Meridian wins first-ever Best Credit Union of the Year at Canadian FinTech and AI Awards

TORONTO, Nov. 19, 2019 /CNW/ - Meridian, Ontario's largest credit union and third largest in Canada, is honoured to be the first recipient of the Best Credit Union of the Year bestowed at the 5^th Annual Canadian FinTech & AI Awards. The new Award, sponsored by Central 1 recognizes the important role that credit unions play in the Canadian financial services landscape.

Best Credit Union of the Year Award distinguishes a credit union in Canada that is a leader in technology innovation, and that has designed and implemented technology to help customers bank better or to help the credit union improve its services to its customer base. Judges also look for leadership measured by support for many different players in the ecosystem that demonstrate clear commitment to supporting Canadian innovation.

"Being recognized by our industry peers is a remarkable tribute to our leadership and management teams and also to our employees who consistently apply their passion and commitment to excellence with outstanding results," said Bill Maurin, President & CEO of Meridian. "Digital banking is one of Meridian's top strategic initiatives that has already opened the door to new Member acquisition and more households across Ontario."

In 2018, Meridian's Membership base increased by nine per cent while digital Membership increased by 61 per cent. 

Meridian launched its new subsidiary, motusbank, in April 2019, a full service retail digital bank with end-to-end digital banking services and products and some of the most competitive rates and fees in the country. Building on Meridian's technological capabilities and unique Member centric focus, motusbank extends our service offering across Canada and offers a viable alternative to digitally savvy consumers.

"The legacy way of doing things is no longer accepted," said Dave Baldarelli, Chief Digital Officer of Meridian and Chief Operating Officer of motusbank. "We are proud of our history of digital firsts, aligned with our goal to increase overall sense of wellbeing for our Members, starting with finances. Everything we do at Meridian digitally ladders up to our brand promise, where banking feels good."

The Canadian FinTech & AI Awards are designed to celebrate Canadian innovation.

About Meridian

With more than 75 years of banking history, Meridian is Ontario's largest credit union and the third largest in Canada, helping to grow the lives of more than 350,000 Members. Meridian has $22.9 billion in assets (as at September 30, 2019) and delivers a full range of financial services online, by phone, by mobile and through a network of 92 branches across Ontario, and commercial banking services in 14 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 Meridian Credit Union

Media Contact: Teresa Pagnutti, Senior Manager, Public Relations, Meridian, [email protected]; 416-597-4444 Ext. 2667