# Meridian Credit Union

> Mediated Wiki article. Canonical URL: https://mediated.wiki/source/Meridian_Credit_Union
> Markdown URL: https://mediated.wiki/source/Meridian_Credit_Union.md
> Source: https://en.wikipedia.org/wiki/Meridian_Credit_Union
> Source revision: 1356928881
> License: Creative Commons Attribution-ShareAlike 4.0 International (https://creativecommons.org/licenses/by-sa/4.0/)

**Meridian Credit Union Ltd.** is a Canadian [credit union](/source/Credit_union). It was formed on 1 April 2005 through the merger of Niagara Credit Union and HEPCOE (*Hydro Electric Power Commission of Ontario Employees*) Credit Union. It is insured by the [Financial Services Regulatory Authority of Ontario](/source/Financial_Services_Regulatory_Authority_of_Ontario).[2]

## History

Meridian is the second largest credit union in Canada, and the largest credit union in Ontario, with more than 378,000 members with total assets under administration of over $28.5 billion.[3] Meridian offers banking, wealth management, credit products and services through 88 branches, and fifteen Commercial Business Centres.[4]

Desjardins Credit Union (the Ontario affiliate of the [Desjardins Group](/source/Desjardins_Group), formerly [Province of Ontario Savings Office](/source/Province_of_Ontario_Savings_Office)[5] ) and Meridian's membership voted in favour of a merger effective 1 June 2011.[6] By 2012, most of the former Desjardins branches in Ontario had been renamed to Meridian branches.[7][8]

In April 2016 Meridian completed its acquisition from [Scotiabank](/source/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.[9][10]

On 21 February 2017, Meridian announced and introduced a new line of [Visa](/source/Visa_Inc.) credit cards, moving away from [MasterCard](/source/MasterCard).[11]

On 19 November 2019, Meridian won "Best Credit Union" at the 5th Annual Canadian FinTech & AI Awards.[12]

During the [COVID-19 pandemic in Ontario](/source/COVID-19_pandemic_in_Ontario), Meridian closed branches and reduced hours to comply with lockdown orders.[13] As a result, however, it laid off 109 members of its staff.[14]

## Motusbank

On 17 August 2016, Meridian announced its intention to establish a federally chartered [online banking](/source/Online_bank) subsidiary.[15][16] On 4 February 2019 the name announced for the new entity was **Motusbank**, stylized as *motusbank*.[15][17] Motusbank launched across Canada on 2 April 2019.[18][19][20] As of June 2019, Motusbank had approximately CAD$54 million in capital.[21]

Motusbank began winding down operations in 2025 with a final shutdown date of November 1. Deposit and loan accounts were moved to Meridian Credit Union (“Meridian”) and Coast Capital Savings Federal Credit Union (“Coast Capital”). [22]

## Recognition

Meridian Credit Union was listed as one of Canada's top 100 employers by *[Maclean's](/source/Maclean's)* magazine in 2009 and 2010.[23][24]

## Sponsorships

Through its "Commitment to Communities" program Meridian Credit Union contributes money to local causes and encourages employees to volunteer in their community.[25] The company also donates to national organizations such as the [Alzheimer Society of Ontario](/source/Alzheimer_Society_of_Ontario).[26] Facilities which Meridian owns naming rights to include [Meridian Hall](/source/Meridian_Hall_(Toronto)) ([Toronto](/source/Toronto)), [Meridian Place](/source/Meridian_Place) ([Barrie](/source/Barrie)) and [Meridian Centre](/source/Meridian_Centre) ([St. Catharines](/source/St._Catharines)).[27][28]

## References

1. [*Meridian Annual Report 2023*](https://www.meridiancu.ca/MeridianCreditUnion/media/Meridian-Credit-Union/pdfs/2023-Meridian-Annual-Report.pdf). St. Catharines, Ontario: Meridian Credit Union, Limited. pp. 3,29–30. Retrieved 19 February 2025.

1. ["Meridian Annual Report 2019"](https://www.meridiancu.ca/Meridian/media/images/PDFs/MCU-2019-Annual-Report.pdf). Meridian Credit Union. Retrieved 5 August 2020.

