2022 ESG Report
Value Created 
and Shared

Meridian Credit Union
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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Table of Contents
Indigenous Land Acknowledgement	
3
About Meridian	
4
Creating Value	
10
Q&A with Our Board Chair	
11
Message from the CEO	
12
Meridian’s ESG Principles 	
13
Our ESG Priorities 	
14
Environmental Stewardship	
15
Our Climate Commitment	
17
Managing Our Footprint	
18
Member Experience	
20
Building Financial Confidence	
22
Housing Affordability	
23
Community	
25
Standing with Our Communities	
27
Impact Investing	
28
Meridian IT Does ESG	
29
The Good Neighbour Program	
29
Volunteering in Our Communities	
30
People and Culture	
32
Introducing Our New Chief People and Culture Officer	
34
Employee Engagement	
35
Employee Wellness – Total Rewards	
36
Diversity, Equity, Inclusion, Belonging and Reconciliation	
37
Talent Attraction and Development	
38
Governance and Responsible Management	
39
Corporate Governance	
41
ESG Governance	
45
Risk Management	
46
Performance	
48
ESG Scorecard	
49
2023 and Beyond – Introducing Meridian for Good	
54
Value Created and Shared
Through Value Created and Shared, we build environmental, social and governance (ESG) programs with essential value. 
Aligning with our vision of being an inclusive, transparent and people-oriented financial partner, Value Created and Shared is 
our commitment to providing the energy and resources required to build comprehensive ESG programs that fit perfectly with our 
values and priorities. We do this not because we need to or because we’re obligated to; we do this because it’s the right thing to do.
About this report 
Welcome to Meridian Credit Union’s 2022 
ESG Report. Here we invite you to learn 
about our approach, plans and performance 
relating to ESG matters. This report covers 
data from the calendar year 2022, including 
a look at work launched or completed in 
2023. For more information related to our 
financial performance in 2022, please review 
our 2022 Annual Report.
We prepared this report with reference 
to the Global Reporting Initiative (GRI) 
Universal Standards and the Sustainability 
Accounting Standards Board (SASB) Asset 
Management & Custody Activities standards. 
Our 2022 performance data is aligned with 
select GRI and SASB disclosures and is 
captured in our ESG Scorecard starting on 
page 49.
Reference to “Meridian”, “we” or “our” in 
this report refers to Meridian Credit Union 
Limited and may include the operation 
of Meridian OneCap Credit Corp. and 
motusbank. Reference to “Meridian OneCap” 
or “OneCap” in this report refers to Meridian 
OneCap Credit Corp.
Meridian Credit Union Limited is a separate 
legal entity from OneCap and motusbank.
All reporting currencies are in Canadian 
dollars (CAD) unless otherwise stated.

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2022 ESG Report
‘Turtle Island’, a unique depiction 
of the connection between turtle 
and Mother Earth, designed by 
Asia Jenson – Jenson Group.
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Indigenous Land 
Acknowledgement
Meridian is on a journey to advance the Truth and Reconciliation 
Commission’s goals and assist in achieving the 94 Calls to Action. 
We respectfully acknowledge that the land on which we gather is 
the traditional territory of the Anishinaabe and Haudenosaunee. 
This territory is covered by the Upper Canada Treaties and is 
within the land protected by the Dish with One Spoon Wampum 
Agreement. From coast to coast to coast, we acknowledge the 
ancestral and unceded territory of all the Inuit, Métis and First 
Nations people across Turtle Island.
We continue to educate ourselves about the history of Indigenous 
peoples and the discrimination communities continue to 
experience today. 
It is our commitment to play an active role in economic inclusion, 
creating opportunities and influencing policies to ensure 
Indigenous communities have access to the financial services 
they need to meet their goals.

Meridian Credit Union
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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
About Meridian
Meridian is Ontario’s largest and Canada’s second largest 
credit union, with over 75 years of banking history. We help to 
grow the lives of our more than 360,000 retail and business 
Members as at December 31, 2022, carefully managing 
motusbank as well as our commercial equipment leasing 
and financing subsidiary, OneCap.
We are a 100% Member-owned financial institution that puts the 
well-being of our Members first. Our employees take the time to 
understand our Members’ financial goals and aspirations. This 
allows us to offer solutions that proactively meet their needs.
Our vision is to be recognized as an inclusive, transparent and 
people-focused financial partner. We centre on strategies that 
are in the best long-term interests of Meridian, our Members and 
other stakeholders, not short-term corporate earnings objectives. 
By doing so, we deepen relationships with existing Members and 
foster lasting relationships with new ones.

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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Meridian by the numbers1 
1  As of December 31, 2022.
360,000+
Members
2,043
Employees
15
Business Banking Centres
$26.2 billion
in Assets
$3.9 billion
in Assets Under Management
89
Branch Locations
100%
Owned by Our Members
Over 75
Years of Banking History
$3.4 million
Invested in Non-Profit and Community 
Investment Initiatives in 2022

About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Meridian Credit Union
2
2
2
2
2
2
2
2
3
3
3
4
4
4
5
7
19
Hamilton
London
Aylmer
Simcoe
Guelph
Mississauga
Cambridge
Toronto
Brampton
Richmond Hill
Markham
Barrie
Orillia
Owen Sound
Collingwood
Penetanguishene
Hanover
Port Elgin
Kincardine
Seaforth
St. Catharines
Niagara Falls
Virgil
Ottawa
Nepean
Kanata
Pembroke
Windsor
94
Locations Across 
Ontario
Meridian strives to be 
accessible through its digital 
and physical footprint, offering 
easy access to our financial 
advisors, planners and 
banking experts. We have retail 
branches and Business Banking 
Centres all across southeastern 
Ontario and beyond. 
With 89 convenient branches, 3 standalone 
Business Banking Centres, and 2 OneCap 
locations across Ontario, as well as 
access to over 3,000 ABMs through 
THE EXCHANGE® Network, it’s easy to 
find us. Explore branch and ABM locations 
by visiting our Find Us page.
Additional OneCap managed subsidiaries are located in the following 
Canadian cities: Burnaby, BC; Saint-Laurent, QC; Winnipeg, MB.
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2022 ESG Report

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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Our subsidiaries
“I’m excited about seeing our strategy take 
hold. This year was the year we spent a 
lot of time with our Board and with our 
Management team really working through 
things. What are the opportunities? Where 
are the problems? How could we be better? 
A lot of that will drive what changes inside our 
organization. A lot of things are going to be 
happening and I so love watching the very 
talented people in our company deliver on 
what we say we want to deliver.”
Jay-Ann Gilfoy
President & CEO
Meridian OneCap
Meridian OneCap Credit Corp., as a wholly owned subsidiary of 
Meridian, is one of Canada’s leading providers of commercial 
equipment financing for manufacturers, equipment dealers and 
end users. OneCap offers flexible and industry-tailored finance 
programs and solutions to small- and mid-cap companies that 
are not readily available from traditional financing sources.
OneCap is national, with regional offices and employees across 
Canada. Our approach is informed by a wealth of industry 
understanding and highly trained staff. OneCap provides creative 
solutions tailored to the unique needs of our customers. It is a 
market leader in providing financing to companies and industries 
transitioning to zero-carbon equipment solutions.
OneCap seeks to continually improve in operating as an inclusive, 
transparent and people-focused financing partner.
motusbank
motusbank, a wholly owned subsidiary of Meridian, is a full-
service digital bank, offering Canadians everything they need 
for day-to-day banking, including no-fee savings and chequing 
accounts, unlimited free Interac® e-transfers, loans and lines 
of credit, investments, mortgages and more. motusbank offers 
access to one of the largest no-fee ATM networks across Canada, 
along with security you can bank on.

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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Helping you achieve your best life
Meridian prides itself on being a good corporate citizen. It’s been 
at the heart of our business for more than 75 years. And while that 
philosophy has guided our ESG activities over the decades, until 
2022, we had not formalized a long-term strategy for measuring, 
managing and reporting on our initiatives.
After launching our inaugural report in 2021, we took our ESG 
work to the next level in 2022 and started making serious plans 
for Meridian’s future. Meridian for Good is our new corporate 
strategy, which was launched publicly at our Annual General 
Meeting in April 2023 and is introduced in this report on page 54. 
We will be sharing what this means for our Members, employees 
and communities in our next report. 
Our ESG Commitment
We are committed to offering our Members, employees 
and communities a place where diversity is embraced, and 
integrity, honesty, respect and openness are all encouraged. We 
support the transition to a sustainable future, building financial 
confidence, and providing access to products, services and tools 
that further our purpose to help our Members achieve their 
best life. We recognize our obligations to our stakeholders and 
the greater community, and the impact we have on the world 
around us, which is why we integrate ESG considerations into our 
decision-making processes. We apply cooperative principles to 
our strategy, governance framework and operations to enable 
value to be created and shared.
ESG at Meridian
Environment: We work to minimize 
the environmental impact of our 
operations, products and services.
Our pillars:
Environmental Stewardship
Social: We play an active role in the 
community and treat our employees, 
Members and suppliers fairly, 
equitably and respectfully.
Member Experience
Community
People and Culture
Governance: We consider long-term 
environmental and social impacts 
when making decisions and policies.
Governance and Responsible 
Management
E
S
G

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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Seven international cooperative principles
A cooperative is defined by the International Cooperative Alliance 
as “an autonomous association of persons united voluntarily 
to meet their common economic, social and cultural needs 
and aspirations through a jointly owned and democratically 
controlled enterprise.”
As outlined by the Alliance, we subscribe to the following 
seven principles:
1.	 Voluntary and open membership
2.	 Democratic member control
3.	 Member economic participation
4.	Autonomy and independence
5.	 Education, training and information
6.	Cooperation among cooperatives
7.	 Concern for community
Credit unions vs. banks
While the differences may seem simple, they are significant. At a 
bank, there is a distinction between customers and shareholders, 
who expect and profit from returns. But at a credit union, our 
customers, or Members, are also owners who get a say in how 
their credit union is run and collectively benefit from the successes 
achieved. Both financial institutions offer similar products and 
services, such as mortgages, wealth management products and 
business banking, but with a credit union, your money works hard 
for you, not shareholders.
“People kept saying to me they wanted to get 
back to our community roots, do the things we 
used to do and not focus on trying to be a bank 
like other banks.”
Jay-Ann Gilfoy
President & CEO

