Meridian Credit Union Ltd. is a Canadian credit union. It was formed on 1 April 2005 through the merger of Niagara Credit Union and HEPCOE Credit Union. It is insured by the Financial Services Regulatory Authority of Ontario.

History

Meridian is the third largest credit union in Canada, and the largest credit union in Ontario, with more than 365,000 members with total assets under administration of over $28.5 billion. Meridian offers banking, wealth management, credit products and services through 89 branches, and fifteen Commercial Business Centres.

Desjardins Credit Union The Desjardins Credit Union was an autonomous Ontario credit union whose creation was funded by the Desjardins Group in a 2003 buyout of the Province of Ontario Savings Office . As of 2010, the credit union had 50,000 members and CDN$1.4 bill ...

(the Ontario affiliate of the Desjardins Group) 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 The Bank of Nova Scotia (french: link=no, Banque de Nouvelle-Écosse), operating as Scotiabank (french: link=no, Banque Scotia), is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. One of Canada ...

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

On 17 August 2016, Meridian announced its intention to establish a federally chartered online banking subsidiary. On 4 February 2019 the name announced for the new entity was Motusbank, stylized as ''motusbank''. Motusbank launched across Canada on 2 April 2019. As of June 2019, Motusbank had approximately CAD$54 million in 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 The Alzheimer Society of Ontario (ASO) is a care and research charity committed to helping people living with Alzheimer's disease and other dementias by: * Providing care, support, information and education for people with dementia * Funding re ...

. Facilities which Meridian owns naming rights to include

Meridian Place Meridian Place is an outdoor, urban amphitheatre located in the heart of Barrie, Ontario next to Memorial Square and north of Heritage Park. It's entirely concrete with various features built for seating for an amphitheatre. Naming rights The nam ...

( Barrie) and Meridian Centre (

St. Catharines St. Catharines is the largest city in Canada's Niagara Region and the sixth largest urban area in the province of Ontario. As of 2016, it has an area of , 136,803 residents, and a metropolitan population of 406,074. It lies in Southern Ontario ...

References

External links

*
Motusbank official website
{{Canadian banks Banks established in 2005 Credit unions of Ontario 2005 establishments in Ontario Companies based in St. Catharines