Letter from President/CEO

As a Meritrust Credit Union member, we need your help. You may have heard politicians in Washington are considering an overhaul of the federal tax code, which includes a “blank slate” approach to reforming taxes. Under this scenario, all tax exemptions would be removed from the tax code and Congress would write a new tax code from scratch. If this happens, our tax-exempt status would be eliminated, which would greatly impact the products and services we offer to our members.

As a member-owner of a financial co-operative, you experience the many benefits of your credit union membership. But, unfortunately, many members of Congress do not understand the difference between a credit union and a bank and therefore, do not fully grasp the benefits of a credit union in their constituent’s community. We need your help with communicating the credit union difference to Congress.

What’s the difference between a bank and a credit union? Banks maximize profits for a group of investors, whereas credit unions exist to serve their members—which includes working families, small businesses and local communities. Banks and credit unions both earn a profit, but what we do with our profit is different. We return our profits to our members in the form of higher return on savings, lower rates on loans, low or no fees, as well as free convenience services—such as online banking, mobile banking apps, bill pay, online budgeting tool, eDeposit, financial counseling, access to over 30,000 surcharge-free ATMs throughout the world and over 5,000 shared branches throughout the nation and more!

How does a credit union make a difference for the people in Kansas? According to the Credit Union National Association (CUNA), consumers saved $5.7 billion last year by using credit unions instead of banks due to credit unions’ lower loan rates, higher yields on savings and fewer/lower fees. For Kansas consumers specifically, credit union members saved $53 million last year, resulting in an annual household savings of anywhere from $160-$1,320 depending on product usage. In addition, bank customers also benefitted to the tune of $3.4 billion because credit unions’ presence in the marketplace forced banks to charge less than they otherwise would in order to stay competitive.

What does the credit union tax exemption mean to you? It means you save money. Credit unions pass the savings onto their members in the form of higher return on savings, lower rates on loans, low to no fees, as well as access to free convenience services. In fact, according to research from CUNA, for every $1 of our tax exemption, credit unions return $10 to members in the form of better rates and lower fees.

It is also important to note while credit unions have a federal income tax exemption, we do pay other types of taxes including real property taxes, tangible personal property taxes, payroll taxes and various other taxes. The rationale for the tax-exempt status has been reaffirmed by the U.S. Congress several times since it was first enacted in 1937. We don’t want the credit union difference to end in the marketplace because Congress doesn’t understand the benefits to consumers.

Please take action today! Contact your legislators and tell them to not tax your credit union. Simply go to www.DontTaxMyCreditUnion.org to register and from within the site, you can send an email or letter to your Senators and Congressman educating them on the credit union difference and why credit unions are important in our communities. You can also call 877.642.4223 toll free to contact your Congressman about this issue.

Thank you for supporting credit unions! We solely exist to help our members reach their financial goals, both in good times and bad times. We are more than a place to put your money. If you have any questions, please feel free to contact me at 316.683.1199 or toll free at 800.342.9278.

Respectfully,

James Nastars
President/CEO

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Run for the Fund of it in the 2013 Meritrust Tiger Trot!

Meritrust is proud to sponsor the Meritrust Tiger Trot at Tanganyika Wildlife Park on Sunday, September 8th. The Tiger Trot is one of the most important fundraising events for Tanganyika Wildlife Park and their Winter Fund as part of their 501(c)(3) Species Survival Fund. This fund helps the zoo raise the nearly $600,000 it takes to support the animals in their care each year with no assistance from government funding, while also working for wildlife around the world. Tanganyika Wildlife Park is a private, family-owned zoo passionate about preserving endangered animals. More than 50% of the animals in their care are endangered.

The Meritrust Tiger Trot features a 15K and 5K road race. The 15K is the official training race for the Prairie Fire Wichita Marathon scheduled for October. There is also a brand new option for walkers to participate in the Dragon Walk (5K and 1K).

Meritrust members qualify for a $5 race registration discount to participate in either the 15K or 5K run events. When registering online, enter MERITCU in the Coupon Code box and hit apply to the right of the box. Your Meritrust membership discount will be displayed. Please note: the code and discount can only be applied to the 15K run or 5K run. It is not available to apply to the 5K walk or 1K walk registration.

Register online here! You can also stop by any Meritrust location for more information.

Meritrust Tiger Trot 15K  (Eligible for Meritrust member discount)
TIME: Starts at 8:05AM
ADVANCED ENTRY: $42.00
DAY OF ENTRY: $45.00

Meritrust Tiger Trot 5K  (Eligible for Meritrust member discount)
TIME: Starts at 8:20AM
ADVANCED ENTRY: $32.00
DAY OF ENTRY: $35.00

Dragon Walk 5K
TIME: Starts at 8:20AM
ADVANCED ENTRY: $25.00
DAY OF ENTRY: $30.00

Dragon Walk 1K
TIME: Starts at 8:20AM
ADVANCED ENTRY: $25.00
DAY OF ENTRY: $30.00

For more information, click here.

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Meritrust supports Spirit AeroSystems and “Tools for School”

Meritrust is excited to support Spirit AeroSystems with their Tools for School initiative as part of their Community Partners Network.

“Spirit’s initiative for giving back to their local communities is what Meritrust stands for as well. We are pleased to be able to support their cause and help families with their back-to-school needs,” said Jamie Taulbee, VP of Marketing.

Four of Meritrust’s branches will be drop-off sites for members and the general public to drop off school supply donations—Plant II, Oliver, Derby East and Derby West.

Donations can be dropped off between now and Thursday, July 25. Below is a list of supplies needed:

  • No. 2 writing pencils
  • Pink bevel erasers
  • Glue sticks
  • Elmer’s glue bottles
  • 12 inch plastic rulers
  • Crayola markers
  • Fiskar scissors
  • Crayola crayons (16 and 24 count)
  • Crayola colored pencils (12 count)
  • Crayola watercolors (8 count)
  • Spiral notebooks (70 pages)
  • Kleenex
  • Backpacks

Thank you for supporting our local schools and families!

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