As I reflect on 2024, this year has been one of resilience, innovation and transformation at Meridian Credit Union. While navigating economic uncertainty, we remained steadfast in our commitment to helping Members achieve their financial goals, fostering stronger communities and advancing our vision for a better future. The team at Meridian worked very hard against many external headwinds and I am proud of their passion and commitment to our organization and Membership.
The economic challenges of 2024 were significant. Rising mortgage rates, a volatile real estate market and broader financial pressures created a complex environment for many of our Members and business owners. We offered personalized guidance and solutions tailored to their needs. Whether it was assisting with mortgage renewals or providing financial strategies to navigate uncertain times, our teams demonstrated the strength of our cooperative values and our dedication to Member success.
We strengthened our position as a trusted partner for entrepreneurs and business leaders. From helping businesses secure the financing they need to offering innovative solutions that drive growth, our Business Banking team has consistently delivered value and built lasting relationships. These successes reflect the strength of our Member-first approach and our unwavering focus on creating meaningful impact.
2024 also marked an exciting milestone with the launch of our new brand initiative, “Around here, banking is different”. This brand position has helped us tell the story of how Meridian is different as a banking partner who wants to help our Members achieve their best lives. We have profiled actual Members in our brand assets, demonstrating our authentic differentiated approach and how it has impacted their success. It has energized our team, strengthened our connection to Members and positioned us as a leader in delivering personalized, purpose-driven financial services.
We made significant progress in enhancing the Member experience. Through continued investment in technology and innovation, we’ve created seamless interactions across physical and digital channels, including the introduction of new tools to help Members manage their savings, loans and investments with greater ease and confidence. These advancements are part of our ongoing journey to ensure we remain a trusted partner in achieving financial goals.
We achieved several industry-leading recognitions in 2024. These include:
- Being ranked as the #1 Credit Union for Online Banking in Canada and the Best Digital Banking Experience in Canada, ahead of all financial institutions, by Surviscor.
- Recognition as a Hamilton-Niagara Top Employer for 2024, celebrating our workplace culture and commitment to employee well-being.
- Being named a Greater Toronto Area Top Employer for 2025, showcasing our dedication to fostering a supportive, engaging and inclusive work environment.
Our commitment to putting Members first extends beyond financial products and services. In 2024, we prioritized sustainability and community impact, deepening our focus on ESG principles. From enhancing financial confidence programs to supporting initiatives that improve the environment and expanding our charitable partnerships, we are actively working to create a more equitable, inclusive and sustainable future. This includes taking meaningful steps to reduce our own environmental footprint and embedding ESG considerations into our decision-making processes. These efforts reflect our belief that doing good for the planet and for people is essential to long-term success.
Of course, none of this would be possible without a foundation of financial strength and resiliency. In 2024, we maintained a strong bottom line amidst difficult times for many of our Members. This enables us to reinvest in our business, employees and communities so Members can be better served. By prioritizing growth and profitability, we are ensuring that Meridian is well-positioned to serve Members for generations to come.
In this dynamic environment, Meridian’s 100% Canadian Member-owned model, rooted in strong fundamentals, helps us navigate these uncertainties with confidence. Our guiding principle is to help create opportunities for business owners and individuals in Ontario to achieve their best life. Our commitment to growing in Ontario remains steadfast, as we aim to strengthen our presence across the province and connect with more Members who value our unique approach to banking. By doubling down on our purpose-driven difference, we are determined to demonstrate how Meridian can be a trusted partner for financial success and community prosperity.
As we look ahead to 2025 and beyond with the uncertainty around us, resilience continues to be on my mind and we will relentlessly focus on our technology investment, constantly improving our Member experience, helping you plan for a brighter future.
Together, we will continue to show the world that “Around here, banking is different.”
Thank you for being part of our journey.
Sincerely,
Jay-Ann Gilfoy
President and CEO, Meridian Credit Union