1. Doherty, Brennan (2022-07-09). ["Meridian Credit Union’s CEO embraces its special role helping people that traditional banks won’t"](https://www.thestar.com/business/2022/07/09/meridian-credit-unions-ceo-embraces-its-special-role-helping-people-that-traditional-banks-wont.html). Toronto Star. Retrieved 9 July 2022.

1. ["Meridian Fast Facts"](https://www.meridiancu.ca/about-meridian/corporate/leadership/fast-facts)

1. ["Desjardins to Buy Province of Ontario Savings Office"](https://www.cbc.ca/news/business/desjardins-to-buy-province-of-ontario-savings-office-1.405079). [CBC.ca](/source/CBC.ca). 2003-01-28. Retrieved 2007-11-03.

1. ["Meridian - Personal"](http://www.meridiancu.ca/dcu/meridian-and-dcu/Pages/default.aspx). Meridian Credit Union. Retrieved 23 February 2017.

1. Ariss, Don. ["2012 Annual Report Corporate Highlights."](https://www.meridiancu.ca/Meridian/media/images/PDFs/2012_AnnualRep_v13_CorpHighlights.pdf). Meridian Credit Union. Retrieved 23 February 2017.

1. Spears, John (1 March 2011). ["Merger of Desjardins and Meridian creates credit union giant"](https://www.thestar.com/business/2011/03/01/merger_of_desjardins_and_meridian_creates_credit_union_giant.html). Toronto, ON: [Toronto Star](/source/Toronto_Star). Retrieved 23 February 2017.

1. Medeiros, Diane (29 April 2016). ["Meridian Completes Acquisition of Roynat Lease Finance"](http://www.meridiancu.ca/meridian/Media/meridian-announcements/Pages/Meridian-Completes-Acquisition-of-Roynat-Lease-Finance.aspx). [St. Catharines](/source/St._Catharines): Meridian Credit Union. Retrieved 28 May 2016.

1. Fraser, Don (19 April 2016). ["Meridian Credit Union acquires Roynat Lease Finance"](https://web.archive.org/web/20160826112109/http://www.stcatharinesstandard.ca/2016/04/19/meridian-credit-union-acquires-roynat-lease-finance). [St. Catharines](/source/St._Catharines), [Ontario](/source/Ontario): St Catharines Standard. Archived from [the original](http://www.stcatharinesstandard.ca/2016/04/19/meridian-credit-union-acquires-roynat-lease-finance) on 26 August 2016. Retrieved 23 August 2016.

1. Ramsingh, Priya (8 February 2017). ["Meridian launches new line of Visa credit cards"](http://www.newswire.ca/news-releases/meridian-launches-new-line-of-visa-credit-cards-613175133.html). [Canada NewsWire](/source/CNW_Group). Retrieved 23 February 2017.

1. Pagnutti, Teresa. ["Meridian wins first-ever Best Credit Union of the Year at Canadian FinTech and AI Awards"](https://www.newswire.ca/news-releases/meridian-wins-first-ever-best-credit-union-of-the-year-at-canadian-fintech-and-ai-awards-839513931.html). *Meridian Credit Union*. Retrieved 2 August 2020.

1. Pagnutti, Teresa (24 March 2020). ["Meridian announces temporary branch closures in some locations across Ontario | Meridian"](https://www.meridiancu.ca/Good-Sense/News/Meridian-announces-temporary-branch-closures-in-so.aspx). Meridian Credit Union. Retrieved 2 August 2020.

1. Benner, Allan (22 May 2020). ["Meridian Credit Union cuts 109 jobs"](https://www.stcatharinesstandard.ca/business/2020/05/22/meridian-credit-union-cuts-109-jobs.html). *stcatharinesstandard.com*. Retrieved 2 August 2020.

1. ["Meridian credit union to launch national bank"](http://www.cbc.ca/news/business/meridian-credit-union-bank-1.3724351). Toronto: CBC. 17 August 2016. Retrieved 22 August 2016.

1. Shecter, Barbara (17 August 2016). ["Meridian credit union seeking license for national online bank to take on Big Five"](http://business.financialpost.com/news/fp-street/meridian-credit-union-seeking-license-for-national-online-bank-to-take-on-big-five). Toronto: Financial Post. Retrieved 22 August 2016.

