Jump to Main Content

Fast Facts

Line Art Icon

Meridian is Ontario’s largest credit union, and third largest in Canada, helping to grow the lives of 350,000 Members.

  • 100-per-cent owned by its Members
  • More than 75 years of banking history
  • 92 branches and commercial banking services in 14 locations across Ontario
  • $22.9 billion in assets under management (as of September 30, 2019)
  • Two thousand employees at Meridian
  • Meridian Credit Union Corporate offices in St. Catharines and Toronto


Full range of banking products and services

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


Products and services not available through the banks

  • Insurable deposits such as RRSPs and TFSAs have unlimited coverage
  • Insurable non-registered Canadian deposits are covered up to $250,000
  • Insurable deposits covered by the Deposit Insurance Corporation of Ontario (DICO)*
  • Surcharge-free access to more than 3,700 ABMs across Canada through The EXCHANGE® Network, one of Canada's largest ABM networks
  • Access to 500,000 ABMs and more than three million point-of-sale terminals in the United States through the ACCEL® network
*For further information on deposit insurance, please ask for a brochure at the credit union or visit DICO’s website at www.dico.com.
®THE EXCHANGE and ®THE EXCHANGE Design and ACCEL and ACCEL logo are registered trademarks owned by Fiserv Inc., licensed for use in Canada by FICANEX Services Limited Partnership.

 

We have our Members’ backs

  • 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


Committed to investing in the communities we serve

  • Each year, our over 90 branches participate in nearly 400 community events, programs and initiatives with non-profit partners
  • Nearly 50% of our employees support over 450 community organizations through volunteering, donating and fundraising activities 


Strong track record of creating and delivering innovative new offers

  • 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
  • April 2013 – One of the first Canadian Financial Institutions to offer Deposit Anywhere, allowing Members to deposit cheques using a SmartPhone
  • April 2011 – First Canadian Financial Institution’s ‘no-bounce’ service where Members are contacted if there is not enough funds in their accounts to cover payments


Subsidiaries

  • Purchased Roynat Lease Finance, a leading supplier of customized commercial equipment leasing solutions, which began operations as Meridian OneCap Credit Corp. with assets of $1.43 billion (at August 31, 2019) and 115 employees
  • 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)