Meridian Credit Union’s 2018 Annual General Meeting, held on April 24, 2018 at Liuna Station, 360 James Street North, Hamilton, Ontario was an overwhelming success. In excess of 180 Members and guests were in attendance, and an additional 36 joined the meeting via webcast.
Who may attend the Annual General Meeting?
All Members are invited to attend and participate in Meridian’s Annual General Meeting (AGM). Your participation is part of what makes our credit union a unique place to do business.
What happened at the Annual General Meeting?
- Reports from Management, the Board, and the Audit & Finance Committee.
- Approval of the 2017 financial statements and appointment of the auditors.
- The results of the Directors’ Election, being held from April 2 to April 18, 2018, were announced and the newly elected Directors were introduced.
- The four successful Candidates elected to the Board of Directors were: Ken Bolton, Karen Farbridge, Colleen Sidford, and Bruce West. Each Director will serve a three-year term.
Several questions were asked by Members after the Q&A period concluded. Please find them below, along with Meridian’s responses.
Q: Is Meridian considering future participation in the credit union Acculink ATM network?
A: Meridian is continuously looking at opportunities to enhance our Member experience at our ATMs. Expanding to the Acculink network will not occur in the immediate future. However, consideration is always given to Membership accessibility through multiple channels and is regularly assessed.
Q: How much has developing the Meridian Bank cost? Has the IT component been completed on budget? How many staff presently work developing the Meridian Bank?
A: Meridian does not publically disclose the specifics of any internal staffing and expenses associated with any project. We can, however, confirm the project remains within approved plans and budget.
Q: With the ongoing cyber threats in the news and new companies being hacked, what steps are Meridian taking to ensure our online system and personal information will be kept secure from unwanted parties?
A: When it comes to the protection of our Member’s information, Meridian is proactive, prepared and takes cyber security very seriously. Meridian has made significant investments in the development and maintenance of a strong information security program. We have implemented, and judiciously maintain, industry best practice information and cyber security frameworks.
Meridian leverages best in class security systems that proactively monitor for the ever-growing range of cyber threats. Our information security professionals are certified and have extensive experience in the field. Further, we participate in a number of partnerships across the Credit Union and Financial Services space to share practices and collaborate on effective methods to protect against cybercriminal attacks.
External consultants and auditors are engaged regularly to review information security controls and processes in place. In these assessments, Meridian is regularly found to be a leader in this space placing well within the top quartile of the entire Canadian Financial Services industry. Meridian has also implemented an effective Computer Security Incident Response Team and set of related processes to ensure an immediate and prepared response to any incidents should they occur. Simulated cyber security exercises are conducted to ensure that Meridian is proactive in understanding and responding to threats in the industry today.
Members can remain assured that cyber security and the protection of their personal and financial information is a key priority.
We also encourage all Members to follow best practices protecting themselves from social and cyber security threats. You can find more information about Meridian’s security practices and helpful hints for consumers to follow to help safeguard their own data on our website – MeridianCU.ca