Newcomers to Canada
Banking solutions to help you start your new life in Canada
Welcome to Canada. We’re here to help.
Meridian offers newcomers the full range of banking services and guidance to get started. It’s easy to set up an account for your everyday banking, make bill payments, or send money to loved ones back home.
We can also help you establish a credit rating in Canada, save for your children’s education, invest for your future, and more.
As Ontario’s largest credit union, we’re committed to providing exceptional banking services and advice. Unlike many larger financial institutions, we don’t have public shareholders. As a Member, you are an owner. Our profits go towards improving our products and services, and innovating new ways to enhance our Members' lives.
Build your financial confidence. Live your best life, with Meridian.
How to open a bank account in Canada
To open a new account with Meridian, visit one of our branches. Please bring a document that proves you moved to Canada within the last five years, such as:
- Temporary residents (IMM 1442)
- Permanent residents
You will also need to bring:
- Government photo ID, like a driver’s license, Ontario photo card (or photo card from another province or territory), nexus card, etc.
- Your Social Insurance Number (SIN). If you do not have a SIN you may still be able to open an account. One of our advisors will walk you through the process.
Yes. With over 365,000 Members and over 90 branches, Meridian is well established across Ontario.
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).
Yes, you can bank anywhere, anytime with Meridian. We offer a full range of digital, in-person, and over the phone banking services.
Yes, newcomers can apply for a Meridian credit card – even if they have no credit history. Visit a branch or call our Contact Centre to talk about eligibility requirements and find the right card for your spending needs.
Both credit unions and banks in Canada offer similar products and services, including savings and chequing accounts, credit cards, loans, mortgages, investment products, and access to online and telephone banking.
As a credit union, we don’t have public shareholders — our Members are our owners. That means more of our profits are used to help support the communities of the Members we serve.
Investing in communities is a foundational part of our identity. We believe that by using our financial expertise in combination with community-focused partnerships, we can effect meaningful change and help communities build financial resilience.