Meridian Credit Union
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2022 ESG Report
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$5
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About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Creating Value1
1  All metrics represented in this infographic are for the fiscal year ended December 31, 2022.
All of our stakeholders bring something to the 
table that matters to Meridian. Our success 
depends upon their contributions, and, in return, 
we are committed – through our strategy, 
corporate programs and ESG commitments, 
and investments and financial services – to 
creating shared value for our stakeholders.
Employees
Employees bring the benefit of 
their diverse perspectives, fresh 
ideas, skills and talent.
Value created: $215MM paid 
to employees in salaries and 
benefits; 76% overall employee 
experience score
Members
Meridian is 100% owned by our Members. Our Members are 
our business; they bring us opportunities and investments that 
help us grow as an organization.
Value created: $591.8MM of authorized loan facilities for 
3,040 small businesses; assisted 40,572 Members with home 
ownership by providing $12.3B in mortgages; $282MM invested 
by our Members in mutual funds with a responsible investing 
focus; 78% of Members agree that Meridian makes a difference 
in their overall financial wellness
Environment
Sustainable environmental 
practices will ensure our continued 
ability to live and work at home.
Value created: $300MM total 
assets under management 
(AUM) of green, sustainable and 
sustainability-linked products
Community
Our communities give us a place to call home. They offer 
diversity, engagement, relationships and places where we 
can contribute and flourish. We engage with equity-deserving 
communities that bring opportunities for business and personal 
banking relationships and open doors to new ideas and 
initiatives for us to participate in and grow.
Value created: $3.4MM total community investment; 
$1.9MM total corporate sponsorship spend; hired a
Director of Indigenous Relations; $1.2MM committed to 
Raven Indigenous Impact Fund II LP
Suppliers
Suppliers bring us their expertise 
and services, allowing us to 
conduct our day-to-day business.
Value created: 1,300+ suppliers 
included in Meridian’s supply chain

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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Meridian Credit Union
Q&A with Our Board Chair, Karen Farbridge
What was the focus of
Meridian’s ESG work in 2022?
Our attention in 2022 was intensely focused on building our 2023 
corporate strategy, Meridian for Good. The development of our 
strategy during the year was guided by a desire to ensure that 
we live our purpose in all that we do. Having that solid foundation 
on which to lay our building blocks sets us up for success.
What does it mean to be a 
cooperative organization?
There’s a difference in the corporate structure, in what it means 
and how it differentiates us from other financial institutions. It’s 
living the seven cooperative core principles and building them 
directly into our governance framework. Our approach has gone 
from simply being a cooperative financial organization that 
serves our Members to a cooperatively organized and driven 
Member-focused organization.
How did ESG evolve during the first
year of Jay-Ann Gilfoy’s leadership?
The first year can be challenging for a new CEO, but Jay-Ann 
quickly built up the support of everyone from senior leadership to 
the front line. That’s because she’s an inclusive listener who can 
weave together several complex issues while engaging people 
in conversation. She has good instincts and was ready to make 
some hard decisions while having the confidence and conviction 
to move things forward. But Jay-Ann would not have been able 
to make the progress that she did without an organization behind 
her that was eager to embrace purpose and ESG. Meridian’s 
desire to become a sustainability-focused organization and make 
ESG activities and initiatives a priority certainly helped her in 
bringing her vision for our credit union forward. 
Jay-Ann also had the advantage of an enthusiastic, dedicated 
and passionate group of employees who are willing to take on the 
challenge of helping our organization achieve environmental and 
societal change for the better. Meridian is so fortunate to employ 
people who are willing and able to advance our goals toward 
sustainability, the kind of people who have proven to be vital to 
our progress over the last year. And it’s not just about delivering a 
result. Jay-Ann knows when it’s time to regroup and reset, drive our 
ESG initiatives forward and bring Meridian for Good to life.
Why is a diverse Board of Directors
important to Meridian?
In today’s world, it is almost impossible not to live in an echo 
chamber, but making decisions outside that narrative is 
important. Having a diverse Board helps us step outside the 
chamber and understand what our Members are experiencing 
and living with. It also fundamentally allows us to make decisions 
with groups that have been historically marginalized, offering 
a wide range of demographics and opinions. Consequently, 
we make better decisions and get to think about things that we 
wouldn’t have thought of on our own.
Why is reconciling with the Indigenous 
community vital to Canada's future?
This is very different from normal diversity, equity and inclusion 
because this is an issue of nation to nation. Reconciliation is 
Canada’s story, and for Canada to ever truly achieve what we 
can as a country, we need to align on our truth and address 
reconciliation. This is more than good intentions and doing things 
that perhaps were well-intentioned but don’t have a positive 
impact. This is building trust, developing those relationships, 
listening, getting educated and establishing networks to 
become partners.

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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Message from the CEO
Welcome to Meridian’s 2022 ESG Report. I’m 
excited to bring you news of our hard work 
over the past year towards advancing our ESG 
goals. This year we also grew our leadership 
team by bringing in a new Chief People and 
Culture Officer. In addition, to support our work 
with the Indigenous community, we have hired 
a Director of Indigenous Relations to help us 
navigate this important relationship.
I am a firm believer that purpose and profit 
can coexist: an organization can be purpose-
driven and financially successful at the same 
time. We’re keeping our finger on the pulse of 
our communities and our Members; we are 
the right size to reach out and connect with 
people in ways larger financial institutions 
cannot because they are beholden to short-
term, quarterly returns, while we answer to our 
Members, our employees and our communities 
over the long term.
During my first full year as CEO, I wanted 
to focus strongly on our cooperative roots. 
Engaging our communities includes ensuring 
equity-deserving groups have access to 
the same financial opportunities as all other 
Canadians. For example, Meridian has 
been developing an important partnership 
with the Métis Nation, working to provide 
affordable housing. 
In conjunction with Habitat for Humanity, we 
provide safe, clean new housing for Indigenous 
communities and the financing needed to 
facilitate these projects. We accomplish this by 
working with Indigenous leaders, executing 
initiatives with them rather than making choices 
for them, which is vital if we want to build 
trusted connections. 
In 2022, Meridian became the largest certified 
living wage employer in the Province of 
Ontario. Our employees deserve to be making 
an income that allows them to live in the 
communities where we operate. When we talk 
about giving our Members the tools they need 
to live their best lives, we include the people in 
our organization’s front lines.
2022 has been a year of laying the foundation 
for our ESG programs and commitments. 
Working this last year with our Board and 
management on creating our ESG strategy 
has been exciting, and we will be sharing our 
new direction with you in our 2023 report, when 
we will unveil our new initiatives and share 
our successes as we embrace our corporate 
strategy, Meridian for Good.
Yours sincerely,
Jay-Ann Gilfoy
President & CEO
Meridian Credit Union
Meridian Credit Union
“Because we are a cooperative 
and because you bring your 
money to us as a depositor, that 
allows us to then lend that money 
out back into the community, 
which then allows us to grow, 
so it’s like a virtuous cycle 
of improvement.” 
MERIDIAN REFLECTIONS
The myth of ESG and 
responsible investing “risk”
There’s a common misconception that 
responsible investing (RI) is high risk; that 
RI portfolios have lower returns and it’s 
just a trendy fad. None of this is true. In 
fact, RI funds have existed for decades 
and can lead to better long-term financial 
performance and minimized overall risk. 
In conjunction with NEI Investments – a 
long-time leader in ESG/RI – we offer a 
range of viable investments. Through our 
collaborative ownership of Aviso Wealth – 
a leading wealth services supplier for the 
Canadian financial industry – we have an 
indirect stake in NEI Investments, delivering 
disciplined, active asset management. You 
can learn more about the myths and truths 
of RI by visiting the Responsible Investing 
page of our Wealth Management site.

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2022 ESG Report
Meridian Credit Union
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Meridian’s ESG Principles 
Our ESG mandate
We will…
Leverage our 
cooperative values, 
corporate knowledge 
and expertise credibly, 
authentically and 
transparently.
We will…
Support the long-
term sustainability of 
Meridian to serve its 
Members, customers 
and communities.
We will…
Consider the risks and 
direct and indirect 
impacts of our 
operations on people, 
the communities we 
serve and our planet. 
We will…
Communicate how 
these commitments 
are aligned with our 
purpose and strategy.
We will…
Ensure that our 
products and 
services are equitable, 
accessible and 
fairly priced.

Meridian Credit Union
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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Our ESG Priorities
Meridian is dedicated to making it possible for Members, 
employees and communities to commit to ESG principles and 
creating long-term value in a uniquely Meridian way. Starting 
in 2021, we engaged with an external consulting agency to 
identify and assess our ESG priorities, informed through a 
people, profit and planet lens. This work helped us identify what 
is material to Meridian’s business and where we will focus our 
energy concerning our ESG initiatives.
Through steps 1 and 2, we identified our top ESG priorities.
Steps 3 and 4 laid the groundwork for developing our ESG 
Commitment, principles and reporting.
Step One 
Identified current state by assessing industry peers 
and engaging with stakeholders.
This included assessing the leading practices 
of our main competitors and surveying internal 
stakeholders such as our Board, Executive 
Leadership Team (ELT) and Senior Leadership 
Team (SLT), and external stakeholders such as 
business and personal banking Members.
Step Two 
Determined ESG priorities. 
Based on industry research and input from all our 
stakeholders, we prioritized 13 topics that were 
material to our business and grouped them into 
our five ESG pillars.
PILLAR
PRIORITY ESG TOPICS
ENVIRONMENTAL 
STEWARDSHIP
Climate change
Resource management
MEMBER 
EXPERIENCE
Member/customer satisfaction 
and inclusion
Cyber security and data privacy
Sustainable finance and 
ESG integration
Digital technologies and innovation
COMMUNITY
Community investment
Financial confidence
PEOPLE AND 
CULTURE
Diversity, equity, inclusion, belonging 
and reconciliation (DEIBR)
Talent, engagement and well-being
GOVERNANCE 
AND 
RESPONSIBLE 
MANAGEMENT
Ethics and integrity
ESG governance
Sustainable procurement
Step Three
Completed a maturity assessment, guided by 
peers and priority ESG topics.
This was a scoring exercise used to assess the 
maturity of each ESG priority topic and rate 
its performance.
Step Four 
Established actions and a roadmap to achieve 
strategic priorities.
This exercise resulted in a set of recommendations 
used to create Meridian’s ESG program and was 
guided by best practices and value propositions 
for Members.
E
S
S
S
G

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2022 ESG Report
E
Meridian Credit Union
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Environmental 
Stewardship
In this section:
Our Climate Commitment
Managing Our Footprint

Meridian Credit Union
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2022 ESG Report
Meridian Credit Union
Earth Day cleanup near the Toronto Corporate Office 
with Meridian’s Quality Assurance team.
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Global warming and climate change are big concerns 
for us, and it may seem overwhelming to consider how 
we could possibly make an impact. By taking the time 
to get our own house in order through simple acts of 
reducing, reusing and recycling, being aware of our 
individual actions, and taking the necessary steps to 
change how we use resources, we can ultimately make 
a real difference.

