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Meridian launches a new, free financial resilience tool for Canadian businesses and a Small Business Contest for customers to ‘pay it back’

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Eligible businesses have a chance to win prizes $15k, $10k or $5k 

Toronto, ON – October 18, 2021 – Canadian businesses are getting free access to a first-in-kind new tool launched by Meridian, just in time for Small Business Month.  The Meridian Financial Resilience Score is designed to help businesses gain perspective on their financial situation, gauge their financial resilience and find out how to build their capacity for more.
“Resilience is key for everyone, including businesses, to feel more confident about how they are going to achieve their goals,” said Jason Teal, Vice President, Business Banking, Meridian. “Our experience is that once people become aware what behaviors are impacting their financial resilience, they can take actionable steps to get stronger.”

Meridian’s tool helps businesses get their ‘baseline’ by focusing on three key areas: financial management, accessing capital and planning. If any of these areas need attention, resources and tips can be shared with businesses to help shore up their resilience capacity. 
Any business can fill out the survey as many times as they want and get a copy of their results each time to see how their score changes. The survey is quick and easy to take and can be found at Meridian Financial Resilience Score for Business. Meridian’s Financial Resilience Score for Business leverages the Small Business Financial Health Framework from the Financial Health Network. 

“Pay it back” to your favourite business

Meridian is also launching a Small Business Contest to celebrate and recognize the efforts of Ontario’s small business community during the pandemic.  Winners are eligible to receive cash prizes of $15,000, $10,000, and $5,000. The person who nominates the first prize winner will also receive $500. 

“As a financial services partner to more than 25,000 businesses, we wanted to pay tribute to Ontario’s business sector for keeping our communities vibrant and healthy,” said Jason. “It’s up to all of us to provide continued support and momentum. The contest is an opportunity for business customers to show their appreciation and thanks.” 
Winners will be selected based on three criteria themes: businesses resilience, innovation, and community involvement. 

Nominations can be submitted by any Ontario resident and are being accepted until October 31st. For anyone who has enjoyed, been supported by, or simply been impressed by their favourite small business during COVID, please visit Meridian’s Small Business Contest site and nominate a well-deserved business.  

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About Meridian Business Banking
Meridian's Business Banking serves more than 25,000 Members in 15 Business Banking Centres located across Ontario, helping our Member businesses grow and build stronger communities. Meridian offers a full suite of banking services for all sizes of businesses, including cash management, financing, and Business Visa. In addition, Meridian has specialized industry teams that focus on specific sectors such as Corporate Finance and Real Estate and Development. For more information, see our Small Business and Commercial Banking sites, and visit us on LinkedIn.
 
About Meridian 
With more than 75 years of banking history, Meridian is Ontario’s largest credit union, and second largest in Canada, helping to grow the lives of 375,000 Members. Meridian has $27.2 billion in assets under management (as at June 30, 2021) and delivers a full range of financial services online, by phone, by mobile and through a network of 89 branches across Ontario, and business banking services in 15 locations. Meridian cardholders also have access to over 43,000 surcharge-free ABMs in North America with THE EXCHANGE® Network and the Allpoint Network in the US. For more information, please visit: meridiancu.ca, follow us on Twitter @MeridianCU or visit us on Facebook

For more information contact:
Teresa Pagnutti, Public Relations, Meridian
teresa.pagnutti@meridiancu.ca; 416-275-3816

Jacob Del Zotto, Corporate Communications, Meridian
Jacob.DelZotto@meridiancu.ca; 647-242-8877

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.

For permission to republish this content, please contact the Meridian Credit Union Marketing Department at communications@meridiancu.ca. ©️ 2022 Meridian Credit Union