TORONTO (November 18, 2019) – Meridian, Ontario’s largest credit union and third largest in Canada, is honoured to be a 2019 recipient of two Governance Professionals of Canada (GPC) Excellence in Governance Awards (EGAs). For the second consecutive year, Meridian has received an Award of Excellence for Best Approach to Achieving Effective Board and Committee Operations. Meridian is also a recipient of an Award of Excellence for Best Practices in Enterprise Risk Management.
“We are delighted to be recognized with two esteemed awards this year, and, on behalf of the Board, I would like to express our appreciation of our CEO Bill Maurin and his team for their unequivocal commitment to raising the bar for governance best practices,” said Karen Farbridge, Meridian’s Board Chair.
“As a Member based organization, Meridian understands the importance of trust, and excellence in governance is the foundation of trust,” said Bill Maurin, President & CEO, Meridian. “As our organization grows, our commitment to the highest standards of corporate governance is essential for continued success and enduring trust from our Members.”
The category of Best Approach to Achieving Effective Board and Committee Operations recognizes best practices and innovations applied to ensure that board and committee composition, processes and time are actively managed to maximize their governance and strategic oversight functions. Judges cited how Meridian has continued to strive for excellence following its 2018 win, crafting new approaches with fresh ideas to advance the operation of its Board and committees.
“Through a commitment to continuous improvement and an innovative approach to developing and implementing best practices, Meridian ensures we maintain a robust governance framework that truly serves our Members most effectively,” said Sunny Sodhi, Chief Strategy & Corporate Affairs Officer, Meridian.
The category for Best Practices in Enterprise Risk Management (ERM) looks at how management is managing and/or mitigating a company’s material risks, bringing them to the Board’s attention and assisting the Board to better understand and evaluate how these may affect the company.
The judging panel cited how Meridian promotes a proactive ownership of risks through its Board Risk Committee and its Board oversight to ensure clear and strong ownership of best practices throughout the organization.
“Meridian has built a strong, balanced approach between growth and Enterprise Risk Management ensuring that we are well-positioned and equipped to continue making prudent and better decisions to address future opportunities and challenges,” said Leo Gautreau, Chief Risk Officer, Meridian.
The EGAs recognize the important contribution governance professionals make in terms of best practices that build and sustain shareholder and stakeholder value.
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 more than 350,000 Members. Meridian has $22.9 billion in assets (as at September 30, 2019) and delivers a full range of financial services online, by phone, by mobile and through a network of 92 branches across Ontario, and commercial banking services in 14 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. For more information, please visit: meridiancu.ca.
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