Meridian Fast Facts | Meridian Credit Union

Meridian is Ontario’s largest credit union, and second largest in Canada, helping to grow the lives of more than 370,000 Members.

More than 75 years of banking history
100-per-cent owned by its Members
89 branches and 15 Business Banking Centres across Ontario (as of December 31, 2020)
$26,500,000,000 in assets under management (as of December 31, 2020)
More than 1900 employees at Meridian Credit Union
Meridian Credit Union Corporate offices in St. Catharines and Toronto

Save, borrow, invest
Online, mobile and telephone banking
Wealth management including professional advice and access to a range of investments solutions
Business banking services including cash management, financing and lines of credit
Contact Centre open seven days a week

Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA)
Eligible deposits (not in registered accounts) are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA)
Meridian cardholders have access to over 43,000 surcharge-free ABMs in North America with THE EXCHANGE® Network and the Allpoint Network in the US

Many decisions on mortgages, loans, small business financing are made on the spot in the branch, by employees who know you
We look for ways to save you money and anticipate things before they become an issue, like our blend and extend mortgage feature, which results in reduced mortgage payments for the Member with more of the payments going towards the principal of the mortgage
Unbiased investment advice and arm’s-length investment products

In 2019, 50% of our employees supported over 425 community organizations and not-for-profit partners annually through volunteering, donating and fundraising activities. Our employees contributed more than 10,000 volunteer hours in 2019 alone.
Meridian was awarded the Canadian Credit Union Association's National Social Responsibility Award in 2019 for our signature employee giving program, "My Commitment to Communities."

October 2020 – Launched a first-in-market lending solution called The Hybrid Mortgage, which allows Members to increase purchasing power while maintaining short term affordability in payments
September 2019 – Launched the first-in-kind "Raise the Rate" GIC which gives Members the ability to rate match and move to a higher interest rate during the investment term
March 2019 – Introduced Rate Scoop, which provides Members advance notice of upcoming rate changes, enabling Members to make empowered decisions
December 2018 – Meridian launched Price Drop, a new, automated price matching service that puts dollars back into the pockets of Members
November 2017 – Officially launched its digital unsecured and secured lending platforms - allowing for a streamlined and convenient application and approval process for mortgages and loans completely online
March 2016 – First Canadian Financial Institution to offer Sweep, an automatic cash flow management service to help Canadians save while also keeping funds in their account for payments
April 2015 – Offered the lowest mortgage rate in Canadian history with 1.49% for 18-months

Purchased Roynat Lease Finance, a leading supplier of customized commercial equipment leasing solutions, which began operations as Meridian OneCap Credit Corp.
Meridian launched its subsidiary and Canada’s newest digital bank, motusbank, on April 2, 2019 after receiving Order to Commence from Ontario Superintendent of Financial Institutions (OSFI)