Meridian Credit Union


Meridian Credit Union Ltd. is a Canadian credit union. It was formed April 1, 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, serving more than 360,000 members with total assets under administration of over $23.9 billion. Meridian offers banking, wealth management, credit products and services through 92 branches, and fourteen Commercial Business Centres.
Desjardins Credit Union and Meridian's membership voted in favour of a merger effective June 1, 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 February 21, 2017, Meridian announced and introduced a new line of Visa credit cards, moving away from MasterCard.

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 recognized 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 Place and Meridian Centre.