Credit Union
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Meridian

Advertiser Disclosure

About company

Meridian Credit Union is the largest credit union in Ontario and the second largest in Canada, which provides a whole choice of financial services. It was formed in 2005 and has opened 89 branches in Ontario, Canada. 

Since 2019 Meridian has been operating all over the country through a subsidiary — digital motusbank, which provides great rates and fast online services. 

With Meridian Credit Union, more than 365,000 members could use their savings and chequing accounts, mortgages, loans, GICs, credit cards, and other personal and business banking products. 

Features

  1. Meridian is a big credit union, providing financial and banking services like traditional banks, staying an alternative to Big 5 banks. It has over 90 branches in Ontario and 3,600 of ABMs in Canada with THE EXCHANGE Network and thousands of ATMs in the US. So Meridian is the best choice if you are in Ontario and want to be a part of the financial institution as its member and owner. 

  2. As the largest credit union in Ontario, Meridian Credit Union is focused on Ontario’s customers and operates mostly there. However, residents of other provinces, except Quebec, may use motusbank, an online-only bank launched in 2019. Those living in Ontario may also combine to use in-person, telephone, mobile, and online banking. 

  3. No-fee chequing and savings accounts can offer great options with no monthly and transaction fees, no minimum balance needed, and attractive interest rates. You could link your chequing and savings accounts by Auto-Save or open one Sweep account, which links chequing and high-interest savings accounts together to make your savings automatically. 

Pros and cons 

To find out more, let's look up Meridian's perks and drawbacks review. 

Pros 

  • Full-service financial institution

  • Large branches network in Ontario 

  • Nationwide online bank 

  • Members’ decisions may affect the credit union's work

  • Wide range of options

  • No fee accounts 

  • Competitive interest rates 

  • Full-service mobile app

  • Lock mortgage for 120 days 

  • Special mortgage options for self-employed, young professionals and new Canadians, home construction, big families, and more 

  • Access to THE EXCHANGE Network and Allpoint network ATMs

Cons

  • Branches only in Ontario

  • No long-term investment products

  • No stocks trading platform

  • Bad customer reviews

  • Not all products available online

  • Limited insurance options offered by third-party companies 

Products

  1. Pay As You Go chequing account allows you to waive transaction fees with a $2,000 balance or pay for each transaction — your expenses depend on how often you use your card, with no monthly fee. 

  2. High-interest savings account (HISA) without fees and minimum balance, available to open in your TFSA, RRSP, or RRIF plans with a high interest earning for every dollar. 

  3. Meridian Visa Infinite Travel Rewards Card allows you to quickly earn rewards and redeem them on various travel options or merchandise, providing premium benefits and insurance. 

  4. 5-Year Fixed Rate Mortgage is one of the most popular mortgage options, with a 5.29% special rate for a closed and a 4.84% special rate for a high ratio closed mortgage.

  5. A hybrid Mortgage is a mix product of a loan and a conventional mortgage designed for those who expect an income increase in 5-10 years but want to live in a dream home now. 

  6. Small Business Online Banking and Business Online Banking platforms with full banking service allow business owners to make quick transactions, manage funds from one account and customize access. 

  7. 3-year Raise the Rate GIC offers an opportunity to change the interest rate according to the current before the end of the GIC term. 

  8. Meridian Mobile Banking App provides all functions essential for quick, comfortable, and efficient everyday banking. View transactions and balances, open new products, make transfers, pay bills, send, receive and request Interac e-Transfers, and many more. 

Services 

  1. The Auto-Save feature is designed for automatic savings and can be set up through online and mobile banking.

  2. Sweep lets you transfer money from a chequing account to a HISA according to your limit with no transaction fees. 

  3. Meridian Rewards program lets you use your credit card to earn travel, cash, or US dollar rewards points for any card purchases or specific categories and redeem them for merchandise, travel, account credit, etc. 

  4. Price Drop feature is designed to look for a better price on your purchase, claim money back or get a refund automatically. 

  5. eZCard is an online tool assisting in managing your credit card account: balances, rewards, and payments. In addition, you may log in through Meridian online banking. 

  6. Lending cash back, 120-day rate lock, 20/20 pre-payments. 

  7. Business banking cash management tools and resources. 

Meridian

FAQ

Is Meridian Credit Union legitimate?

Yes, it is. Meridian Credit Union is the largest credit union in Ontario and one of the largest credit unions in Canada. It has branches in Ontario and an online bank — motusbank operating nationwide. Meridian is a member of the Financial Services Regulatory Authority of Ontario (FSRA), which protects deposits up to $250,000 per person.

How can I contact Meridian Credit Union?

