Now ranks as Canada's third largest credit union
TORONTO, April 25, 2018 /CNW/ - Meridian, Ontario's largest credit union, celebrated record growth at its 13th Annual General Meeting and a jump in its ranking as the third largest credit union in Canada, up from fourth place. Meridian CEO Bill Maurin shared the news in Hamilton at Liuna Station with more than 200 Members in attendance.
"Meridian's amazing progress and growth is a clear indicator that we are on the right path to realizing our vision for the future," said Bill Maurin, CEO of Meridian. "As our growing base of Members attests, we're offering what they need and want, with an exceptional caliber of service and support. This achievement is only possible because of the passion, dedication and talent of our employees and, on behalf of Meridian's leadership team, I thank them."
Four Board Directors were elected to the Board, including: Ken Bolton, Karen Farbridge, Colleen Sidford and Bruce West.
Resigning Board Chair John Murphy was replaced by Karen Farbridge, appointed by the Board as Board Chair after the Annual General Meeting.
"We look forward to an exciting year ahead of building on a strong foundation that will lead to even more great achievements with our Member-centric focus," said Maurin.
Over the last five years Meridian has almost doubled in size. Following are some notable growth highlights:
- Total assets under management are $18 billion in assets by year-end (2017), a 13 per cent growth over 2016
- Membership in 2017 grew by a record 12 per cent over the previous fiscal year
- Six new branches were opened in 2017 with expansion plans for three new branches in Toronto, Ottawa and Brampton areas in 2018 and 2019
- The launch of a federal digital bank in 2019 will give Canadians a flexible, convenient and mobile alternative to the big banks
With over 70 years of banking history, Meridian is Ontario's largest credit union and the third largest in Canada, helping to grow the lives of its more than 300,000 Members.Meridian has $18.7 billion in assets under management and delivers a full range of financial services online, by phone, by mobile and through a network of 90 branches across Ontario, and commercial banking services in 11 locations. Meridian Members also have access to THE EXCHANGE® Network, with more than 3,300 no-fee ABMs across Canada and 500,000 ABMs in the United States. For more information, please visit: meridiancu.ca.
SOURCE Meridian Credit Union
For further information: Media Contact: Teresa Pagnutti, Media & Stakeholder Relations, Meridian, [email protected], 416-597-4444 Ext. 2667