Meridian Credit Union
Meridian Credit Union Ltd. is a Canadian credit union. It was formed on 1 April 2005 through the merger of Niagara Credit Union and HEPCOE Credit Union. It is insured by the Financial Services Regulatory Authority of Ontario. History. Meridian is the third largest credit union in Canada, and the largest credit union in Ontario, with more than 360,000 members with total assets under administration of over $23.9 billion. Meridian offers banking, wealth management, credit products and services through 92 branches, and fourteen Commercial Business Centres. Desjardins Credit Union (the Ontario affiliate of the Desjardins Group ) and Meridian's membership voted in favour of a merger effective 1 June 2011. By 2012, most of the former Desjardins branches in Ontario had been renamed to Meridian branches. In April 2016 Meridian completed its acquisition from Scotiabank of Roynat Lease Finance, a supplier of commercial equipment leasing. Roynat Lease Finance will operate as Meridian OneCap Credit Corp., a wholly owned subsidiary of Meridian Credit Union. On 21 February 2017, Meridian announced and introduced a new line of Visa credit cards, moving away from MasterCard. On 19 November 2019, Meridian won "Best Credit Union" at the 5th Annual Canadian  FinTech & AI Awards. During the COVID-19 pandemic in Ontario, Meridian closed branches and reduced hours to comply with lockdown orders. As a result, however, it laid off 109 members of its staff. Motusbank. On 17 August 2016, Meridian announced its intention to establish a federally chartered online banking subsidiary. On 4 February 2019 the name announced for the new entity was Motusbank, stylized as "motusbank". Motusbank launched across Canada on 2 April 2019. As of June 2019, Motusbank had approximately CAD$54 million in capital. Recognition. Meridian Credit Union was listed as one of Canada's top 100 employers by "Maclean 's magazine" in 2009 and 2010. Sponsorships. Through its "Commitment to Communities" program Meridian Credit Union contributes money to local causes and encourages employees to volunteer in their community. The company also donates to national organizations such as the Alzheimer Society of Ontario. Facilities which Meridian owns naming rights to include Meridian Place (Barrie) and Meridian Centre (St. Catharines).