Meridian Credit Union
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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Our Climate Commitment
Meridian aims to become a local climate leader in the financial 
sector by committing to:
•	 Aligning our spaces with our climate goals, reducing 
operational impacts, and contributing towards building 
thriving communities for Meridian’s Members, customers 
and employees.
•	 Ensuring all our emission sources are on pathways to net zero 
by 2050, or sooner.
•	 Committing to impactful climate policies and financially 
supporting the transition to a cleaner economy for business 
and individual Members.
•	 Communicating regularly with our Members, customers and 
the public about Meridian’s progress.

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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Managing Our Footprint
Greenhouse gas (GHG) emissions
In 2022, we focused on improving how we 
measure, manage and reduce Scope 1 and 2 
GHG emissions in our operations before we 
address Scope 3 GHG emissions. We are 
still working towards ensuring that all of our 
emission sources are on pathways to net zero 
by 2050, or sooner, by looking at initiatives 
that address both our operational emissions 
(Scope 1 and 2) and those resulting from our 
value chain (Scope 3).
Operational emissions (Scope 1 and 2)
Scope 1 and 2 GHG emissions are from building 
energy use, leased and owned. Overall, 
Meridian’s Scope 1 and 2 GHG emissions are 
low due to the nature of its operations as a 
financial institution, representing less than 1% of 
its overall emissions.
Emissions resulting from our value 
chain (Scope 3)
Scope 3 GHG emissions are from purchased 
goods and services, capital goods, waste 
generated in operations, transportation, 
business travel and investments. For Meridian, 
based on the Scope 3 screening exercise 
conducted in 2022, Scope 3 financed GHG 
emissions are most likely the main source 
of emissions, representing over 95% of total 
emissions. Other significant sources of Scope 3 
emissions include purchased goods and 
services and employee commuting.
Replacing and minimizing paper
We do our very best to minimize the amount of 
paper we use in our branches and corporate 
offices. As a financial institution, we know 
there are instances where we need to print 
or create documents. We were proud to 
see a reduction in Members receiving mail 
statements in 2022 as part of our eStatement 
Migration initiative. The initiative targeted 
active online banking users through email and 
splash communication, in-branch conversation 
and other incentivization to result in a lift of 
more than 10% for online statement usage by 
Meridian members in 2022.
2022 shredding data
Equivalency data for the weight of shredded paper collected and recycled by our vendor:
69
metric tonnes of paper collected 
by vendor
225,376 
kilowatthours of energy saved 
(the equivalent of running 
915 refrigerators per year)
2,763
kilograms of solid
waste avoided
1,827
trees preserved
547,620
litres of water saved

Meridian Credit Union
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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Updated branch and office 
energy efficiency measures
By maximizing energy efficiency at all our 
branch and office locations, we can work 
towards our goal of net zero emissions by 
2050. Steps we have taken in our branches 
and offices include: 
Existing window film or blinds in our 
branches and offices help regulate 
temperature and therefore reduce 
electricity usage.
Installation of programmable 
thermostats at all locations to help 
regulate temperature and therefore use 
less electricity. To be completed by the 
end of 2023.
Updating all owned locations with LED 
lighting through to the end of 2023.
Conducting ongoing engagement with 
landlords to understand steps they’re 
taking to manage the carbon footprint in 
facilities that Meridian leases.
Where environmental stewardship is going in 2023 and beyond
•	 Conduct a Scope 3 GHG emissions inventory to quantify the largest sources of our 
emissions across the 15 Scope 3 categories.
•	 Strive to improve our building emissions intensity by reducing our heating and energy 
consumption. We will conduct energy audits across our owned locations in 2023, which 
will be used to develop an action plan for operational emission reductions in 2024.
•	 Begin to build parameters around ESG-focused lending to our Members.
MERIDIAN REFLECTIONS
Equipment Leasing and Finance 
Association’s (ELFA) Climate Finance 
Working Group
ELFA’s annual conference allowed Meridian 
OneCap to participate in their inaugural 
meeting on climate financing. As a result 
of the meeting, Meridian OneCap now sits 
on ELFA’s Climate Finance Working Group. 
The mission of the group is to provide a 
forum for networking, best practice sharing, 
topical education and advocacy for climate 
finance opportunities in the industry.
OneCap set out to contribute to a cause 
close to the hearts of employees and 
display the company’s dedication to 
creating a cleaner environment for future 
generations. In 2022, OneCap committed 
to planting one tree per leasing transaction, 
and paid for 12,100 trees to be planted 
in total.
Status: Completed
Status: Ongoing

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S
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Member 
Experience
In this section:
Building Financial Confidence
Housing Affordability

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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Our Members are at the heart of everything we do, 
and ensuring we are constantly striving to provide 
the services and products people really need is how 
we share and create value. We want to be there for 
all our Members when they need us for information 
and advice. By helping our Members develop the 
skills they need to be financially confident and 
tailoring our offerings to the communities we serve, 
as well as hiring employees that reflect our diverse 
Membership, we can make sure Members feel 
supported and appreciated.
Earth Day cleanup in Brampton with the Bramalea and Sandalwood branch teams.

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2022 ESG Report
Building Financial Confidence
Meridian is committed to providing the 
knowledge to our Members that help them gain 
confidence and achieve their financial goals. 
That includes investing goals.
Currently, 90% of our full-time Financial 
Advisors have passed the Responsible Investing 
Association’s Responsible Investment Specialist 
(RIS) designation. The RIS designation is 
awarded to specialists who have completed 
courses designed to train wealth management 
professionals in the foundational topics of 
responsible investing (RI). This designation is a 
requirement for our full-time wealth advisors 
within their first year of promotion to the role. 
This affords them the training that helps them 
guide our Members through the benefits of RI. 
Responsible investing, also known as ethical 
investing, is an investment strategy that considers 
both the financial return and socio-economic 
benefit to social or environmental issues.
The training has been paying off for our 
Members. In 2022, we launched a Diversity 
Market-Linked GIC, the criteria being a 
representation of 30% women on the boards 
of the included companies. And our Members 
have expressed an interest in RI opportunities 
to the tune of approximately $282 million in 
RI mutual funds as at December 31, 2022, 
representing 9% of overall mutual fund assets 
at Meridian.
In addition, our branches regularly host 
seminars for first-time home buyers and 
those interested in learning more about 
wealth management and investing, providing 
information and strategies for helping Members 
achieve their best life and gain the confidence 
they need to create success.
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
“Confidence is a very subjective 
piece. Your financial confidence 
or my financial confidence are 
going to be very different from 
each other, and that’s okay! So, it’s 
meeting our Members where they 
are and providing the assistance 
that they value as they look to 
conquer whatever it is they want 
to conquer in life to achieve 
their goals.”
Wade Stayzer
Chief Operating Officer
MERIDIAN REFLECTIONS
Voice of the Member (VoM) 
VoM is a Member experience program 
that systematically collects and analyzes 
Member feedback to improve the Member 
experience. VoM programs are proven to 
help organizations understand the Member 
experience and to drive change. Member 
responses are used to identify pain points 
that disrupt the Member experience. 
Member feedback is translated into actions 
and plans for improvement. Results are 
tracked, measured and reported to key 
internal stakeholders regularly.

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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Housing Affordability
We believe everyone deserves a place to call 
home. Thanks to some key partnerships with 
non-profits and the Indigenous community, 
we are proud to help deserving Canadians 
with several initiatives aimed at creating 
new housing.
Habitat for Humanity sponsorship 
for affordable tiny homes
In November 2022, we announced a $100,000 
sponsorship with the Halton-Mississauga-
Dufferin Habitat for Humanity’s innovative 
Tiny Homes Pilot Program. The Meridian team 
worked alongside skilled trades students and 
Indigenous communities to build and establish 
affordable housing options for members of 
those Indigenous communities.
Tiny homes are specially built small dwellings 
that are much more affordable than traditional 
real estate and are, therefore, a great option 
for people looking to find a home who may 
otherwise be left out of the market.
The Tiny Homes Pilot Program was brought 
to Meridian’s attention by an employee, at 
the suggestion of her teenage daughter who 
had taken a construction course at one of the 
participating schools. Together, they inspired a 
group of Meridian employees to volunteer for a 
community-based tiny house build. 
The second phase of the pilot program began 
in the summer of 2022 with five tiny homes built. 
The homes were relocated to the Chippewas 
of the Nawash First Nation in Northwestern 
Ontario – three to families and two serving as 
emergency shelters. Five homes are scheduled 
for 2023.
The Small Business Big Impact 
Awards celebrate Ontario 
small businesses
Meridian gave community-minded Ontario 
small businesses a chance to win more than 
$65,000 in prizes. Now in their second year, 
the Small Business Big Impact Awards are 
designed to celebrate and recognize the 
positive impact of Ontario’s small businesses in 
their communities. Contestants were evaluated 
by an independent selection committee, based 
on quality of content, impact, business model, 
values and community support. Participants 
become eligible to win more than $65,000 in 
prizes, including cash prizes for the top three of 
$25,000, $15,000 and $5,000.
The awards have been a huge success, 
garnering 905 applications with 487 unique 
businesses in 2021. We saw an increase in 
2022 to 1,304 applications with 1,084 unique 
businesses. Our top 10 winners are a diverse 
group of businesses, with many owned by 
women and supporting the Indigenous, 
Black and LGBTQ communities.
Do Good Donuts does their 
community proud
The number one thing a donut can do, 
according to Melanie Cote, the founder of Do 
Good Donuts, “is make people really, really 
happy, because people love donuts.” She 
also knows that the humble donut can do far 
more than spread joy. With the right approach, 
Canada’s favourite snack can change lives. And 
that’s why she and her team took first place in 
the 2022 Small Business Big Impact Awards. 
Making fresh donuts requires a complex 
combination of tasks and techniques that 
prepare workers to take on a variety of jobs 
down the road, and that gives Do Good Donuts 
the perfect opportunity to provide real-world 
job skills to young adults with intellectual and 
developmental disabilities.
“A lot of companies want to provide 
opportunities for adults with disabilities, but 
they aren’t always set up to train people at 
the right pace,” says Melanie. “We fill the gap 
between having few skills and being ready to 
hit the ground running.”
Learn more about Do Good Donuts and our 
other finalists to see how our business Members 
are making an impact.
“The Small Business Big Impact 
Awards are a significant aspect of 
our outreach in the small business 
space. It gives us an opportunity to 
understand, mutually support and 
highlight those businesses doing 
good in our communities.”
Wade Stayzer
Chief Operating Officer

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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
“We are a financial institution. 
People bank with us and we 
provide good services. But 
because of the way we’re 
organized and because of our 
values, we want a fair deal for 
our Members. That’s one of our 
strategic pillars, so we have got to 
make sure that we deliver on that. 
It’s the starting point for a whole 
range of great things that we can 
hang our hat on as we engage 
in our core business of providing 
exemplary financial services.”
Karen Farbridge
Board Chair
Where Member experience is going in 2023 and beyond
•	 Meridian to offer loans to help small businesses pay back their Canada Emergency 
Business Account (CEBA). CEBA provided interest-free loans of up to $60,000 to 
Canadian small businesses and not-for-profits.
•	 Working with Business Development Canada (BDC), Meridian will pilot a loan 
program targeting equity-deserving groups to access capital, particularly in the 
small business space.
•	 Offering support to the Muslim community with Sharia investment options that are 
governed by the requirements of Sharia law and the principles of the Islamic religion.
•	 To assist us in our goal of providing affordable housing, we have invested in Canada 
Housing Trust Canada Mortgage Bonds.
MERIDIAN REFLECTIONS
Business Banking Members come 
together for Ukraine
In October 2022, we hosted a Business 
Member Appreciation Night to thank our 
business Members for partnering with us. 
We invited renowned Canadian-Ukrainian 
vocalist Chantal Kreviazuk to share her 
wonderful music with us as part of this 
celebratory evening. 
Meridian had already made a commitment 
to donate $10,000 to support Ukrainian 
relief through the Ukrainian World 
Foundation. However, there were to be a 
couple of surprises over the course of the 
evening, as two of our Business Banking 
Members made on-the-spot matching 
donations, bringing the evening’s total to 
$30,000. It was a wonderful evening, and 
so heartening to know that our Members 
share our concerns and are committed to 
giving back.

