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Meridian revolutionizes digital lending process


Toronto (November 21, 2017) – Meridian, Ontario’s largest credit union, continues to make significant strides in building a digital foundation for the future, announcing today the launch of its digital unsecured and secured lending platforms - allowing for a streamlined and convenient application and approval process. 
“As a Member-centric financial institution, Meridian strives to put our Members’ needs first and find innovative ways to serve them better,” said Bill Maurin, President and CEO of Meridian. “The launch of our secured and unsecured lending platforms is a real game changer in the personal lending space as it transforms what traditionally could be a highly frustrating process into a much more convenient and transparent experience for our Members.”   

Unsecured lending platform:

Meridian’s unsecured lending platform enables new and existing Members in Ontario to apply for a loan from start to finish completely digitally, without the hassle of uploading verification documentation or contacting a contact centre.
The platform offers approvals for loans up to $35,000 in real time. The process is straightforward, intuitive and provides applicants with instant approval. As part of the process, applicants will be provided free access to their credit score and the instant quote request will not impact credit scores. Members can receive the funds in their account of choice within a matter of days. 
With rates as low as 4.9 per cent, coupled with a speedy application process and delivery of funds, Meridian’s unsecured lending platform provides an excellent Member experience. ”

Secured lending platform:

Meridian’s digital lending service eliminates the document-intensive processes involved in accessing mortgage loans and simplifies it all onto one secure platform. In a matter of minutes, applicants can select their mortgage product, create their profile and secure their rate for 90 days. At their own convenience they can complete and submit their mortgage application— a process that takes less than 20 minutes. After approval, documents are verified and signed digitally.
“With time being a precious commodity for Canadians, today’s home buyers value and expect a fully digital and intuitive experience, and that is exactly what we are delivering with our platform,” explains Maurin. “From the application process to the mortgage closing, everything is easily completed online, so no branch visit is necessary.” 
The platform facilitates a mortgage application process that is truly simple and transparent. A design-driven approach was leveraged ensuring the platform delivers: 

  • End-to-end completion for the entire mortgage application process;
  • Free access for the applicant to their credit score;
  • Ability to hold the rate for 90 days;
  • Live chat support that provides applicants with expert advice and guidance if they should need it; and
  • Digital signature capability

For those who prefer the in-branch experience, buyers will still have the option to complete their mortgage in branch after the application is submitted online. 

For more information on Meridian’s new digital mortgage platform or to start an application, visit

About Meridian:
With over 70 years of banking history, Meridian is Ontario’s largest credit union, helping to grow the lives of its more than 300,000 Members. Meridian has $17 billion in assets under management and delivers a full range of financial services online, by phone, by mobile and through a network of 90 branches across Ontario, and commercial banking services in 11 locations. Meridian Members also have access to THE EXCHANGE® Network, with more than 3,300 no-fee ABMs across Canada and 500,000 ABMs in the United States. For more information, please visit:  


For more information call:
Diane Medeiros
Manager, Media & Stakeholder Relations
416-597-4444 Ext. 2667

Meridian Credit Union communications are intended for informational purposes only and do not constitute financial advice or an opinion on any issue. We would be pleased to provide additional details or advice about specific situations if desired.

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