Meridian holds the position as the biggest credit union in Ontario, and the third biggest country-wide. The company recently created a new subsidiary named Motusbank, a full-service digital bank that’s set to change the way Canadians handle their finances.
What’s Different About Motusbank
Motusbank, much like its parent credit union, has a member-centric approach to banking. Members enjoy access to the full retail product line and receive favourable pricing since shareholders are not a part of the credit union banking model. The competitive rates and fees provide plenty of incentive to take a look at this digital bank.
Online and mobile banking are included, which provides access to all of the bank’s services. One area that stands out is the digital mortgage platform. Savings and checking accounts do not have any fees, and Motusbank includes access to the no-fee ATM network The Exchange. David Baldarelli, Motusbank’s COO says “We’ve responded to what Canadians want by developing a simple and intuitive digital platform that makes banking feel good, and an experience that makes people feel valued and secure.”
Motusbank welcomes member feedback and uses this information to make decisions about the types of products and features it will offer in the future. The company says the service will evolve over time and continue to look for ways to maintain the customer experience. When people run into trouble, they receive member support through a fully staffed contact center.
When is Motusbank Launching
The Motusbank launch is currently scheduled for Spring 2019. The bank plans on launching with a special mortgage offer that’s only available for new Motusbank members.
Motusbank is an exciting new venture by the well-established Meridian credit union and a way for it to provide high-quality banking services for all Canadians. Bill Maurin, President and CEO of Meridian and Motusbank, says “We are building on Meridian’s unique, member-centric focus and bringing the Meridian experience to all Canadians. Motusbank will treat members as true partners, offering an exceptional digital experience, along with some of the most competitive rates and fees in the country.”
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