1. Shecter, Barbara (17 August 2016). ["Meridian credit union seeking license for national online bank to take on Big Five"](https://web.archive.org/web/20160822224942/http://business.financialpost.com/news/fp-street/meridian-credit-union-seeking-license-for-national-online-bank-to-take-on-big-five). *Financial Post*. Archived from [the original](http://business.financialpost.com/news/fp-street/meridian-credit-union-seeking-license-for-national-online-bank-to-take-on-big-five) on 22 August 2016. Retrieved 22 August 2016.

1. Zochodne, Geoff (4 February 2019). ["Meridian Credit Union eyes spring launch for new digital bank | Financial Post"](https://business.financialpost.com/news/fp-street/meridian-credit-union-eyes-spring-launch-for-new-digital-bank). Financial Post. Retrieved 4 February 2019.

1. ["'Price matters': New online bank hopes to attract cost-conscious customers"](https://www.theglobeandmail.com/investing/personal-finance/article-price-matters-new-online-bank-motusbank-hopes-to-attract-cost/). *theglobeandmail.com*. 14 October 2019. Retrieved 2 April 2019.

1. ["OSFI Guideline B-20 Disclosures"](https://www.motusbank.ca/MotusBank/media/motusbank/pdf/B20-Disclosures.pdf). March 31, 2019. Retrieved Oct 8, 2019.

1. ["First month's worth of balance sheet data for Motus Bank available | motusbank | Discussion forum | Canadian High Interest Savings Bank Accounts"](https://www.highinterestsavings.ca/forum/motusbank/first-months-worth-of-balance-sheet-data-for-motus-bank-available/). *Canadian High Interest Savings Accounts*. Retrieved 2019-10-08.

1. ["motusbank announcement | motusbank"](https://www.motusbank.ca/announcement). *www.motusbank.ca*. Retrieved 2025-06-23.

1. Windsor, Scott. ["Meridian Credit Union Amongst Canada's Top 100 Employers"](http://www.newswire.ca/news-releases/meridian-credit-union-amongst-canadas-top-100-employers-536678211.html). St. Catharines, ON: [Canada NewsWire](/source/CNW_Group). Retrieved 23 February 2017.

1. ["Canada's Top 100 Employers"](https://web.archive.org/web/20170224213508/http://www.macleans.ca/economy/business/the-top-100-2009/). [Maclean's](/source/Maclean's). 14 October 2009. Archived from [the original](http://www.macleans.ca/economy/business/the-top-100-2009/) on 24 February 2017. Retrieved 23 February 2017.

1. ["Meridian - Commitment to Communities – Community Programs - Meridian"](https://www.meridiancu.ca/About-Meridian/Community.aspx). Meridian Credit Union. Retrieved 26 January 2017.

1. ["Seeds of Hope - planting party at Meridian Credit Union"](http://alzheimersocietyblog.ca/seeds-of-hope-planting-party-at-meridian-credit-union/). *Alzheimer Society Blog*. 24 April 2015. Retrieved 4 October 2019.

1. Watt, Laurie (12 June 2015). ["Barrie unveils plans for outdoor city centre"](https://web.archive.org/web/20180210033037/https://www.simcoe.com/news-story/5674774-barrie-unveils-plans-for-outdoor-city-centre/). Barrie, ON: [Barrie Advance](/source/Barrie_Advance). Archived from [the original](http://www.simcoe.com/news-story/5674774-barrie-unveils-plans-for-outdoor-city-centre/) on 10 February 2018. Retrieved 20 June 2015.

1. ["Meridian Pays $5.2Mil for Naming Rights"](http://www.partnershipgroup.ca/meridian-pays-5-2mil-for-naming-rights/). Partnership Group. 16 September 2013. Retrieved 23 February 2017.

## External links

- [Motusbank official website](https://www.motusbank.ca)

---
Adapted from the Wikipedia article [Meridian Credit Union](https://en.wikipedia.org/wiki/Meridian_Credit_Union) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Meridian_Credit_Union?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.