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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
S
Community
In this section:
Standing with Our Communities
Impact Investing 
Meridian IT Does ESG
The Good Neighbour Program
Volunteering in Our Communities

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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Being part of a community makes us feel secure 
and accepted. It’s the backbone of what makes a 
neighbourhood feel like home and where we not only 
live, work and play, but where we put down roots 
and create a future. Meridian understands this, and 
by actively participating in the communities where 
our Members reside, we, too, become a part of the 
local family.
Beamsville branch team celebrating Earth Day in Niagara with local scouts.

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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Community by the numbers
$338,053 
in employee donation matching
$1.4MM 
invested in social impact partnerships
3,682 
hours volunteered by employees in 2022
$1.9MM 
invested in corporate sponsorships
538
organizations supported
Standing with Our Communities
STORIES 
New to Canada – our Members support asylum seekers
At Meridian, we strongly believe in supporting our communities and people who are facing 
barriers. And we are especially grateful when our Members share and express those values 
through their own initiatives.
Canada is known as a multicultural and diverse country, welcoming refugees and asylum 
seekers looking to escape persecution, war and other atrocities in their home countries. 
When the Port of Montreal reached capacity for hotel rooms as temporary housing, the 
government reached out to third parties for assistance in finding other hotels that could 
assist them in this time of need.
The Fallsview Group – a long-standing Meridian business Member – saw this as an 
opportunity to do some good for the community and help refugees in need of assistance. 
Established over 35 years ago, the Fallsview Group has grown into one of Niagara’s 
hospitality and tourism leaders. Across their operations, they proudly employ over 
3,000 people, making their organization one of the largest in the region. 
“I am personally the son of two new Canadians, so for that reason alone, I felt it was 
important to help these people so they can live a good life,” says David Pietrangelo, Chief 
Financial Officer at the Fallsview Group. “The moment they arrived at our hotels we could 
see in their faces that we were doing the right thing for them. Everyone was so appreciative 
and grateful.” Between three of our properties, the Fallsview Group was able to find nearly 
875 rooms for between 3,000 and 4,000 refugees for six weeks.
In addition to providing rooms to those arriving from South America, Africa and Ukraine, the 
hotel dedicated a separate space where they could find a full buffet with food available just 
for them, rather than the typical boxed meals served to new immigrants when they arrive.
This is just one example of how our Members are doing great work in their communities 
and sharing the same dedication to helping equity-deserving groups live their best life. 
MERIDIAN REFLECTIONS
Meridian contributes to emergency 
relief for Canadians affected by 
Hurricane Fiona
Meridian responded quickly to the plight of 
eastern Canadians impacted by Hurricane 
Fiona in September 2022. A donation of 
$25,000 was made to the Canadian Red 
Cross to help in their efforts to deliver 
urgent relief, including interim housing, 
clothing, food and other essentials.
“We stand with family, friends and 
communities in Eastern Canada who are 
dealing with the devastation created by 
Hurricane Fiona,” says Jay-Ann Gilfoy, 
President & CEO of Meridian. “Our thoughts 
and hearts are with those impacted in a 
region known for its people’s generous 
spirit and resilience.”

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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Impact Investing 
Supporting climate, housing and Indigenous groups
During 2022, Meridian committed several millions of dollars to four impact investments aligned with our ESG priorities of affordable 
housing, environment, climate and equity-deserving groups.
FUND NAME
AMOUNT COMMITTED/FUNDED
FUND’S FOCUS
TAS Impact 
Development LP4
Committed $5 million July 5, 2022. 
Funded $600,000 in 2022.
•	 Invest in equity and equity-related securities related to urban 
residential, commercial and mixed-use development and 
repositioning sites, principally in the GTA and Hamilton area.
•	 Developing and repositioning assets that drive ESG impacts, 
including targeting net zero embodied and operating carbon 
emissions for the investment portfolio.
Dream Impact 
Fund LP
Committed $2.5 million August 23, 
2022. No capital calls received 
during 2022.
•	 Making cities and human settlements inclusive, safe, resilient 
and sustainable.
Climate Innovation 
Fund I LP
Committed USD $2.5 million 
June 28, 2022. Funded 
USD $828,642 in 2022.
•	 Seven key areas, including investment in growth-stage technology 
and service companies that seek to materially accelerate the 
decarbonization of the economy in the shortest possible timeframe. 
•	 Investments in the UN Intergovernmental Panel on Climate Change 
six sectors that account for all anthropogenic GHG emissions.
Raven Indigenous 
Impact Fund II LP
Committed $1.2 million 
December 9, 2022. No capital 
calls during 2022.
•	 Make equity and equity-related investments in Indigenous-owned/
led late-seed, early- and growth-stage social enterprises based in 
Canada and the U.S.
•	 Industry agnostic, backing innovative, scalable Indigenous 
enterprises at the forefront of advancing the well-being of 
Indigenous peoples.
Treasury investments
In addition to our impact investing, Meridian invests in financial 
instruments to support the treasury needs of the organization. 
Where possible, Meridian utilizes ESG-eligible investments to 
fulfil these requirements, including investment in Green, Social, 
Sustainable and Sustainability-linked bonds1. As of December 31, 
2022, Meridian has deployed over $45 million in Green and 
Sustainable bonds.
1  Green bonds: The funds from these bonds are committed to environmental 
or climate projects, such as investing in renewable energy.
Social bonds: The funds are committed to social impact projects, such 
as investing in low-cost housing for people with restricted access to the 
housing market.
Sustainability bonds: The funds are committed to a mix of social and green 
impact projects. These projects may also be aligned with the UN Sustainable 
Development Goals (SDGs).
Sustainability-linked bonds: Bond instrument for which the financial and/or 
structural characteristics can vary depending on whether the issuer achieves 
predefined sustainability/ESG objectives.

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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Meridian IT Does ESG
Skills Exchange for Good
In 2022, Meridian supported two community 
housing organizations through Skills Exchange 
for Good: the Kensington Market Community 
Land Trust (KMCLT) and Hamilton East 
Kiwanis Non-Profit Homes (HEKNPH). KMCLT 
was supported by a team of five employees, 
focused on helping them onboard a new HR 
and payroll software system.
HEKNPH was looking at a similar project, 
focused on new IT software programs, and was 
supported by five Meridian IT team members.
Through these projects, the partner non-profits 
benefited from Meridian’s employee expertise 
and were able to successfully launch their new 
projects; through Meridian's support, they 
avoided paying for additional headcount or 
consulting, redirecting funds to mission delivery. 
Meridian will be participating in this program 
again in 2023.
Renewing our technology
Through our partner, Renewed Computer 
Technology (RCT), a non-profit organization 
dedicated to empowering learners, educators 
and other not-for-profits with increased access 
to information and communications technology, 
Meridian donates our retired technology for 
reuse. RCT gives these donations new life by 
refurbishing computers, providing additional 
years of use. Data is securely wiped from every 
donated machine, preventing these devices 
from being sent to landfills. In 2022, Meridian 
donated 594 laptops, 153 desktops, six monitors 
and 17 keyboards.
The Good Neighbour Program
The Good Neighbour Program is Meridian’s local non-profit donation and sponsorship program. 
Through our branches, which make the decisions on investments in their communities, we forge 
partnerships with local charities, not-for-profits and public organizations working together to meet 
each community’s needs.
“Giving back to communities by 
donating our retired computer 
equipment is a win-win for 
everyone. We are keeping 
equipment out of our landfills 
and recycling facilities, while also 
providing access to technology to 
our local communities and higher 
education centres. This is totally 
aligned to the new Meridian for 
Good corporate strategy. It’s so 
satisfying to find out from our RCT 
partner where our equipment 
goes and the help it provides.”
Paul Kisil
Director, IT Infrastructure & Cloud Services
MERIDIAN REFLECTIONS
Good To Be Good (GTBG)
GTBG is a non-profit organization with 
a mission to serve those who identify as 
women from historically under-served 
communities. We helped support Change 
Make Her, an entrepreneurship 101 
educational program, by supplying a 
grant. Change Make Her provides access 
to knowledge, resources and mentors for 
future business owners who may normally 
have barriers to accessing high-quality 
information and mentorship. When the 
program concluded in 2022, more than 
90% of participants reported increased 
confidence in starting their own business.

