Meriwest Credit Union Develops HomeFast ADU Loan to Aid in Bay Area Housing Demand

SILICON VALLEY, Calif., Sept. 22, 2025 (GLOBE NEWSWIRE) -- Meriwest Credit Union announces the launch of the Meriwest HomeFast ADU Loan, a program designed to provide financing to homeowners’ considering building or buying an Accessory Dwelling Unit (or ADU). ADUs are gaining popularity as a solution to affordably and efficiently utilize excess residential land to expand livable space for personal or rental use. If the goal is generating rental income, accommodating multi-generational households, or enhancing property value, the Meriwest HomeFast ADU Loan provides financial flexibility to bring these projects to life.

Recent changes to California zoning regulations along with cities and counties expediting ADU permits, has caused ADU development demand to spike. Meriwest Credit Union is proud to be a part of the Bay Area housing demand solution.

“We designed this product based on listening to our community. Our Meriwest HomeFast ADU Loan is about empowering our members to make the most of their properties,” said Chad Maze, Executive Vice President and Chief Operating Officer at Meriwest Credit Union. “Whether it’s creating a rental unit to generate extra income, housing loved ones, or adding functional space, this loan makes ADU projects achievable when our community needs them the most.”

The Meriwest HomeFast ADU Loan offers key features to support a wide range of projects:

Loan Amounts: $25,000 to $500,000 or more, accommodating everything from modest backyard cottages to fully equipped secondary units.
Term: 25 years, with interest-only payments for the first 12 months to ease the financial burden during construction.
Introductory Rate: 5.99% APR for the first 12 months, providing significant savings during the initial phase of the project.

All loans are subject to credit approval and certain conditions apply. To learn more or to apply, please connect with Meriwest online at www.meriwest.com/homefast-adu-loan, by phone at (877) MERIWEST (637-4937), or just stop by a branch.

Federally Insured by the NCUA. Equal Housing Lender.

About Meriwest Credit Union

Founded in San Jose, California in 1961, Meriwest Credit Union, ($2.1B in assets) is one of Silicon Valley’s most established financial institutions. Dedicated to delivering advice-based, personal, convenient, and innovative financial services to over 80,000 families and businesses throughout the San Francisco Bay Area and Pima County, Arizona, Meriwest offers a wide array of personal banking, business services, and wealth advisory services. Meriwest has been voted one of the ‘Best Credit Unions in Silicon Valley’ in the Mercury News’ Annual ‘Readers’ Choice Awards’ and a “Best Place to Work” by the Silicon Valley Business Journal 2020 through 2025. More information can be found at www.meriwest.com.

Media Contact: Jeffrey Zane, Meriwest Credit Union Public Relations, 408-612-1484, jzane@meriwest.com

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