Meridian Completes Acquisition of Roynat Lease Finance

Leasing Subsidiary to Operate as Meridian OneCap Credit Corp.

TORONTO, April 29, 2016 /CNW/ - Meridian, Ontario's largest credit union, today announces it has completed its acquisition of Roynat Lease Finance, a leading supplier of customized commercial equipment leasing solutions. Effective today, Roynat Lease Finance will operate as Meridian OneCap Credit Corp., a wholly owned subsidiary of Meridian Credit Union. 

"This acquisition demonstrates Meridian's strategic vision of diversifying our service offering and revenue streams while expanding the Meridian brand outside of Ontario," said Bill Maurin, President and CEO of Meridian. "The synergies shared by our organizations will position us well for continued growth."

The closing of the transaction follows satisfaction of certain conditions including receipt of regulatory approval. As previously announced, Joe LaLeggia has been named President of Meridian OneCap Credit Corp.

About Meridian:
With over 70 years of banking history, Meridian is Ontario's largest credit union, helping to grow the lives of its more than a quarter of a million Members, including over 22,000 business Members. Meridian has $13 billion in assets under management and delivers a full range of financial services online, by phone, by mobile and through a network of 76 branches and 7 business centres. Meridian Members also have access to THE EXCHANGE® ATM/ABM Network, with more than 3,300 surcharge-free ABMs across Canada and 360,000 ABMs in the United States. For more information, please visit: meridiancu.ca.

SOURCE Meridian Credit Union

Diane Medeiros, Manager, Media & Stakeholder Relations, Meridian, 416-597-4444 Ext. 2667