a Fraud Alert on your credit report. This can help prevent an identity thief from opening additional accounts in your name. Once the credit bureau confirms your fraud alert, the other two credit bureaus will automatically be notified. Equifax: 1.888.766.0008, Experian: 1.888.397.3742, TransUnion: 1.800.680.7289.
- Contact Meritrust or other financial institutions and credit card companies. Close the affected accounts and open new ones with new Personal Identification Numbers (PINs) and passwords.
- File a report with your local law enforcement agency. Your local police department can file a miscellaneous incident report. Even if you do not catch the criminal, having the police report can help you clear up your credit records. Be sure to obtain a case number and ask for a copy of the report.
- Contact all the businesses that have opened accounts in your name without your permission. Close the accounts and let the businesses know that the accounts were opened fraudulently. Make sure you communicate with the businesses in writing.
- Notify the Federal Trade Commission (FTC). Call 877.ID.THEFT (877.438.4338) or visit www.consumer.gov/idtheft. By sharing your identity theft complaint with the FTC, you will provide information that can help law enforcement officials track down identity thieves.
- Report stolen mail. File a report with the U.S. Postal Service. Call your local Postal Inspector or visit www.usps.com.
- Call the Social Security Fraud Hotline. Immediately report that your card has been lost or stolen by calling the Hotline at 1.800.269.0271. Be sure to obtain a new driver's license and number.
- Report stolen checks. If your checks are stolen or misused, stop all payments and contact these check verification companies: Telecheck: 1.800.710.9898, Certegy, Inc: 1.800.437.5120. You can also call SCAN 1.800.262.7771 to find out if bad checks have been passed in your name.
- Alert the Securities and Exchange Commission (SEC). If you identify suspicious activity in your investment accounts, call the SEC at 1.800.732.0330.
For your convenience, we have provided an ID Theft Packet to help you with your identity theft case. The packet contains information which will assist you in the correction of your credit and will help ensure that you are not responsible for the debits incurred by the thief. In addition, this packet includes information that will allow you to obtain financial records related to fraudulent accounts for you to provide to law enforcement.
At Meritrust, we know how important the safeguarding of personal information is to our members and we take that request very seriously. Our members have the peace of mind knowing their personal information is safe and secure under our watch.
What's your choice? Join Meritrust and empower your choice.