Alberta, British Columbia, Canada, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Online, Ontario, Prince Edward Island, Quebec, Saskatchewan, Yukon
Pay Off Up To 20% More Of Your Mortgage With Meridian - Claim this offer
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Meridian is a credit union based in Ontario that provides quality banking services such as personal banking, business banking and wealth advice. With over 365,000 members, they strive to continuously find ways to innovate their products for Canadians to achieve better lives.
One of the benefits you can access from Meridian is its personal banking services such as accounts, credit cards, loans & lines, mortgages, insurance and investing. They offer high-interest savings account starting from a rate of 1.25%, an 18-month guaranteed investment certificate with a starting rate of 4.10% and a 5-year fixed rate mortgage of 6.95%.
The chequing account features unlimited free deposits, four free Interac e-Transfers per month, free unlimited use of their price drop feature, overdraft protection, eligible deposits that are insured up to $250,000, and more.
Meridian’s savings account features unlimited free deposits, free unlimited use of their price drop feature, and access to over 43,000 surcharge-free ATMs in North America. These eligible deposits are insured for up to $250,000 and more.
Some examples of their credit include The Meridian Visa Cash Back Card, which allows you to save up to 4% cash back with no annual fee, while the Visa Platinum Cash Back Card will enable you to grow your savings with 2% cash back and free travel rewards.
Their personal loan and lines of credit are usually fixed with an option for a variable rate, flexible payments, ongoing access to funds and credit for emergencies. The home equity line of credit has a starting variable rate of 4.20% with constant access to funds and flexible payments.
Meridian’s mortgage services offer an option for you to pay up to 20% of your mortgage each year, have flexible payment options, skip a payment when you need to, get up to 5% cash back from your mortgage principal and be mortgage free sooner.
Their insurance services include mortgage protection, creditor insurance and travel insurance, which protects you from life, disability, illness, unemployment and unforeseen emergencies during travel. They also offer investment opportunities for retirement, education, disability savings and tax-free savings account.
The second benefit you can access from Meridian is its business banking services such as accounts, credit cards, business solutions, financing options, investing and business resources. The business credit cards offer exclusive benefits with no annual fee for the first year, low-interest rates, insurance, and rewards on purchases.
Their business solutions include online banking, automatic funds transfers, express cheque deposit, manageable receivables (CCIN), online tax payments, managing payroll and Interac e-Transfer for business. Their business financing includes short-term financing to long-term funding, industry and specialty programs and government financing programs, with ongoing credit access.
Meridian’s investment services have unlimited coverage and are insured for up to $250,000. These include Cashable GICS, Raise The Rate GIC, Non-Redeemable GICs and market-linked GICs. Additionally, they offer business resources for starting, growing, managing and transitioning businesses and tools, including break-even calculators, business checkups, financial scores and online banking guides.
Alberta, British Columbia, Canada, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Online, Ontario, Prince Edward Island, Quebec, Saskatchewan, Yukon
Since 2005
Finance
English
Meridian is a credit union based in Ontario that provides quality banking services such as personal banking, business banking and wealth advice. With over 365,000 members, they strive to continuously find ways to innovate their products for Canadians to achieve better lives.
There are lots of reasons why you should join Meridian. Some examples include:
Meridian’s savings and chequing accounts have a $0 monthly fee while services like loans, lines of credit, mortgages, insurance, and other services have rates depending on your choice. Additional services like money transfers, bank drafts, debit transaction fees etc., can be found in a more detailed version of Meridian’s fees here.
To get started with Meridian, we recommend going on their website and signing up for an account if you live or work in Canada. You must fill in personal information depending on which service you choose.
Meridian is 100% online secured, and a regulated financial institution that ensures all money is safe. Additionally, all deposits are insured for up to $250,000 per member.
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Would definitely NOT recommend Meridian for a mortgage. My daughter and her partner both have great paying jobs and a significant down-payment of nearly 30%. They jumped through a myriad of hoops to get pre-approved about a month ago and purchased a home about 2 weeks ago. After waiting for final approval for just over 2 weeks, they were denied their pre-approved mortgage based on “flooding concerns”. The home is in Burlington near the lakeshore and has no basement which really should have no bearing as that is what homeowners insurance is for.
It seems apparent that this is a contrived excuse because they don’t wish to honor the lower rate they had committed to in light of recent BOC prime rate hikes.
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