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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Volunteering in Our Communities
Partnership with Kits for a Cause
Kits for a Cause supports non-profits by 
connecting charities across North America with 
groups and individuals looking to get involved, 
give back and make an impact. They provide 
all the materials needed for organizations to 
host kit-packing events. Kits can be for back-to-
school programs, hygiene, winter warmth and 
patient care.
In 2022, Meridian partnered with Kits for a 
Cause for two packing events, creating winter 
warmth kits for those who are facing barriers. 
These events were great team-building 
exercises and opportunities for employees at 
all levels to engage with the community. In total, 
Meridian packed more than 2,400 kits.
Working on financial education 
with the Ontario Physical and 
Health Education Association
As a financial institution, we firmly believe that 
everyone should have the opportunity to learn 
about managing their finances and become 
financially confident. And since it’s never too 
early to start your financial education, Meridian 
teamed up with the Ontario Physical and Health 
Education Association (Ophea), whose focus 
is to create groundbreaking programs and 
services for children and youth.
Meridian provided a grant for Ophea to build 
a financial education program for students 
between grades 2 and 8. Our grant gave them 
the opportunity to digitize the program and 
drive financial confidence for all Ontarians.
“I was going down a big long line with a bunch of other executives filling 
up kits with items that you would consider to be things that everybody 
should have; a pair of warm socks, a toothbrush. It really hits home that 
not everyone has the same privileges. It reinforces the importance of us 
doing the right thing for people.”
Jay-Ann Gilfoy
President & CEO
STORIES 
Sean Jackson Memorial Scholarship 
awarded to Guelph region student and 
community leader
Each year, in honour of Meridian’s former 
CEO Sean Jackson, the Credit Union awards 
$10,000 to one Ontario high-school student 
who has demonstrated both academic 
excellence and an outstanding commitment 
to building stronger communities. For 2022, 
we proudly named Guelph region resident 
Alexandra Elmslie as the Meridian Sean 
Jackson Memorial Scholarship recipient.
As someone with attention deficit 
hyperactivity disorder (ADHD), Alexandra 
uses her personal experience to offer tips 
and strategies for other students coping 
with similar challenges. Of all her self-
driven initiatives, she is most proud of her 
“Wellness 4 All” educational program, 
where she provided tailored mental health 
support to over 200 students with intellectual and
developmental disabilities across her school board.
“Providing love, support and encouragement for family, friends and your community is 
the most important thing you can do in life,” said Alexandra. “I am truly honoured to be 
a recipient of Meridian’s Sean Jackson Memorial Scholarship. I am excited to be able to 
pursue my education in an area that I am passionate about and will give focus to my 
commitment to community service in the years to come.”
Alexandra is pursuing a Bachelor of Science at Western University, where she plans to 
specialize in Developmental Cognitive Neuroscience.

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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Niagara 2022 Canada 
Summer Games 
The Niagara 2022 Canada Summer Games 
is the summer season portion of the Canada 
Games, a multi-sport event for amateur 
athletes. The games took place from 
August 6–21, 2022, in the Niagara region.
The Niagara 2022 Canada Summer Games 
welcomed athletes from across Canada who 
represent our national, international and Olympic 
and Paralympic champions. More than 5,000 
participants, 4,000 volunteers and countless 
visitors enjoyed 18 sporting events and over 250 
other events in the 55th year of the Games.
Meridian was proud to be the official sponsor 
of the Volunteer Program for the duration of the 
Games, where over 400 Meridian Members and 
nearly 100 of our employees volunteered over 
2,000 hours. In addition, Meridian and Niagara 
College co-sponsored Niagara 2022 Canada 
Summer Games Indigenous programming that 
included developing a unique cross-cultural 
experience through the sharing of traditions, 
songs, dances and craftsmanship of First 
Nations, Métis and Inuit Peoples. The Niagara 
2022 Canada Summer Games are not simply a 
sporting event; they made a $350 million impact 
on the Niagara community, supporting the 
promotion of sports in the region.
Where community is going in 2023 and beyond
•	 In 2023 and beyond, we will continue to focus on giving, ensuring our actions align with 
our vision as an inclusive, transparent and people-focused financial partner. We will 
accomplish this by mandating an equity lens be applied to all our granting decisions, 
focusing on equity-deserving individuals and communities in Ontario.
•	 In 2023, we will introduce four pillars to our social impact programs: housing affordability, 
community, climate resilience and financial access. These are the priorities on which we 
will base our funding decisions, now and in the future.
MERIDIAN REFLECTIONS
Pictured above are Julian Caverley and 
Emily Siebel with supporters in tow. Both 
Julian and Emily were selected to represent 
Meridian in the Niagara-on-the-Lake 
leg of the Niagara 2022 Torch Relay as 
Torchbearers. Julian was also the first 
recipient of adaptive sport equipment 
from the newly branded Meridian Play to 
Podium Fund through Parasport Ontario, 
which was presented by Wade Stayzer at 
the end of the Relay.

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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
People and 
Culture
In this section:
Introducing Our New Chief People 
and Culture Officer
Employee Engagement
Employee Wellness – Total Rewards
Diversity, Equity, Inclusion, Belonging and Reconciliation
Talent Attraction and Development
S

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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
We want Meridian to be more than simply a workplace; 
we want Meridian to be a community in and of itself, 
where our people feel welcome and belong. We aim to 
create a culture that is uniquely inclusive and accepting 
of everyone and provide the support, recognition and 
resources that help employees thrive.

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2022 ESG Report
Meridian Credit Union
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Introducing Our New Chief People
and Culture Officer, Patty Johns
As Meridian’s Chief People and Culture Officer, Patty is 
responsible for developing Meridian’s Human Resources vision 
and a multi-year strategy for creating an employee-centric 
flexible workplace that is relevant for today and the future. As 
part of her role, she oversees the design, delivery and monitoring 
of Meridian’s Employee Experience programs, including benefits 
design, talent acquisition and development programs for 
Meridian’s 2,000 employees. She also oversees the Corporate 
Communications team.
Patty brings innovation to Human Resource practices and 
employment brands. Her multi-faceted leadership experience 
includes organizational design, talent and succession, 
employee experience, compensation, pensions, benefits, 
payroll, employee relations, change management, technology, 
and workforce analytics.
“I’m pleased to see Meridian playing a 
leadership role in ESG. My personal philosophy 
is that there is a sense of environmental 
urgency, and I think it’s imperative to pay it 
forward to the next generation. I also love 
that Meridian is focused on helping equity-
deserving groups and that they are such an 
important part of our strategy.”
Patty Johns
Chief People and Culture Officer

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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Employee Engagement
Voice of Employee 2022
Meridian conducts employee surveys through the Voice of Employee program to better understand 
the employee experience and employee sentiment related to a multitude of metrics. Ensuring our 
employees are content with their work, compensation and leadership is how we create an engaging 
workplace. We partnered with Diversio, a Toronto-based company, to conduct a cross-sectional 
demographic survey to understand the effectiveness of our current diversity, equity, inclusion, 
belonging and reconciliation (DEIBR) programs and practices.
Results of the 2022 Employee Experience survey continue to show that Meridian is meeting the 
expectations of our people and maintaining a welcoming, inclusive working environment. Here is 
what our employees had to say about their immediate manager:
We were glad to see employee participation 
rates of between 85% and 87% for our employee 
sentiment surveys. There were also strong 
scores in both the Employee Experience survey 
(76%) and Culture survey (80%), and compared 
to internal survey benchmarks, Employee 
Experience increased by 1% from 2021 and 
Culture by 3%.
Other key takeaways from the survey include:
•	 70% well-being score, reflecting on the 
continued enhancement and focus on well-
being programs and practices.
•	 71% expressed satisfaction with the Senior 
Leadership Team.
•	 76% overall favourability score, 
demonstrating that we can positively 
impact the employee experience with 
focus and intention.
On average, 94% of employees are actively 
enrolled in our iApplaudu recognition 
program, which provides the opportunity to 
give and receive peer-to-peer and leader-
led recognition. In 2022, 92% of employees 
were recognized in the program, with 46% 
of employees recognized by Executive and 
Senior Leaders.
90%
I believe my immediate 
manager leads by example 
87%
I believe my manager takes time to 
connect with me on a personal and 
professional level
92%
I believe my manager and I have 
positive interactions with one 
another on a consistent basis 
91%
I believe my immediate manager/
supervisor clearly communicates 
what is expected of me
“Our Voice of Employee program 
signals and measures what is 
important to employees. Metrics 
are selected based on what is 
imperative to our culture and the 
experience we want to create for 
employees. This program, rooted 
in employee sentiment and 
feedback, holds us accountable 
and offers a pipeline to critical 
employee feedback, enabling us 
to continually evolve the employee 
experience. This year, our annual 
Culture survey garnered an 
overall score of 80% favourability, 
indicating that employees feel 
positively about our culture.”
Claudine Chess
Vice President, Talent, Learning, 
Culture & Change

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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Employee Wellness – Total Rewards
As part of the Employee Experience survey, 
we ask for feedback annually to gauge the 
effectiveness of our Total Rewards program. 
As the pandemic changed how we work and 
live, Total Rewards’ needs have also evolved, 
such as additional mental health resources 
to support our employees. We increased our 
mental health benefit to $5,000 per year to 
meet this need.
As a bonus in 2022, every employee under 
the Vice President level was awarded a one-
time payment to thank them for their support 
and commitment to the organization over 
the last few challenging years and to provide 
additional support during the tough economic 
climate. For the Vice President level and above, 
donations were made on employees’ behalf to 
support equity-deserving communities. Three 
beneficiaries were chosen, each laddering up 
to one of our four community pillars (DEIBR, 
access, affordability and climate). The three 
organizations selected were Good To Be Good, 
Tree Canada and Habitat for Humanity.
Becoming a certified living wage 
employer in Ontario
We take employee health and well-being 
seriously. That includes providing salaries that 
support our employees and enable them to 
live their best lives. We partnered with the 
Ontario Living Wage Network to implement 
a living wage for all employees. The Network 
establishes the criteria and calculates living 
wage rates across Ontario’s various geographic 
locations. By ensuring that our employees 
have income above the poverty line, we have 
become the largest certified living wage 
employer in Ontario. 
“In 2022, Meridian made the 
decision to increase the mental 
health employee benefit to 
$5,000 per year, which was very 
well received by everyone. This 
is a really excellent investment 
in our people, and it sends a 
really strong message about 
the importance of employee
well-being and making sure 
employees have the support 
they need for mental health–
related concerns or issues.”
Patty Johns
Chief People and Culture Officer
MERIDIAN REFLECTIONS
Introducing the People and 
Culture Dashboard
In 2022, we introduced a new way to 
align leadership and the Board on 
important talent indicators. Our People 
and Culture Dashboard highlights what 
we are doing well and acts as an early 
warning system for trends, which has 
helped us identify gaps in our employee 
processes and programs. For example, we 
started to notice high turnover in first-
year hires. We created the Meridian Retail 
Academy to address and rectify this issue 
for onboarding new hires, in particular 
frontline workers in our branches. The 
program improved retention and received 
an overall employee satisfaction rating of 
4.4/5. Details about the Academy can be 
found on page 38.

