Fast Facts

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

• 100-per-cent owned by its Members
• More than 75 years of banking history
• 90 branches and commercial banking services in 15 locations across Ontario
• $26 billion in assets under management (as of June 30, 2020)
• More than 2,000 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

• 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).
• Surcharge-free access to more than 3,600 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

®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

• 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."

 

Strong track record of creating and delivering innovative new offers

• 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

 

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 $1.35 billion (at June 30, 2020) and 120 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)