2024 showcased Meridian Credit Union’s resilience, strategic vision and commitment to delivering exceptional value to our Members and communities. Despite the challenges presented by economic uncertainty, Meridian has continued to thrive, thanks to strong governance, innovative leadership and the unwavering dedication of our employees.
This year, a key focus for the Board was strengthening Meridian’s governance to ensure that we are positioned to navigate an ever-changing financial landscape. Building on the solid foundation laid by my predecessor, Karen Farbridge, I had the honour of stepping into this role with the benefit of her leadership and guidance. Her contributions have left an enduring legacy that continues to guide our strategic direction and decision-making.
A highlight of 2024 was the successful launch of Meridian’s new brand initiative, “Around here, banking is different.” This campaign underscores our cooperative values and the commitment to putting Members first. The Board played an active role in supporting this transformative initiative, recognizing its importance in deepening Member relationships, enhancing the Member experience and solidifying Meridian’s competitive position.
In addition to brand-building, the Board worked closely with our executive team to address the economic headwinds that affected Canadians this year. Rising mortgage rates and a challenging real estate market added complexity to our Members’ financial journeys, but Meridian rose to the occasion. Through personalized guidance and innovative solutions, we remained a trusted partner, reinforcing our commitment to helping our Members achieve their goals.
Engagement with the broader credit union sector was another priority in 2024. Representing Meridian at events such as the CCUA Conference in Calgary and the World Credit Union Conference in Boston reinforced the vital role credit unions play in advancing financial well-being. Notably, Meridian played a leadership role and demonstrated our voice as one of the largest credit unions in Canada, particularly within the Large Credit Union Coalition (LCUC). These forums allowed us to exchange insights, amplify our voice within the cooperative movement and bring fresh perspectives back to Meridian.
Sustainability and community impact were also central to our governance focus. Meridian’s efforts to integrate ESG principles into its operations continue to set us apart. From reducing our environmental footprint to expanding charitable partnerships, we remain committed to building a more sustainable and equitable future while simultaneously building the financial confidence of our Members who face economic barriers, through our social impact efforts.
The Board made substantial progress in the areas of diversity, equity, inclusion, belonging and reconciliation (DEIBR) in 2024. We are particularly proud of our collaboration with Cadmus Delorme, who helped us understand the governance role we can play in Reconciliation. Additionally, we engaged an expert in DEIBR to assist us in developing a board vision. These efforts have significantly contributed to shaping our approach and fostering an inclusive and equitable environment within Meridian.
We were also incredibly proud to celebrate the recognition of our CEO Jay-Ann Gilfoy as a business leader to watch in 2025. This well-deserved accolade reflects her exceptional vision and leadership, which continue to drive Meridian’s success and inspire confidence across the organization.
The strength of our Member relationships remains our foundation. The Board has been heartened by the continued growth in Member engagement, even during a challenging year. This is a testament to the incredible efforts of our employees, who consistently go above and beyond to serve Members with care, expertise and dedication.
As we look ahead to 2025, the Board remains focused on ensuring Meridian is prepared for the opportunities and challenges to come. Together with our leadership team, we are committed to delivering long-term value for our Members, employees and communities.
Thank you for your trust, loyalty and partnership. It is an honour to serve as your Board Chair, and I am excited about the bright future we are building together.
Sincerely,
Suanne Nielsen
Board Chair, Meridian Credit Union