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  37
2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Diversity, Equity, Inclusion, Belonging 
and Reconciliation (DEIBR)
Employee Resource Groups – 
Advancing workplace DEIBR 
at Meridian
Employee Resource Groups (ERGs) are 
voluntary, employee-led groups that foster 
a diverse, inclusive workplace aligned with 
organizational purpose, values and goals. 
ERGs do this by creating a welcoming 
workplace for everyone and focusing on the 
experience and perspectives that make 
Meridian employees unique.
In 2022, we put strong emphasis on developing 
the ‘R’ – reconciliation – of our DEIBR strategy, 
starting the conversation on reconciliation 
and focusing on spreading awareness and 
education to make Meridian a welcoming 
place for our Indigenous employees where 
they can thrive.
Our ERGs
M-MOSAIC
Our mission is to foster an atmosphere of 
inclusivity within our organization, allowing 
M-MOSAIC to be heard, seen and represented 
both within our Meridian group of companies 
and the communities we serve. With a focus on 
education, M-MOSAIC allows Black, Indigenous 
and people of colour to be understood, 
embraced and celebrated, which is key to 
enabling, encouraging and empowering 
employees to bring their full selves to work.
M-WIL
Meridian Women in Leadership (WIL) is an open 
grassroots community focused on educating, 
engaging and empowering women at Meridian 
to lead with conviction and confidence. WIL 
provides a comfortable forum where everyone 
plays a part. By “keeping it real,” we have fun 
while building programs that enable women 
to form strong connections and develop their 
leadership skills.
M-Proud
We have built an inclusive community to foster 
networking, collaboration, education and 
awareness in order to provide a safe space 
to share different perspectives on celebrating 
acceptance of the 2SLGBTQ+ community within 
the Meridian Enterprise and in support of the 
Members/communities we serve.
M-Access
We are cultivating an environment where 
employees with disabilities – visible or invisible – 
can bring their authentic selves to work, 
empowered by the support they receive from 
Meridian and their fellow employees. By 
promoting and improving access to employee 
support resources, we are helping to break 
down barriers to inclusion through education 
and change. Contributing to workplace diversity 
makes Meridian more enjoyable and supports 
our communities.
MERIDIAN REFLECTIONS
The 4 Seasons of Truth and 
Reconciliation and the 94 Calls 
to Action
To help our employees understand and 
connect with Indigenous reconciliation, we 
provided access to an online course from 
the First Nations University of Canada. The 
course offers an unbiased educational 
opportunity and introduces people to the 
94 Calls to Action, advancing the goals of 
the Truth and Reconciliation Commission. 
The 94 Calls to Action are actionable 
policy recommendations meant to aid the 
healing process by both acknowledging 
the truth of the residential school system 
and creating ways to prevent these abuses 
from ever happening again. We had 70% of 
our employees complete the 4 Seasons of 
Truth and Reconciliation course.

Meridian Credit Union
  38
2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Talent Attraction and Development
Focus on recruitment
We expanded our recruitment partnerships in 2022 to include the 
YMCA, New Immigrants to Peel and Career Edge, a recruiter that 
connects Canadians through a proven paid internship model. 
Through Career Edge alone, we found 13 individuals – who were 
new immigrants to Canada – with previous skill sets that allow 
them to advance their careers in Canada rather than accept 
work that does not reflect their skills and abilities.
We also introduced a presentation for managers related to 
impactful interviewing. The Road to Understanding the Ontario 
Human Rights Code in Recruitment was developed for leaders 
to help them understand how to navigate conversations and 
appropriate questions to ask candidates. In addition, for all 
employees, we launched unconscious bias training that included 
a focus on unconscious bias as it relates to hiring practices.
Supporting continuous development
Meridian is committed to supporting continuous development 
for employees. We offer a range of learning opportunities that 
increase employees’ knowledge and skills, advance their careers, 
and drive success. Our 2022 initiatives included:
•	 Tuition assistance: We encourage employees to take 
ownership of their professional development and enable 
them to take courses or pursue a designation. Annual financial 
assistance is available to support employees in their quest for 
skills that help enhance their performance and support their 
career advancement.
•	 Retail Academy: In 2022, the Learning and Development team 
created a Retail Academy for all retail Member-facing roles. 
This onboarding program is comprised of formal learning, 
practical skills labs, case studies, on-the-job tasks and social 
learning seminars. The Retail Academy enables leaders 
to support new hires with observational coaching and has 
connected employees through a mentorship-style approach 
to learning.
•	 Career development: All employees are encouraged to 
have an Individual Development Plan and to participate 
in courses offered through our virtual and self-paced 
Learning Management System, with more than 700 learning 
opportunities. Employees can also seek development 
opportunities such as participation in secondments, 
mentorships and job shadowing.
Where people and culture is going in 
2023 and beyond
•	 We will continue to shape our culture with intention, 
ensuring we hear our employees through our Voice of 
Employee program to influence outcomes.
•	 We will continue to invest in our talent with 
opportunities for exciting work and ensure we work 
with every employee to create a personalized and 
fulfilling development plan.
•	 We will continue to build innovative reward, well-
being and recognition programs aligned with the 
marketplace and our unique strategy and focus.
•	 We will continue to focus on flexibility. Meridian has 
officially adopted a hybrid working arrangement 
providing options for employees.
•	 We will recruit and retain diverse candidates and 
proactively build internal and external pipelines for 
in-demand and future skills.
•	 We will advance our DEIB journey by including ‘R’ 
for reconciliation, serving to remind people of our 
focus on making Meridian a welcoming place where 
Indigenous employees can thrive.
•	 We are gathering data from the 2022 review of our 
Total Rewards program to help understand and 
assess what is working and what can be changed 
or enhanced. This important work and resulting 
recommendations will begin in 2023.

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  39
2022 ESG Report
G
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Governance and 
Responsible 
Management
In this section:
Corporate Governance
ESG Governance
Risk Management

Meridian Credit Union
  40
2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
As a credit union, our approach to governance and 
responsible management is differentiated from that of 
a standard financial institution. We are accountable to 
our Members, not shareholders. This difference shapes 
our decision-making processes, emphasizing a more 
democratic approach in all we do. That includes ESG 
and how we incorporate our values and principles into 
our words and actions.

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  41
2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Corporate 
Governance
Meridian’s Board of Directors works closely 
with senior management to set and monitor 
Meridian’s performance and direction. The 
Board is responsible for setting policies 
and governing activities in accordance with 
Meridian’s by-laws and the Credit Unions and 
Caisses Populaires Act, 2020 (CUCPA, 2020), and 
other applicable legislation and regulations. 
Specific duties include:
•	 Establishing strategic direction and 
performance expectations;
•	 Hiring, and delegating authority to 
and assessing the performance of, the 
President & Chief Executive Officer;
•	 Monitoring Meridian’s performance and 
approving the financial plan;
•	 Communicating with Members and 
stakeholders, and providing leadership by 
supporting and promoting Meridian; and
•	 Monitoring and ensuring appropriate and 
effective governance of Meridian, including 
development of directors.
Board diversity
58%
of Meridian’s Board have
self-identified as women
17%
of Meridian’s Board have self-
identified as belonging to racialized 
or ethnic groups
Board certification
67%
of Meridian’s Board have 
professional certifications
83%
of Meridian’s Board have 
director certifications
Tenure on Meridian’s Board of Directors1
1  As of December 31, 2022.
The maximum term limit for 
a Director is 12 years, and 
the average Board tenure of 
the current Board is 4.6 years.
	
0–3 years
	
4–6 years
	
7–9 years
	
10–12 years
Annual Board required education
of Meridian’s Board have 
completed the designated 
mandatory education courses 
covering the Code of Ethics,
anti-money laundering & anti-
terrorist financing, cyber security 
and privacy.
Meridian has a robust mandatory 
annual Board education program 
that includes completing training 
modules covering the Code of 
Ethics, anti-money laundering & 
anti-terrorist financing, cyber 
security and privacy.
100%
25%
8%
17%
50%

Meridian Credit Union
  42
2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Board of Directors and Committees
Karen Farbridge, C.Dir
Board Chair
Member: Governance Committee,
Human Resources Committee,
Nominating Committee
20151 
Stacey Grant-Thompson
Director
Member: Governance Committee,
Nominating Committee
2022 1
Hari Panday, ICD.D, NACD.D, FCPA, FCA
Governance Committee Chair
Member: Audit & Finance Committee, 
Governance Committee
2020 1
Jacqueline Beaurivage, ICD.D, CMC
Director
Member: Governance Committee,
Human Resources Committee
2020 1
Gail Harding, ICD.D, KC
Risk Committee Chair
Member: Nominating Committee, 
Risk Committee
2019 1
Tamara Paton, C.Dir, CFA
Human Resources Committee Chair
Member: Human Resources Committee, 
Risk Committee
2013 1
Ian Cunningham
Nominating Committee Chair
Member: Nominating Committee,
Risk Committee
2020 1
Lianne Hannaway
Director
Member: Audit & Finance Committee, 
Nominating Committee
2022 1
Mike Valente
Director
Member: Audit & Finance Committee,
Risk Committee
2017 1
Larry Doran, ICD.D, P.Eng
Director
Member: Governance Committee, 
Risk Committee
2014 1
Suanne Nielsen, C.Dir, CHRE
Director
Member: Audit & Finance Committee,
Human Resources Committee
2021 1
Bruce West, C.Dir, FCPA, FCA
Audit & Finance Committee Chair
Member: Audit & Finance Committee, 
Human Resources Committee
2018 1
1  Indicates year the Director was first elected.

Meridian Credit Union
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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Orientation and continuing education
The aims of Meridian’s Director orientation and education 
programs are to ensure Directors have the knowledge, information 
and tools they need to carry out their Director responsibilities and 
support Meridian’s success. Orientation for new Directors includes 
meetings with the Board Chair, CEO and Committee Chairs, and all 
Directors are invited to attend. Education sessions focus on topics 
considered particularly important in light of the evolving business 
and disruptive forces faced by Meridian. All Board members 
are invited to attend committee education sessions. Meridian’s 
education program maintains an ongoing listing of educational 
opportunities of value to Directors.
Board of Directors education sessions:
•	 Environmental, Social & Governance: Greenhouse Gas 
Emissions, Net Zero & Climate Commitments
•	 Indigenomics
•	 Mental Health
•	 Code of Ethics
•	 Cyber Security
•	 Anti-Money Laundering & Anti-Terrorist Financing
•	 Privacy
In addition, Meridian’s Board participates in education sessions 
at the committee level on topics specific to committee matters.
In 2022, the following Directors included an ESG certification in 
their individual development plan:
Karen Farbridge 
Certificate: Competent Boards 
ESG Designation Program
Bruce West 
Certificate: Competent Boards 
ESG Certificate Program
Suanne Nielsen
Certificate: Berkeley Law: 
ESG – Navigating the 
Board’s Role
Larry Doran 
Certificate: Osgoode Hall Law: 
Certificate in ESG, Climate 
Risk & the Law
Hari Panday 
Certificate: NACD Climate 
Continuous Learning 
Jacqueline Beaurivage 
Certificate: ICD: Board 
Oversight of Climate Change 
Certification
Gail Harding 
Certificate: Competent Boards 
ESG Designation Program
Monetary Board fines or sanctions due to 
non-compliance with laws and regulations
Zero
monetary fines or sanctions due to non-compliance 
with laws and regulations
Meridian’s Board has implemented corporate governance 
policies and practices that provide the foundation for 
ensuring that Meridian is always adhering to statutory 
and regulatory requirements.

