Meridian Credit Union

Meridian's physical workplace is rated as very good. The credit union maintains two primary office locations in St. Catharines and Toronto. The Toronto location is located downtown and steps away from great shopping and restaurants and the city's subway system. The St. Catharines' suburban head office is a short drive to Ontario's wine country and features an employee lounge (with comfortable seating, music, television and library reading room); a unique "Blue Ocean" innovation room that offers a variety of inspirational amenities (such as mind mapping software, play doh, puzzles and bean bag chairs) to encourage creative thinking; free parking; outdoor patio; free coffee or tea; free snacks.

Meridian's work atmosphere is rated as very good. Employees at Meridian Credit Union enjoy business casual dress; casual dress Fridays; can listen to music while working; employee sports teams; organized social events. Every year, the social committee organizes a rewards luncheon as well as a fun "Spring Fling" dinner and dance to celebrate the end of the winter season. The credit union also provides an budget for each department that can be used for holiday celebrations during the Christmas season. The credit union keeps employees informed and encourages ongoing feedback through a company newsletter; corporate intranet site; traditional suggestion box; email suggestion box.

Meridian's financial benefits are rated as very good. To keep salaries competitive the company participates in outside salary surveys every 12 months. Individual salaries are reviewed every 12 months. The credit union also provides signing bonuses for some employees; new employee referral bonuses (to $1,000 for some positions); year-end bonuses for all employees; year-end bonuses (to $49,800); defined contribution pension plan with employer contribution (up to 6% of salary); life & disability insurance; subsidized home and auto insurance; low-interest home loans. (The credit union's pension plan contribution ranges between 3% to 6% of salary, depending on the position).

Meridian's health and family benefits are rated as above-average. The credit union's health benefits plan is managed by Manulife Financial. As part of the health plan, the employer pays 100% of the premiums. Employees who work 15 hours per week receive coverage. The waiting period for new employees is 90 days. Employees receive full family coverage on the health benefits plan. The basic plan includes routine dental; restorative dental; orthodontics; eyecare ($200 every 2 years); traditional medicine coverage; alternative medicine coverage; massage therapy; medical equipment and supplies; employee assistance (EAP) plan; travel insurance. Meridian's family-friendly benefits include: maternity top-up payments (to 100% of salary for 8 weeks); parental leave top-up for new fathers (to 100% of salary for 8 weeks); parental leave top-up for adoptive parents (to 100% of salary for 8 weeks). Additional family-friendly benefits include: compassionate top-up payment (to 75% of salary for 4 weeks) while caring for a family member; flexible working hours; telecommuting; shortened work week (fewer hours with less pay); compressed work week; 2 paid-days off for emergency childcare situations (such as childcare emergencies); and 3 paid wellness days for personal growth and development activities.

Meridian's vacation and personal time-off are rated as very good. New employees receive 3 weeks of vacation allowance after their first year. Vacation increases after 10 years on the job. Long-serving employees receive a maximum of 5 weeks of vacation each year. Employees can schedule 3 personal days off each year, as needed. Employees receive 2 personal days off, as scheduled by their employer. Employees receive 8 paid sick days every year. Employees can also apply for an unpaid leave of absence. (Unpaid leave of absences can extend up to three months in duration).

Meridian's employee engagement program is rated as very good. Employees receive individual performance reviews every 6 months. Managers receive training in how to conduct effective performance reviews. Performance feedback is also solicited from co-workers and other managers familiar with each employee's work. As part of the review process employees can provide confidential feedback on their manager's performance. Meridian recognizes exceptional employee performance with gift cards, and individual cash awards (to $250) and team awards (to $1,000). Meridian sponsors its own in-house employee satisfaction survey. (Surveys are conducted every 12 months); Meridian hires an outside consultant to conduct confidential employee satisfaction and engagement surveys. (These surveys are held every 12 months).

Meridian's training and skills development program is rated as above-average. Employees receive tuition subsidies for courses related to their position. (The employer provides up to $3,000 in subsidies). Employees may also receive tuition subsidies for courses unrelated to their current position. (The employer provides up to $3,000 in tuition subsidies for non-related courses). (Tuition subsidy maximums range from $2,000 to $3,000, depending on the position.) Meridian also supports ongoing career development with subsidies for professional accreditations; in-house apprenticeship and skilled trades internships; in-house training programs; online training programs; formal mentoring program; career planning services; new employee orientation program; formal mangement training program.

Meridian's community involvement program is rated as above-average. Meridian Credit Union focuses its charitable program on local initiatives in the communities it serves. Employees take part in the selection of charitable groups assisted each year. Employees receive paid time off to volunteer with their favourite charitable organizations. Employees also receive 3 paid days off to volunteer. Last year, employees donated over 10,000 hours volunteering with charitable projects. Meridian directs its support to numerous community-building initiatives by generously donating a portion of its earnings to local charitable organizations through its "Good Neighbour" giving program -- last year, the credit union directed 4% of its pre-tax earnings back into the neighbourhoods it serves (more than four times the national average for corporate giving). Meridian and its employees supported numerous initiatives, including local United Way campaigns across the province, raising $177,000 last year.

Meridian sponsors and donates funds to a number of environmental charities, including the Speed River Cleanup in Guelph, where residents spend one day removing waste and litter from the river's waters and shoreline. The credit union also participates in the Greater Toronto Area's city-wide "20-Minute Makeover" initiative in the spring. As part of this undertaking, employees join with their neighbours and and clean litter and garbage off streets, parks and from other public areas.