TORONTO (June 1, 2011) – Meridian today announces that it has completed its amalgamation with Desjardins Credit Union and beginning today, Desjardins Credit Union will operate under the Meridian banner.
The amalgamation reinforces Meridian’s position as the largest credit union in Ontario with 263,000 Members and $8 billion in assets under management. The amalgamation includes Desjardins Credit Union’s 19 branches, Central Loans Processing Unit and Head Office.
“I wholeheartedly welcome Desjardins Credit Union Members and employees to the Meridian team,” said Sean Jackson, Meridian’s President and CEO. “This amalgamation has expanded our footprint in Ontario and will supply additional resources to provide Ontarians with a trusted banking alternative that is committed to providing superior personalized service.“
Meridian anticipates Members of the former Desjardins Credit Union branches will experience the full Meridian offering within the next year as the integration to Meridian’s operating systems and technologies is expected to be completed next spring.
About Meridian
Meridian is Ontario’s largest credit union, serving more than 263,000 Members in communities across south central Ontario. With more than $8 billion in assets under administration and over 65 years of banking history, Meridian delivers a full range of financial services, solutions, and advice tailored to meet each Member’s individual needs, including access to The Exchange® Network with more than 2,400 no-fee ABMs in Canada. Membership in Meridian is open to anyone looking for a financial services provider with a local, community focus that offers a viable alternative to traditional banking options.
-30-
For more information call:
Diane Medeiros
Manager, Media and Stakeholder Relations, Meridian
(416) 597- 4444, ext. 2667