Meridian Credit Union
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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Board initiatives in 2022
2022 was an exceptional year for Meridian’s Board, as it worked 
through onboarding a new CEO and two new Board members; 
completing the development of a new three-year strategic plan; 
overseeing the development of a new ESG policy; increasing 
its focus on DEIBR; and continuing a comprehensive executive 
compensation program review.
In 2022, Meridian’s Board further enhanced its corporate 
governance practices by implementing and continuing the 
following initiatives:
•	 Ensuring the alignment of Meridian’s corporate governance 
framework to the CUCPA, 2020 and the new rules enacted by 
the Financial Services Regulatory Authority of Ontario (FSRA);
•	 Approving a new Code of Market Conduct Board Policy 
and overseeing the implementation of Meridian’s new
Market Conduct Code;
•	 Overseeing the development of Meridian’s regulatory 
compliance framework;
•	 Enhancing financial reporting on treasury operations;
•	 Enhancing oversight of the integrity of internal controls and 
financial reporting;
•	 Strengthening Board oversight of data governance, innovation, 
technology and business transformation;
•	 Increasing the Board’s focus on DEIBR by creating an 
inclusive Board environment and allocating more time to 
DEIBR discussions and education on Board and committee 
meeting agendas;
•	 Maintaining strong oversight of subsidiary governance through 
enhanced reporting;
•	 Overseeing the development of a formal Board Chair 
succession framework;
•	 Engaging with a new external advisor to enhance the 
Board nomination process; and
•	 Introducing formal communications and updates by 
management in between Board meetings.
Subsidiary governance 
Meridian has two material subsidiaries, Meridian OneCap Credit 
Corp. and motusbank. The Board’s Subsidiary Governance Policy 
ensures that appropriate levels of governance and oversight 
are embedded in our subsidiaries, aligning with their respective 
businesses and the parent company’s expectations. The Policy 
establishes an enterprise-wide approach to the governance 
of Meridian’s subsidiaries. This Policy is responsive to evolving 
legal and regulatory requirements, regulator expectations 
and subsidiary governance practices. In accordance with the 
Subsidiary Governance Policy, three Directors of the Meridian 
Board also serve as independent Directors on the motusbank 
Board of Directors. The Board of Meridian OneCap Credit Corp. 
comprises executive management members who provide reports 
to Meridian as a standing item at each Board meeting.

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  45
2022 ESG Report
Status: Completed
Status: Ongoing
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
ESG Governance
Update on the Board’s ESG framework
In 2022, Meridian’s Board made substantial progress in 
Meridian’s ESG journey. The Board set ESG priorities and 
integrated them into the development of the new strategy. 
Key advancements were:
•	 Developed a new Board policy on the Board’s oversight 
of ESG.
•	 Approved Meridian’s ESG Commitment and 
Climate Commitment.
•	 Oversaw Meridian’s first assessment of GHG
Scope 1 and 2 emissions.
•	 Oversaw the development of Meridian’s inaugural
2021 ESG Report – Value Created and Shared.
Enterprise ESG Working Group
To integrate ESG into business operations at Meridian, we formed 
an enterprise-wide ESG Working Group in 2021. Its role is to 
define and gather data aligned with our five pillars to inform our 
2022 ESG report. These pillars were put forward to Meridian’s 
leadership as areas of focus, along with a strategy and working 
plan for defining ESG at Meridian.
The seven-part Meridian ESG Action Plan for the ESG Working 
Group includes:
Educating around ESG and communicating to internal 
stakeholders the need to implement ESG considerations 
into business operations at Meridian.
Aligning ESG integration with Meridian’s purpose and the 
strategy work currently underway.
Creating an internal and public-facing ESG Statement and 
guiding principles for this work.
Creating an ESG integration plan for Meridian following 
engagement with third-party consultants in materiality 
and GHG inventory assessments.
Developing a 2021 data-informed baseline report by 
identifying, collecting and measuring ESG efforts at Meridian.
Issuing Meridian’s Climate Commitment and inaugural 
2021 ESG Report.
Identifying gaps and opportunities, developing activities and 
programs to inform ESG at Meridian on an ongoing basis, 
and reporting back year over year.
The Working Group has adopted a scorecard approach, 
following best practices in the financial services industry. 
This report includes a scorecard starting on page 49 to apply 
the Global Reporting Initiative (GRI) and Sustainability Accounting 
Standards Board (SASB) standards, which guide us in addressing 
select management and measurement disclosures.
Having issued the first baseline report based on 2021 data, the 
ESG Working Group has identified gaps and opportunities and 
further developed activities and programs to expand ESG at 
Meridian annually, reporting back and outward year over year.

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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Risk Management
Anti-money laundering and 
anti-terrorist financing
As a financial institution, Meridian is required to comply with the 
Proceeds of Crime (Money Laundering) and Terrorist Financing 
Act (and associated regulations) among other laws and 
regulations. These generally require that Meridian take certain 
prescribed or risk-based measures to attempt to detect and 
deter the abuse of its products and services to facilitate money 
laundering and/or terrorist financing.
The negative effects of money laundering can be felt directly 
by our Members and within our communities. When crime is 
profitable, it proliferates. ‘Street’ crime, financial crime and 
organized criminal activities are all profit-driven and impact 
everyone in our communities directly and indirectly. Some 
examples include:
•	 Increases in profit-driven crimes, like drug or human 
trafficking, result in commensurate increases in violent crime 
within our communities. 
•	 Opaque legal structures that hide the identity of the persons 
who own and control these companies enable all manner of 
crime, including public corruption.
•	 Illegal tax evasion schemes result in higher rates of taxation for 
all honest taxpayers to cover those losses.
•	 Infiltration by organized criminals into the legitimate economy 
increases the hardship felt by honest entrepreneurs who are 
forced to do business or compete unfairly with businesses that 
are owned and/or controlled by organized crime that benefit 
from their illicit business practices.
•	 The use of the proceeds of crime, domestic and foreign, to 
purchase land and homes is believed to have had a material 
and negative impact on housing affordability in markets 
across Canada by artificially inflating the legitimate market.
•	 As money laundering is, by its nature, part of the underground 
economy, its impacts are difficult to quantify; inaccurate 
economic data results in poor and even harmful economic 
policy decision-making by governments and regulators.
Beyond its obligations to comply, Meridian has decided to make 
its anti-money laundering and anti-terrorist financing program 
an operational priority, investing material dollars and other 
resources into the development and maintenance of its program, 
and to adapt it to the ever-evolving risk landscape in which 
Meridian operates.
Fraud management and corporate security
Financial crime impacts not just the direct victim but also the 
communities in which they live, by providing funds for criminal 
elements to perpetuate criminal behaviour and further criminal 
acts. The Fraud Management & Corporate Security (FMCS) 
team supports Meridian’s broader commitment to communities 
and its Members through a number of initiatives and methods 
aimed at disrupting financial crime. Examples include training, 
education and resources to support Members’ financial 
confidence, financial safety, and protection from financial 
crime more broadly. While each situation is different, FMCS 
engages with employees, Members, law enforcement and other 
government agencies as appropriate to provide guidance and 
recommendations to help curb criminal activity. In addition, 
FMCS actively engages with the community, industry and other 
stakeholders to identify emergent threats and risks that may 
impact Members and works with internal partners to continue to 
enhance the FMCS program.

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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Managing cyber risk – 
two-factor authentication
Managing, protecting and securing our 
Members’ personal and financial information 
is paramount to our processes. That means 
ensuring we strictly manage information 
security on our digital platform and restrict 
access to Member Accounts. To effectively 
accomplish this, two-factor authentication to 
online banking will be mandatory for all retail 
Members by the end of 2023.
Two-factor authentication is a security protocol 
that requires two separate and distinct forms 
of identification to access anything online. Most 
commonly, this involves a secured password, 
and is confirmed with a text to your smartphone 
or biometrics using your fingerprint, face 
or retina.
With two-factor authentication, attempted 
fraud and the associated costs drop 
dramatically, which is why it has become the 
industry standard.
Building resiliency
As elements of 2023’s financial challenges began to develop in 2022, we saw inflation, high interest 
rates, labour shortages and compromised supply chains. It was time to stress test our portfolio, and 
that required clear communication with our Members, as they need to tell us how they are doing to 
help us craft comprehensive solutions.
Coming out of Covid requires new business models based on new cost structures, and it is important 
for us to work with risk officers from other financial institutions across the country for us to be able to 
keep our pulse on the financial realities we all face.
Where governance is going in 2023 and beyond
•	 2023 will be another exciting year for the Board as they oversee the advancement of the Meridian for Good strategy; strengthen the Member 
engagement strategy; mature ESG integration at the Board committee level; and continue Board evolution.
•	 The Enterprise Risk Management group is developing Meridian’s Recovery and Resolution Plans in line with recent FSRA regulatory 
requirements, contributing to both the security of Member deposits and the safety and soundness of the financial system.
•	 From a risk perspective, we will be looking at the world through a wider lens in order to consider geopolitical issues that could have an impact 
on us or our Members.
MERIDIAN REFLECTIONS
Moving to the cloud
“Cloud First” is a fundamental aspect 
of Meridian’s IT strategy. This premise 
outlines that IT should first seek to leverage 
commodity cloud services over specialized 
internal installations where financially and 
operationally advantageous. Moving to 
the cloud has its benefits, such as reducing 
our resource, maintenance and physical 
footprint in addition to the ability to 
optimize workloads.

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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Performance
In this section:
ESG Scorecard
2023 and Beyond – Introducing Meridian for Good

Meridian Credit Union
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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
ESG Scorecard
1	
Meridian has engaged an external consulting agency to guide us on alignment with the selected GRI and SASB disclosures. These metrics are material to our organization and the metric objective highlights how they tie into our pillars. As we work towards 
enhancing our disclosures in future reports, we will seek to align with additional GRI and SASB metrics, where relevant.
2  Our 2021 totals have been updated to reflect propane usage at one of our branches.
The ESG performance metrics presented in this scorecard reference the new GRI Universal Standards and the 2018 SASB Asset Management & Custody Activities standards.
OBJECTIVE
TOPIC
METRIC
2021
2022
GRI INDICATOR1 
SASB INDICATOR1
ENVIRONMENTAL STEWARDSHIP
Accelerate transformation to 
reduce our carbon footprint 
and support the transition to 
a cleaner future.
GREENHOUSE GAS EMISSIONS2 
Absolute GHG emissions from our operations 
(Scope 1 and 2)
 Tonnes CO2e
1,263
1,336
305-1, 305-2
Average emissions intensity
 kg CO2e/ft2
2.93
3.22
ASSET MANAGEMENT
Total assets under management of green, 
sustainable and sustainability-linked products
Canadian dollars
$284,258,032
$300,943,522
203-1
FN-AC-410a.1
E

