Meridian Remains Ontario’s largest certified Living Wage Employer
TORONTO, ON, November 18, 2024 – Meridian Credit Union, Ontario’s largest credit union, is pleased to announce the alignment of its Living Wage strategy with the Ontario Living Wage Network’s (OLWN) recent recommendations. In the new year, Meridian employees will receive a base rate of $24.50 per hour, an increase of 3.2% from the 2023/24 rate of $23.74 per hour.
This adjustment is part of Meridian’s broader initiative to provide a comprehensive and competitive compensation package that includes robust benefits, professional development opportunities, and a supportive work environment.
Meridian’s Living Wage strategy reflects the organization’s ongoing commitment to supporting the financial well-being of its employees. This update aligns with the credit union’s broader mission to foster a supportive and equitable workplace, ensuring all employees have the means to live comfortably and participate fully in their communities.
“Ensuring that our team members are compensated fairly and equitably is fundamental to our culture at Meridian,” said Patty Johns, Chief People & Culture Officer at Meridian Credit Union. “Aligning our Living Wage strategy with the Ontario Living Wage Network recommendations reflects our commitment to our people, their well-being, and our values as a purpose-driven organization. We believe that a fair wage is essential to creating a thriving workplace where employees feel valued and supported.”
As part of its commitment to fairness and equity, Meridian regularly reviews its compensation practices to align with changes in provincial regulations and broader market trends. This proactive approach ensures that Meridian remains an employer of choice, attracting and retaining top talent who are committed to delivering exceptional service to Members.
About Meridian
Meridian is Ontario’s largest credit union, and one of the largest in Canada. Guided by our purpose, “helping you achieve your best life,” Meridian delivers personal, and wealth financial business solutions to over 380,000 Members – including our employees. Our bold Meridian for Good strategy is aimed at helping people get access to the money and advice they need; plan for a better future that is clean, resilient, and diverse; and be financially confident. Meridian has two operating subsidiaries: Meridian OneCap Credit Corp (“MOCC”) and motusbank. For more information, please visit: meridiancu.ca.
We acknowledge the land on which we operate is the traditional territory of many nations including the Mississaugas of the Credit, the Anishinaabe, the Chippewa, the Haudenosaunee and the Wendat peoples and now home to many diverse First Nations, Inuit, and Métis. We also acknowledge that Toronto is covered by Treaty 13 with the Mississaugas of the Credit.
Media contact: Erick Bauer, Meridian, Erick.Bauer@meridiancu.ca; 416-587-4185