Meridian Credit Union
This Page's Content Was Last Updated: July 21, 2026
Important Information
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Managing $27.3 billion in total assets, Meridian Credit Union stands as the #4 largest credit union in Canada. Our independent review breaks down Meridian Credit Union’s consumer offerings, deposit safety under the Financial Services Regulatory Authority of Ontario (FSRA), via the Deposit Insurance Reserve Fund (DIRF), and competitive rates for Ontario depositors and home buyers.
Jump to Section: Institution Overview•Mortgage Rates•GIC Rates•Financial Performance
Credit Union
Meridian
Meridian Credit Union is a credit union located in Ontario. It was founded in 2005 through the merger of Niagara Credit Union and HEPCOE Credit Union.
Meridian Credit Union is Ontario's largest credit union, a member-owned cooperative headquartered in St. Catharines with corporate offices in Toronto. It was formed in 2005 through the merger of Niagara Credit Union and HEPCOE Credit Union, with predecessor roots reaching back more than 80 years. Meridian serves members across Ontario through branches, digital banking, and business banking centres, offering chequing and savings accounts, mortgages, loans, investments, and financial planning. Its subsidiary, Meridian OneCap Credit Corp., provides commercial equipment leasing and financing across Canada. In 2026, Meridian became the first provincial credit union approved as a Payments Canada member under expanded eligibility rules. Member deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA).
Provinces served
Number of Members (as of 2025): ~390,000
Meridian Mortgage Rates
The mortgage rates on this page were last updated on September 21, 2026 at 6:15 PM ET.
| Lender | Term | Insured down payment < 20% | Insurable home < $1M & amortization ≤ 25yr | Posted non-discounted rate |
|---|---|---|---|---|
| Meridian Credit Union | 6-Month Fixed | — | — | 7.84% |
| Meridian Credit Union | 1-Year Fixed | — | — | 6.09% |
| Meridian Credit Union | 2-Year Fixed | — | — | 5.74% |
| Meridian Credit Union | 3-Year Fixed | 4.29% | 4.49% | 4.49% |
| Meridian Credit Union | 4-Year Fixed | — | — | 6.19% |
| Meridian Credit Union | 5-Year Fixed | 4.59% | 4.74% | 4.74% |
| Meridian Credit Union | 7-Year Fixed | — | — | 6.89% |
| Meridian Credit Union | 10-Year Fixed | — | — | 6.99% |
| Meridian Credit Union | 5-Year Variable | 3.44% | 3.64% | — |
* Rates are for informational purposes only and reflect the lowest rates available. Rates may change at any time and may be applicable only to certain borrowers. Terms and conditions apply. | ||||
Looking for fine-print details? Read our comprehensive Meridian Credit Union Mortgage Rates, Prepayment Privileges & Penalty Review to learn about annual lump-sum rules, payment increases, and early payout calculations.
Meridian GIC Rates
The GIC rates on this page were last updated on September 21, 2026 at 5:44 PM ET.
| Term | Non-Registered Rate | Registered Rate |
|---|---|---|
| 1-Year | 3.20% | 3.20% |
| 1.5-Year | 3.45% | 3.45% |
| 2-Year | 3.70% | 3.70% |
| 3-Year | 4.00% | 4.00% |
| 4-Year | 3.90% | 3.90% |
| 5-Year | 4.10% | 4.10% |
* Rates are for informational purposes only and reflect the highest rates available. Rates may change at any time and may be applicable only to certain depositors. Terms and conditions apply. | ||
Meridian Credit Union Ranking Among Credit Unions Monitored by WOWA
4th
by Assets
of 134 credit unions
4th
by Loans
of 133 credit unions
4th
by Deposits
of 133 credit unions
Meridian Credit Union ranks 4th among Canadian credit unions by assets monitored by WOWA, 4th by loans, and 4th by deposits, as of December 31, 2025. You can view the complete list of Canadian credit unions here.
Meridian Credit Union Branch Locations
Chequing and Savings Accounts
The account-related data on this page was last updated on July 20, 2026.
Chequing Accounts
Chequing Account
1. Account: Essential Chequing Package
- Standard Fee
- $3.00/mo
- Free Transactions
- 15
- Max e-Transfer / Day
- $5,000
- Insurance Limit (Non-Registered)
- $250,000 per depositor
- Insurance Limit (Registered)
- Unlimited
Account details
- This account allows 15 free transactions. Maximum 5 of these transactions can be carried out in branch.
- Maximum Interac e-Transfer per day: $5,000
- Maximum Interac e-Transfer per week: $10,000
- This limit may vary depending on the client profile.
- Meridian Essential Chequing Package is a chequing account with 15 self-serve transactions, 5 in-branch transactions, and 4 rebated Interac e-Transfers per month. It has a $3 monthly fee, while additional self-serve or in-branch transactions cost $1.25 each, making it primarily suited to customers with lower transaction needs.
Deposit Insurance
Deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA), via the Deposit Insurance Reserve Fund (DIRF).
Chequing Account
2. Account: Everyday Chequing Package
- Standard Fee
- $9.00/mo
- Free Transactions
- 25
- Max e-Transfer / Day
- $5,000
- Insurance Limit (Non-Registered)
- $250,000 per depositor
- Insurance Limit (Registered)
- Unlimited
Account details
- The monthly account fee is waived if you maintain a minimum balance of $2,000 in your account.