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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
OBJECTIVE
TOPIC
METRIC
2021
2022
GRI INDICATOR1 
SASB INDICATOR1
MEMBER EXPERIENCE
Ensure responsible, ethical and 
prudent management of our 
Members’ assets.
ECONOMIC VALUE DISTRIBUTED
Total deposits
Canadian dollars
$16.9 billion
$18.5 billion
201-1
Total assets
Canadian dollars
$24.1 billion
$26.2 billion
201-1
Total assets under management (AUM)
Canadian dollars
 $4.2 billion
 $3.9 billion
201-1
Help Members live their best life by 
being an inclusive, transparent and 
people-oriented financial partner 
that supports financial confidence.
MEMBER WELL-BEING/FINANCIAL WELLNESS2
Members who agree Meridian Credit 
Union makes a difference in their overall 
financial wellness
Percentage
75.8%
78.0%
LOANS
Total value of new loans approved for 
small businesses
Canadian dollars
$125,693,000 
$119,897,184 
Total value of loans and leases below $500k3 
Canadian dollars
$615,198,629
$866,543,561 
1	
Meridian has engaged an external consulting agency to guide us on alignment with the selected GRI and SASB disclosures. These metrics are material to our organization and the metric objective highlights how they tie into our pillars. As we work towards 
enhancing our disclosures in future reports, we will seek to align with additional GRI and SASB metrics, where relevant.
2  Metric is based on Member responses from Relationship Survey results.
3  Metric applies to Meridian OneCap only.
S

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2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
OBJECTIVE
TOPIC
METRIC
2021
2022
GRI INDICATOR1 
SASB INDICATOR1
COMMUNITY
Support the economic and social 
development and vitality of the 
communities in which we operate.
COMMUNITY IMPACT
Community investment
Canadian dollars
$2,348,463 
$3,402,181 
Invested in social impact partnerships 
Canadian dollars
$807,663
$1,458,581
Employee donation matching 
Canadian dollars
$360,057 
$338,053 
201-1
Employee volunteer hours
Hours
2,454
3,682
413-1
Organizations supported 
Number
411
538
CORPORATE SPONSORSHIPS
Retail spend
Canadian dollars
$1,235,711
$1,312,514
201-1
Community spend
Canadian dollars
$627,856 
$666,257 
201-1
Total
Canadian dollars
$1,863,567
$1,978,771
201-1
1	
Meridian has engaged an external consulting agency to guide us on alignment with the selected GRI and SASB disclosures. These metrics are material to our organization and the metric objective highlights how they tie into our pillars. As we work towards 
enhancing our disclosures in future reports, we will seek to align with additional GRI and SASB metrics, where relevant.
S

Meridian Credit Union
  52
2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
OBJECTIVE
TOPIC
METRIC
2021
2022
GRI INDICATOR1 
SASB INDICATOR1
PEOPLE AND CULTURE
A focused commitment to Diversity, 
Equity, Inclusion, Belonging, 
Reconciliation and Culture for 
attracting and retaining talent. 
WOMEN IN LEADERSHIP
Director-level and above
Percentage
36%
36%
2-7, 2-10, 405-1
FN-AC-330a.1
WORK CULTURE
Employees who rated their employee 
experience as favourable
Percentage
75%
76%
OBJECTIVE
TOPIC
METRIC
2021
2022
GRI INDICATOR1 
SASB INDICATOR1
GOVERNANCE AND RESPONSIBLE MANAGEMENT   
Provide effective oversight of 
business operations and risk 
management.
EMPLOYEE COMPLIANCE2
Ethics training 
Completion 
percentage
96%
98%
410-1
Privacy and cyber security training
Completion 
percentage
97%
98%
MONETARY FINES
Monetary fines or sanctions received by the 
Board due to non-compliance with laws 
and regulations
Number
0
0
2-27, 416-2, 
417-2, 417-3
FN-AC-270a.2, 
FN-AC-510a.1
1	
Meridian has engaged an external consulting agency to guide us on alignment with the selected GRI and SASB disclosures. These metrics are material to our organization and the metric objective highlights how they tie into our pillars. As we work towards 
enhancing our disclosures in future reports, we will seek to align with additional GRI and SASB metrics, where relevant.
2	 Employee Compliance is inclusive of the employees of Meridian Credit Union, motusbank and OneCap.
G
S

Meridian Credit Union
  53
2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
OBJECTIVE
TOPIC
METRIC
2021
2022
GRI INDICATOR1 
SASB INDICATOR1
GOVERNANCE AND RESPONSIBLE MANAGEMENT
Committed to the highest standards 
of Corporate Governance in order 
to demonstrate our stewardship 
to Members, employees and 
stakeholders.
BOARD CERTIFICATION
Directors with professional certifications
Percentage
67%
67%
Directors with director certifications
Percentage
67%
83%
BOARD COMPLIANCE
Director compliance training modules
Completion 
percentage
83%
100%
Recognize and embrace the 
benefits of the diversity of our 
Board members.
BOARD DIVERSITY
Women 
Percentage
50%
58%
2-7, 2-10, 405-1
FN-AC-330a.1
Men
Percentage
50%
42%
2-7, 2-10, 405-1
FN-AC-330a.1
White
Percentage
83%
83%
2-10, 405-1
FN-AC-330a.1
Racialized and ethnic groups
Percentage
17%
17%
2-10, 405-1
FN-AC-330a.1
1	
Meridian has engaged an external consulting agency to guide us on alignment with the selected GRI and SASB disclosures. These metrics are material to our organization and the metric objective highlights how they tie into our pillars. As we work towards 
enhancing our disclosures in future reports, we will seek to align with additional GRI and SASB metrics, where relevant.
GG

Meridian Credit Union
  54
2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
2023 and Beyond – Introducing 
Meridian for Good
Our ultimate goal is to deliver on our purpose – 
helping everyone achieve their best life – and 
our vision – to be recognized as an inclusive, 
transparent and people-focused financial 
partner. To do this, we have been deepening 
our focus on people, the planet and our 
communities. We have concentrated our efforts 
and have a clear purpose and direction for our 
ESG initiatives. We have lived our ESG theme of 
Value Created and Shared.
We’re looking ahead through our new 
corporate strategy, Meridian for Good, and 
refining our focus on “good” more boldly while 
ensuring it’s linked throughout our organization. 
We’ve identified four strategic areas where 
we’re seeking ways to invest for “good” and 
continually improve our products, services 
and experiences, in ways that matter most 
to our Members, customers, employees 
and communities. 
Meridian for Good will build upon the 
momentum from the last couple of years and 
ensure we have a plan for sustainable growth 
across the enterprise. “Helping everyone 
achieve their best life” will guide our decisions 
and support our vision “to be recognized as 
an inclusive, transparent and people-focused 
financial partner,” and help solve some of the 
most pressing social and environmental issues 
of our time.
We believe our greatest opportunity is to create 
opportunity. We’re committed to enabling 
people and businesses to have a positive impact 
on their lives and communities. And we do this by 
providing equitable access to forward-thinking 
financial products and services.
We started by embedding ESG principles into 
our long-term corporate strategy, helping 
Canadians become more financially confident, 
and supporting businesses committed to clean 
technology and more sustainable practices. 
We’re seriously investing in digital security and 
analytics to protect our Members from cyber 
attacks and fraud. We’re aiming to make bold 
changes into this new and exciting direction 
in 2023 and share our accomplishments and 
achievements with you in our next report.
Meridian for Good is so much more than a 
turn of phrase aligned with our cooperative 
principles. To us, Meridian for Good is a 
foundation and a belief that enables us to 
do “more good.”

Meridian Credit Union
  55
2022 ESG Report
About Meridian
Environment
Member Experience
Community
People and Culture
Governance
Performance
Forward-Looking Statements
This Meridian 2022 ESG Report includes forward-looking 
statements, which by their very nature require management to 
make assumptions and involve inherent risks and uncertainties. 
Forward-looking statements include, but are not limited 
to, statements made in this document regarding Meridian’s 
objectives, principles, vision and strategic goals and Meridian’s 
environmental, social, people and culture, economic and 
governance-related impacts and objectives, including Meridian’s 
ESG commitment, climate commitment and greenhouse gas 
emissions and energy targets, sustainability-themed investments, 
housing affordability, and women in leadership. Forward-looking 
statements are typically identified by the words “believe”, “expect”, 
“anticipate”, “intend”, “estimate”, “may increase”, “may impact” 
and other similar expressions, or future or conditional verbs such 
as “will”, “should”, “would” and “could”. A number of important 
factors, many of which are beyond management’s control, could 
cause actual future results, conditions, actions or events to differ 
materially from the targets, projections, expectations, estimates or 
intentions expressed in forward-looking statements. These factors 
include, but are not limited to, changes in general economic 
conditions in Canada, particularly those in Ontario; legislative or 
regulatory developments; changes in accounting standards or 
policies; industry developments and changes in the competitive 
environment; and Meridian’s success in anticipating and managing 
the risks inherent in these factors. All such factors, as well as other 
uncertainties and potential events, and the inherent uncertainty of 
forward-looking statements, should be considered carefully when 
making decisions with respect to Meridian. Readers are cautioned 
that the foregoing list is not exhaustive of all possible factors and 
other factors could also adversely affect Meridian’s results. Undue 
reliance should not be placed on forward-looking statements, as 
actual results may differ materially from expectations. Meridian 
does not undertake to update any forward-looking statements 
contained in this Meridian 2022 ESG Report.
Any forward-looking statements contained in this document 
represent the views of management only as of the date hereof and 
are presented for the purposes of assisting Meridian’s Members 
and analysts in understanding Meridian’s financial position, 
objectives and priorities and anticipated ESG performance as at 
and for the periods ended on the date presented, and may not be 
appropriated for other purposes.
This document is not required to be prepared or filed by Meridian 
under Canadian securities laws, and the information contained 
herein should not be read as necessarily rising the level of 
materiality of disclosure required in our International Financial 
Reporting Standards.
This Meridian 2022 ESG Report contains general information 
only and Meridian is not, by means of this publication, rendering 
business, financial, investment, legal, accounting, tax or other 
professional advice or services. This report is not a substitute for 
such professional advice or services, nor should it be used as a 
basis for any decision or action that may affect your business. 
Before making any decision or taking any action that may affect 
your business, you should consult a qualified professional advisor. 
Meridian shall not be responsible for any loss sustained by any 
person who relies on this publication.
All content of this Meridian 2022 ESG Report is the property of 
Meridian unless otherwise noted. Any downloading of text or 
graphics for purposes other than personal use is prohibited 
unless authorized by Meridian. All other marks are copyright of 
their owners.
™Trademarks of Meridian Credit Union Limited
THE EXCHANGE® Network and Interac™. Used under license.

Meridian Credit Union Limited – Corporate Offices
St. Catharines 
75 Corporate Park Drive
St. Catharines, ON
L2S 3W3
Toronto 
3280 Bloor Street West
Centre Tower, 7th floor
Etobicoke, ON
M8X 2X3
Phone
Canada and the U.S. 1-855-341-4643
International Collect 1-647-252-9564
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