Toronto –September 11, 2019–Meridian, Ontario’s largest credit union and third largest in Canada, is pleased to announce the appointment of Hugh Swandel as President of Meridian OneCap Credit Corporation.
OneCap, a fully owned subsidiary of Meridian, provides customized equipment financing solutions both through vendors and brokers across the country. As a leading supplier of customized commercial equipment leasing solutions, Meridian OneCap has one of Canada’s most successful direct sales teams.
“After an extensive national search, we are very pleased to welcome Hugh,” said Bill Maurin, President and CEO of Meridian. “OneCap has established a strong market presence across the country and is known and respected for its personalized service and customized solutions. We see significant potential for further growth in the Canadian equipment finance space and we are delighted to have Hugh on board to seize upon that opportunity. Hugh has 29 years of extensive experience across the North American equipment finance and leasing industry and will bring significant value to our organization.”
Hugh has contributed to the success of many top industry firms across Canada and the United States. Hugh’s work experience has included optimizing business models, organic growth strategies, numerous M&A transactions and operational efficiency. His industry experience has also included contributions to the Canadian Finance and Leasing Association as a long serving board member.
“I’m looking forward to joining the team and working with both colleagues and business partners,” said Swandel. “OneCap’s potential for more growth, coupled with its outstanding reputation as a Canadian leader in this sector are just two of the motivating factors that drew me to this opportunity.”
Swandel takes the role of President of OneCap Credit Corporation on September 23 and will be based out of Burnaby, B.C.
Acquired by Meridian in April 2016, OneCap currently has 125 employees with assets of $1.37 billion (at March 31, 2019).
With more than 75 years of banking history, Meridian is Ontario’s largest credit union and the third largest in Canada, helping to grow the lives of its 350,000 Members. Meridian has $22 billion in assets under management and delivers a full range of financial services online, by phone, by mobile and through a network of 91 branches across Ontario, and business banking services in 13 locations. Meridian Members also have access to THE EXCHANGE® Network, with 3,700 no-fee ABMs across Canada and 500,000 ABMs in the United States. Meridian also offers retail banking services nationally through its recently launched subsidiary, motusbank. For more information, please visit: meridiancu.ca.