On September 25, 2019, Meridian Credit Union Limited (‘’Meridian’’) completed a private placement transaction by making an investment in a private financial services technology company. This company provides innovative software and customer services to both Meridian and its wholly-owned, federally chartered bank affiliate, Motus Bank.
Meridian is the third largest credit union in Canada, and the largest in Ontario, serving more than 350,000 members with total assets under administration of over $21.6 billion (as of May 31, 2019). Meridian offers banking, wealth management, credit products and other services through 91 branches, and 13 commercial business centres.
Miller Thomson advised Meridian in this transaction with a team that included Geoff Clarke and Jonathan Tong (Capital Markets & Securities) as well as Karen Durell (IP).