Meridian Credit Union

History

Meridian is the second largest credit union in Canada, and the largest credit union in Ontario, with more than 378,000 members with total assets under administration of over $28.5 billion. Meridian offers banking, wealth management, credit products and services through 88 branches, and fifteen Commercial Business Centres.

Desjardins Credit Union (the Ontario affiliate of the Desjardins Group, formerly Province of Ontario Savings Office ) and Meridian's membership voted in favour of a merger effective 1 June 2011. By 2012, most of the former Desjardins branches in Ontario had been renamed to Meridian branches.

In April 2016 Meridian completed its acquisition from Scotiabank of Roynat Lease Finance, a supplier of commercial equipment leasing. Roynat Lease Finance will operate as Meridian OneCap Credit Corp., a wholly owned subsidiary of Meridian Credit Union.

On 21 February 2017, Meridian announced and introduced a new line of Visa credit cards, moving away from MasterCard.

On 19 November 2019, Meridian won "Best Credit Union" at the 5th Annual Canadian FinTech & AI Awards.

During the COVID-19 pandemic in Ontario, Meridian closed branches and reduced hours to comply with lockdown orders. As a result, however, it laid off 109 members of its staff.

Motusbank

Motusbank

Motusbank began winding down operations in 2025 with a final shutdown date of November 1. Deposit and loan accounts were moved to Meridian Credit Union (“Meridian”) and Coast Capital Savings Federal Credit Union (“Coast Capital”).

Recognition

Meridian Credit Union was listed as one of Canada's top 100 employers by Maclean's magazine in 2009 and 2010.

Sponsorships

Through its "Commitment to Communities" program Meridian Credit Union contributes money to local causes and encourages employees to volunteer in their community. The company also donates to national organizations such as the Alzheimer Society of Ontario. Facilities which Meridian owns naming rights to include Meridian Hall (Toronto), Meridian Place (Barrie) and Meridian Centre (St. Catharines).

References

References

1. "Meridian Annual Report 2023". Meridian Credit Union, Limited.
2. "Meridian Annual Report 2019". Meridian Credit Union.
3. (2022-07-09). "Meridian Credit Union’s CEO embraces its special role helping people that traditional banks won’t". Toronto Star.
4. "Meridian Fast Facts".
5. (2003-01-28). "Desjardins to Buy Province of Ontario Savings Office". [[CBC.ca]].
6. "Meridian - Personal". Meridian Credit Union.
7. Ariss, Don. "2012 Annual Report Corporate Highlights.". Meridian Credit Union.
8. Spears, John. (1 March 2011). "Merger of Desjardins and Meridian creates credit union giant". [[Toronto Star]].
9. Medeiros, Diane. (29 April 2016). "Meridian Completes Acquisition of Roynat Lease Finance". Meridian Credit Union.
10. Fraser, Don. (19 April 2016). "Meridian Credit Union acquires Roynat Lease Finance". St Catharines Standard.
11. Ramsingh, Priya. (8 February 2017). "Meridian launches new line of Visa credit cards". [[CNW Group.
12. "Meridian wins first-ever Best Credit Union of the Year at Canadian FinTech and AI Awards". Meridian Credit Union.
13. (24 March 2020). "Meridian announces temporary branch closures in some locations across Ontario {{!}} Meridian". Meridian Credit Union.
14. (22 May 2020). "Meridian Credit Union cuts 109 jobs". stcatharinesstandard.com.
15. (17 August 2016). "Meridian credit union to launch national bank". CBC.
16. Shecter, Barbara. (17 August 2016). "Meridian credit union seeking license for national online bank to take on Big Five". Financial Post.
17. Shecter, Barbara. (17 August 2016). "Meridian credit union seeking license for national online bank to take on Big Five". Financial Post.
18. (4 February 2019). "Meridian Credit Union eyes spring launch for new digital bank {{!}} Financial Post". Financial Post.
19. (14 October 2019). "'Price matters': New online bank hopes to attract cost-conscious customers".
20. (March 31, 2019). "OSFI Guideline B-20 Disclosures".
21. "First month's worth of balance sheet data for Motus Bank available {{!}} motusbank {{!}} Discussion forum {{!}} Canadian High Interest Savings Bank Accounts".
22. "motusbank announcement {{!}} motusbank".
23. Windsor, Scott. "Meridian Credit Union Amongst Canada's Top 100 Employers". [[CNW Group.
24. (14 October 2009). "Canada's Top 100 Employers". [[Maclean's]].
25. "Meridian - Commitment to Communities – Community Programs - Meridian". Meridian Credit Union.
26. (24 April 2015). "Seeds of Hope - planting party at Meridian Credit Union".
27. Watt, Laurie. (12 June 2015). "Barrie unveils plans for outdoor city centre". [[Barrie Advance]].
28. (16 September 2013). "Meridian Pays $5.2Mil for Naming Rights". Partnership Group.