An exciting new look has come to Lafayette Schools Credit Union. We are now known as MERITUS® Credit Union.
Since 1954, Lafayette Schools Credit Union has been known for quality service, integrity and commitment to our members and their families. We are proud of our roots serving local educators and will continue our dedication to serving your needs. Our credit union was established on the hard-working principles of our founders, educators, and we will always be mindful of their continuing contributions to the credit union they helped establish.
What does "Meritus” mean? "Meritus” is a derivative of the Latin word meritum, meaning "to act worthy of praise." The name "Meritus” demonstrates our commitment to integrity and member service. Synonyms that help illustrate the positive connotation associated with the word "Meritus” include virtue, honor, esteem, praiseworthy and merit-worthy. Our new name is both a respectful reflection towards our education-based legacy members, as well as one that will resonate with new and future members.
Why the new name? It is important we encourage future member growth. As with any industry, stagnation is not an option. Credit unions have changed dramatically over the years. Additionally, our community charter, granted in 2014, allowed us to expand membership to individuals beyond our original local education community base. The previous name (Lafayette Schools Credit Union), which worked well for years, no longer accurately depicts and portrays individuals who can join our credit union as a result of our expanded community charter. In an effort to be as inclusive as possible and offer the many benefits of credit union membership to our growing local population, a new name is necessary.
This name change has no impact on any of your accounts and we are not being sold, merged or acquired. You and your fellow members will always be our credit union’s owners and we will continue providing the personal service you have come to expect. In fact, we believe we will serve you even better as we grow and increase our resources. Our new name will help us all grow … together.
If you have any questions regarding the name change, please call us at (337) 989-2800. Look for additional information in upcoming communications.
Name Change FAQ
Is this a merger or sale of Lafayette Schools Credit Union? Is Lafayette Schools Credit Union changing ownership?
No, this is not a merger or sale. Our members still own the credit union! The credit union is not under new ownership and our committed staff, managers and directors are all still serving you and your best interests. We are just changing the name, not the way we do business.
How will this affect my membership status?
Not at all! The name change has no impact on member status. You and your fellow members will always be our credit union’s owners.
Will my Lafayette Schools Credit Union ATM, debit and credit cards still work?
You can still use your current Lafayette Schools Credit Union ATM, debit and credit cards. Your old cards eventually will be replaced with new cards displaying our new name and logo.
Can I still use Lafayette Schools Credit Union checks and deposit slips?
You can continue to use your Lafayette Schools Credit Union checks and deposit slips. When you run out of checks or deposit slips, your new ones will have the new name and logo.
Is the management or Board of Directors changing?
No. You'll still see the same friendly faces at our branches and events.
Will I have to change automatic drafts and direct deposits?
Automatic drafts and direct deposits will continue to use the same routing/transit account numbers as now. These numbers have not changed, so there is no need to update this information.
Will this affect my loans, savings and investments?
The name change will not impact any of your accounts. If you currently have certificates of deposit, these remain valid and at renewal time will be replaced with our new name and logo. There is no need to do anything.
Is Meritus Credit Union moving away from its affiliation with the local education community?
Not at all! Meritus is proud of our history with the local education community. It is these pioneering individuals who helped establish our credit union in 1954. We would not be here today if local educators had not founded this credit union and continued supporting us for so many years. We respect this legacy group of members and will always gladly acknowledge their continuing contributions to our credit union. Far from being a move away from our roots, this change is in reality a proactive step towards becoming a better financial institution. As the times have changed, so has our evolving membership base. While local educators will always be a vital part of that base, we must acknowledge that our community charter now allows us to serve an expanded group of people (anyone who lives, works, worships or attends school in Acadia, Iberia, Lafayette, St. Martin and Vermillion parishes) as well as the immediate family of existing members. Our new name is more inclusive of this expanded membership base.
What are some of the positives of the name change?
Meritus Credit Union is a new name but comes with our established commitment to member service excellence. Rates on deposits and loans will remain competitive. Our growth and increased resources will allow us to serve our members even better. The new name is more reflective of our expanded field of membership and represents a dynamic and vibrant introduction to our credit union and its products and services. New leaves, same roots … Meritus Credit Union.