A new movement in banking is coming to Canada: motusbank invites Canadians to take a closer look

Meridian to launch motusbank, Canada's new full-service digital bank in spring 2019

TORONTO, Feb. 4, 2019 /CNW/ - Meridian, Ontario's largest credit union, and the third largest in Canada, would like you to meet motusbank − a full-service digital bank − that combines a full retail product line with friendly and professional customer service, to serve the needs of all Canadians. motusbank is, quite simply, a new movement in banking.

Meridian's new subsidiary, motusbank, has received the official go-ahead from the Office of the Superintendent of Financial Institutions (OSFI). Canada's new digital bank will open for business this spring but Canadians can take a sneak peek now.

motusbank is different from other digital banks. Like Meridian, motusbank customers, referred to as members, will benefit from better pricing and services because there are no shareholders expecting quarterly returns. Digital, but not impersonal, motusbank promises to deliver superior member service regardless of communication channel. Members will also have a say on ideas for new products and features using tools for feedback to help inform the continuous evolution of motusbank offerings.

"Canadians are ready to experience a digital bank that puts its members at the centre of everything," says Bill Maurin, President and CEO of Meridian and motusbank. "We are building on Meridian's unique, member-centric focus and bringing the Meridian experience to all Canadians. motusbank will treat members as true partners, offering an exceptional digital experience, along with some of the most competitive rates and fees in the country. This is a smart banking option with the purpose of helping all Canadians live better, happier lives."

Digitally savvy Canadians can do all of their banking online and on their mobile devices with easy access to no-fee savings and chequing accounts, loans and lines of credit, investments − even mortgages − and more. In fact, motusbank will offer Canadians the most advanced and comprehensive digital mortgage platform in Canada.  In addition to offering full digital capabilities, motusbank will provide full member support through its contact centre − with real people − and access to one of Canada's largest no-fee ATM networks.

"We are seeing some fundamental changes in what people expect from their financial institutions and how financial services are being delivered," says David Baldarelli, motusbank COO. "We've responded to what Canadians want by developing a simple and intuitive digital platform that makes banking feel good, and an experience that makes people feel valued and secure. motusbank members will have the right tools, competitive rates and great service to manage their finances and overall health and wellbeing."

motusbank to celebrate launch with special mortgage offer for members

The word motus literally means movement or motion, and represents a new movement in banking to help progress the lives of motusbank members. So, with the belief that every Canadian deserves a shot at owning a home, motusbank will launch with an incredibly low mortgage rate, exclusively for new motusbank members.

Canadians are invited to visit meetmotusbank.ca. They can stay connected with news about the motusbank spring launch date and be the first to take advantage of our special launch mortgage offer. Follow @motusbank on Twitter and Instagram, Facebook and Linked In.

About motusbank:
motusbank, where banking feels good. We are a full-service digital bank offering Canadians everything they need for day-to-day banking, including no-fee savings and chequing accounts, loans and lines of credit, investments, mortgages, and more. motusbank offers access to one of the largest no-fee ATM networks across Canada and around the world, and security you can bank on. motusbank is a subsidiary of Meridian with headquarters in Toronto. We are 100 per cent accountable to our members. When it comes to rates, we'll always aim to please. Our goal is to be fully transparent. No hoop jumping. No fine print. motusbank.ca will be live in spring 2019.

About Meridian: 
With more than 75 years of banking history, Meridian is Ontario's largest credit union, helping to grow the lives of its more than 300,000 Members. Meridian has $20.6 billion in assets under management, as of November 30, 2018, and delivers a full range of financial services online, by phone, by mobile and through a network of 91 branches across Ontario, and commercial banking services in 11 locations. Meridian Members also have access to THE EXCHANGE® Network, with 3,700 no-fee ABMs across Canada and 500,000 ABMs in the United States. For more information, please visit: meridiancu.ca.  

SOURCE motusbank

Media Contacts: Teresa Pagnutti, Meridian, 416 597-4444 x2667, [email protected]; Sonia Prashar, spPR, 416-560-6753, [email protected]