The Meridian Credit Union Contact Centre agents can help you via the following channels:

  • Toll-free phone: 1-866-592-2226

  • International collect: 1-416-597-0165

Monday to Sunday: 8:00 AM – 12:00 AM (EST / EDT).

What ATMs could I use if I am a client of Meridian?

Meridian cardholders have access to more than 43,000 surcharge-free ATMs in North America: THE EXCHANGE Network in Canada and the Allpoint Network in the USA.

Company documents

Privacy Policy

As Ontario’s largest credit union, with more than 365,000 Members, we’re committed to providing exceptional banking services and advice. We also have a role to play that goes beyond financial services. Our commitment to Members and communities is rooted in this fundamental belief.

© Meridian Credit Union
Financial products
Meridian
Meridian Visa* US Dollar Card®
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Meridian
Meridian Visa Infinite* Travel Rewards Card®
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Meridian
Meridian Visa* Platinum Travel Rewards Card®
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Meridian
Meridian Visa* Platinum Cash Back Card®
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Meridian
Meridian Visa* Cash Back Card®
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Meridian
Meridian Visa Infinite* Cash Back Card®
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Meridian
A hybrid mortgage
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
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650
1000
Meridian
Self-Employed mortgages
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
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1000
Meridian
Friends and Family Mortgage
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Meridian
Construction Mortgage
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Meridian
Flex Line Mortgage
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Meridian
Variable rate mortgages
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

5.35% - 7.95%
Term
i

Loan term for the financial product

5 years
Meridian
Fixed-rate mortgages
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
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Effective interest rate on the product

4.84% - 6.79%
Term
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Loan term for the financial product

5 years
Meridian
AgriInvest account
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Meridian
Business Advantage Savings account
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Meridian
Business Advantage Plus Savings account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$0 monthly fee
Rate
i

Effective interest rate on the product

up to 2.50%
Meridian
Registered Disability Savings Plan (RDSP)
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Meridian
Registered Retirement Income Fund (RRIF)
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Meridian
Registered Education Savings Plan (RESP)
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Meridian
Tax-Free Savings Account (TFSA)
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Meridian
Registered Retirement Savings Plan (RRSP)
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Meridian
Youth savings account
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$0 monthly fee
Meridian
Advantage savings account
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$0 monthly fee
Meridian
High interest savings account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$0 monthly fee
Rate
i

Effective interest rate on the product

2.50%
Meridian
Home equity line of credit
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
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1000
Meridian
Personal line of credit
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
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1000
Meridian
Personal loan
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
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650
1000
aggregation.company.all-products
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Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

19.75% - 21.49%
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

19.99% - 22.99%
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
from $5,000
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i

Effective interest rate on the product

19.99% - 22.99%
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

20.99% - 22.99%
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

21.99% - 22.99%
Mogo
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Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

4.46%
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$10,000-$100,000,000
Rate
i

Effective interest rate on the product

up to 4.95%
Term
i

Loan term for the financial product

up to 10 years
Think Financial
Mortgage
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$50,000-$500,000
Rate
i

Effective interest rate on the product

up to 5.19%
Term
i

Loan term for the financial product

up to 25 years
CHIP Reverse Mortgage
Reverse Mortgage
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$100,000-$500,000
Rate
i

Effective interest rate on the product

up to 7.67%
Term
i

Loan term for the financial product

up to 25 years
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$1,000-$10,000,000
Rate
i

Effective interest rate on the product

up to 4.94%
Term
i

Loan term for the financial product

up to 40 years
Toronto-Dominion Bank
TD Every Day Savings Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$0 monthly fee
Tangerine Bank
Savings Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$0 monthly fee
Rate
i

Effective interest rate on the product

1.00%
Scotiabank
Ultimate Package
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

up to $30.95 monthly fee
Royal Bank of Canada
Savings Deposit
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
no minimum deposit
Rate
i

Effective interest rate on the product

0.5%
Best Quick Loan Today 21.05.2024*
Mr. Payday
Need a Quick Loan Now?
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
up to $10.000
Coast Capital Savings
Personal Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$500-$50,000
Rate
i

Effective interest rate on the product

7.5%
Term
i

Loan term for the financial product

60 months
Mogo
Personal Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$500-$15,000
Rate
i

Effective interest rate on the product

up to 46.96%
Term
i

Loan term for the financial product

up to 60 months
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
to 1500.00 C$
Rate
i

Effective interest rate on the product

to 517.08 %
Term
i

Loan term for the financial product

1 days – 62 days
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
500.00 – 4000.00 C$
Rate
i

Effective interest rate on the product

29.90 – 46.90 %
Term
i

Loan term for the financial product

to 1 years
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