Since 1954, MERITUS® Credit Union (formerly Lafayette Schools Credit Union) has been dedicated to providing the best value in banking. You can count on us for personal service and solutions that fit every stage of your life and financial goals. No matter where the future takes you, your credit union membership lasts a lifetime. We invite you to join today.
Securing your future by delivering affordable financial solutions, education and personal service with compassion and integrity.
On July 18, 1954, Lafayette Parish Teachers Federal Credit Union was born. It was a federally chartered credit union begun by 8 people with sixty dollars in its coffers. The original board was comprised of Merritt S. Beadle, Elmo C. Authement, Ellis P. Savoy, Helen M. M. Landell, Minnie Me Rowe, J.C. Glorioso, George M. Armstrong Jr., and Nat Gisclaire. Armed with the philosophy of "people helping people”, the charter members made decisions that were good not just for one, but for all. Their mission statement said it all, "To serve as the Primary Financial Institution for our members in a friendly, efficient, and professional manner”. The purpose of the credit union stated in its bylaws is "to promote thrift among its members… and to create for them a source of credit for provident or productive purposes.” The credit union Board of Directors chose to serve a single field of membership — the employees and board members of the Lafayette Parish school system who work in Lafayette Parish, Louisiana; and members of their immediate families.
The credit union’s original facility started in a small back office of the Lafayette Parish School Board building. At this time, share accounts and small loans were the only services offered. As it continued to grow, it transitioned through 2 more locations until in 1996 it built its Lafayette main branch location on Guilbeau Road in Lafayette as a one-story building. However, moving to a newer facility on the south side of town sparked much interest from the field of membership and the growth really took off. The addition of new services, such as checking accounts, different types of loans, etc. were required to keep up with the needs of its members.
In 1999 the credit union changed its name from Lafayette Parish Teachers Federal Credit Union to Lafayette Schools’ Federal Credit Union. Then in 2000, the credit union began serving the employees of the Acadia Parish School System, City of Crowley and the Council on Aging along with all their immediate families. By 2004, a second floor was constructed at the Lafayette main branch to accommodate credit union growth. In 2007 the Iberia Branch opened and began serving the employees of the Iberia Parish School System and their immediate families. The Carencro Branch opened in 2013. In 2018, the name was changed to Meritus Credit Union. Today, Meritus Credit Union is $200 + million in assets and over 22,000 members.