- This account allows 25 free transactions. Maximum 5 of these transactions can be carried out in branch.
- Maximum Interac e-Transfer per day: $5,000
- Maximum Interac e-Transfer per week: $10,000
- This limit may vary depending on the client profile.
- Meridian Everyday Chequing Package is a chequing account with 25 self-serve transactions, 5 in-branch transactions, and 6 rebated Interac e-Transfers per month. It has a $9 monthly fee, which can be waived by maintaining at least $2,000 throughout the month. Additional self-serve and in-branch transactions cost $1.25 each.
Deposit Insurance
Deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA), via the Deposit Insurance Reserve Fund (DIRF).
Chequing Account
3. Account: Student Chequing Package
- Standard Fee
- Free*
- Free Transactions
- Unlimited
- Max e-Transfer / Day
- $5,000
- Insurance Limit (Non-Registered)
- $250,000 per depositor
- Insurance Limit (Registered)
- Unlimited
Account details
- This account allows Unlimited free transactions. Maximum 5 of these transactions can be carried out in branch.
- Maximum Interac e-Transfer per day: $5,000
- Maximum Interac e-Transfer per week: $10,000
- This limit may vary depending on the client profile.
- *This account is available for youth and students only.
- Meridian Student Chequing Package is a no-monthly-fee account for members ages 18 to 25 or eligible post-secondary students. It includes unlimited self-serve transactions, 5 in-branch transactions, 99 rebated Interac e-Transfers, and 2 cheques per month. Additional in-branch transactions and cheques are charged individually.
Deposit Insurance
Deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA), via the Deposit Insurance Reserve Fund (DIRF).
Chequing Account
4. Account: Unlimited Chequing Package
- Standard Fee
- $19.00/mo
- Free Transactions
- Unlimited
- Max e-Transfer / Day
- $5,000
- Insurance Limit (Non-Registered)
- $250,000 per depositor
- Insurance Limit (Registered)
- Unlimited
Account details
- The monthly account fee is waived if you maintain a minimum balance of $5,000 in your account.
- This account allows Unlimited free transactions. All of these transactions can be carried out in branch.
- Maximum Interac e-Transfer per day: $5,000
- Maximum Interac e-Transfer per week: $10,000
- This limit may vary depending on the client profile.
- Meridian Unlimited Chequing Package is a chequing account with unlimited self-serve and in-branch transactions, unlimited cheques, and 99 rebated Interac e-Transfers per month. It has a $19 monthly fee, which can be waived by maintaining a minimum balance of $5,000 throughout the month.
Deposit Insurance
Deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA), via the Deposit Insurance Reserve Fund (DIRF).
Savings Accounts
Savings Account
Account: Advantage Savings Account
- Interest Rate
- 0.05%
- Standard Fee
- Free
- Free Transactions
- 1
- Max e-Transfer / Day
- $5,000
- Insurance Limit (Non-Registered)
- $250,000 per depositor
- Insurance Limit (Registered)
- Unlimited
Account details
- This account allows 1 free transaction. Maximum 1 of these transactions can be carried out in branch.
- Maximum Interac e-Transfer per day: $5,000
- Maximum Interac e-Transfer per week: $10,000
- This limit may vary depending on the client profile.
- Meridian Advantage Savings Account is a no-monthly-fee savings account with tiered interest and 1 included self-serve and 1 in-branch transaction per month. Additional transactions cost $1.25 each. Non-registered accounts charge $1 per Interac e-Transfer, and the account is also available as a TFSA, RRSP, or RRIF.
Deposit Insurance
Deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA), via the Deposit Insurance Reserve Fund (DIRF).
Savings Account
Account: High Interest Savings Account (HISA)
- Interest Rate
- 0.85%
- Standard Fee
- Free
- Free Transactions
- Unlimited
- Max e-Transfer / Day
- $5,000
- Insurance Limit (Non-Registered)
- $250,000 per depositor
- Insurance Limit (Registered)
- Unlimited
Account details
- This account allows Unlimited free transactions. All of these transactions can be carried out in branch.
- Maximum Interac e-Transfer per day: $5,000
- Maximum Interac e-Transfer per week: $10,000
- This limit may vary depending on the client profile.
- Meridian High Interest Savings Account is a no-monthly-fee savings account with no minimum balance requirement. It includes unlimited self-serve and in-branch transactions and is available in non-registered, TFSA, RRSP, FHSA, and RRIF versions. Interac e-Transfers cost $1 on non-registered accounts, while bill payments and pre-authorized debits are not available.
Deposit Insurance
Deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA), via the Deposit Insurance Reserve Fund (DIRF).
Key Financial Metrics and Trends
| Metric | 2025 | YoY Change | 5-Year Change |
|---|---|---|---|
| Assets | $27,314M | +3.1% | +13.2% |
| Loans | $23,569M | +2.1% | +21.4% |
| Deposits | $19,450M | +2.7% | +15.1% |
| Loan-to-Deposit Ratio | 121.2% | — | — |
| Mortgages + HELOCs | $12,772M | +2.3% | +5.8% |
| Securities | $2,133M | -10.5% | +32.6% |
| Revenue | $604M | +12.1% | +15.5% |
| Efficiency Ratio | 69.4% | — | — |
| Target Members / Region | — | — |
Meridian Credit Union Deposits, Loans and Revenue in the Past 5 Years
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Contact
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