Meridian Credit Union

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Meridian Credit Union
Credit union
Industry Financial services
Founded 2005
Headquarters St. Catharines, Ontario, Canada
Key people
Bill Maurin, President & CEO
Products Savings; chequing; consumer loans; mortgages; credit cards; online banking
Revenue $359.7 million CAD (2015)[1]
Total assets $11.1 billion CAD (2015) [1]
Website meridiancu.ca

Meridian Credit Union is a Canadian credit union. It was formed April 1, 2005, following the merger of Niagara Credit Union and HEPCOE Credit Union. It is insured by the Deposit Insurance Corporation of Ontario.

Meridian is the fourth largest credit union in Canada, and the largest credit union in Ontario, serving more than 275,000 members with total assets under administration of over $14 billion. Meridian offers banking, wealth management, credit products and services through 86 branches, and eleven Commercial Business Centres.[2]

Meridian Credit Union was recognized as one of Canada's top 100 employers by Maclean's magazine in 2009 and 2010.[3][4]

Desjardins Credit Union (the Ontario affiliate of the Desjardins Group) and Meridian’s membership voted in favour of a merger effective June 1, 2011.[5] By 2012, most of the former Desjardins branches in Ontario had been renamed to Meridian branches.[6][7]

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.[8][9]

In February 2017, Meridian announced and introduced a new line of Visa credit cards, moving away from MasterCard.[10]

New bank[edit]

On 17 August 2016, Meridian Credit Union announced it would be starting a federal chartered bank to be named Meridian Bank.[11][12]

Sponsorships[edit]

In 2017, Meridian will invest a minimum 4% of pre-tax earnings in initiatives that benefit Ontario’s communities.[13] Meridian's sponsorships include:

References[edit]

  1. ^ a b Murphy, John. "2015 Annual Report" (PDF). St. Catherines, ON: Meridian Credit Union. Retrieved 23 February 2017. 
  2. ^ "Meridian - About Meridian, Our Story – Why Choose Meridian - Meridian". meridiancu.ca. Retrieved 26 January 2017. 
  3. ^ Windsor, Scott. "Meridian Credit Union Amongst Canada's Top 100 Employers". St. Catherines, ON: Canada NewsWire. Retrieved 23 February 2017. 
  4. ^ "Canada's Top 100 Employers". Maclean's. 14 October 2009. Archived from the original on 23 February 2017. Retrieved 23 February 2017. 
  5. ^ "Meridian - Personal". Meridian Credit Union. Retrieved 23 February 2017. 
  6. ^ Ariss, Don. "2012 Annual Report Corporate Highlights." (PDF). Meridian Credit Union. Retrieved 23 February 2017. 
  7. ^ Spears, John (1 March 2011). "Merger of Desjardins and Meridian creates credit union giant". Toronto, ON: Toronto Star. Retrieved 23 February 2017. 
  8. ^ Medeiros, Diane (29 April 2016). "Meridian Completes Acquisition of Roynat Lease Finance". St. Catharines: Meridian Credit Union. Retrieved 28 May 2016. 
  9. ^ Fraser, Don (19 April 2016). "Meridian Credit Union acquires Roynat Lease Finance". St. Catharines, Ontario: St Catherines Standard. Archived from the original on 23 August 2016. Retrieved 23 August 2016. 
  10. ^ Ramsingh, Priya (8 February 2017). "Meridian launches new line of Visa credit cards". Canada NewsWire. Retrieved 23 February 2017. 
  11. ^ "Meridian credit union to launch national bank". Toronto: CBC. 17 August 2016. Retrieved 22 August 2016. 
  12. ^ Shecter, Barbara (17 August 2016). "Meridian credit union seeking license for national online bank to take on Big Five". Toronto: Financial Post. Retrieved 22 August 2016. 
  13. ^ "Meridian - Commitment to Communities – Community Programs - Meridian". Meridian Credit Union. Retrieved 26 January 2017. 
  14. ^ Watt, Laurie (12 June 2015). "Barrie unveils plans for outdoor city centre". Barrie, ON: Barrie Advance. Archived from the original on 23 February 2017. Retrieved 20 June 2015. 
  15. ^ "Meridian Pays $5.2Mil for Naming Rights". Partnership Group. 16 September 2013. Retrieved 23 February 2017.