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Client Work

Desjardins Credit Union amalgamates with Meridian Credit Union

Fasken
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Overview

Client

Desjardins Credit Union

On June 1, 2011, Desjardins Credit Union and Meridian Credit Union completed their amalgamation, creating an Ontario credit union with 263,000 members and $8 billion in assets under management. The amalgamation includes all 19 Desjardins Credit Union branches, Central Loans Unit and Head Office. However, it excludes Desjardins Credit Union's six agencies which would be maintained and operated by Desjardins Group through the Fédération des caisses populaires de l'Ontario.Meridian Credit Union is Ontario's largest credit union with more than $6.6 billion in assets under administration. Desjardins Credit Union is Ontario's third largest credit union with $1.4 billion in assets under administration.Desjardins Credit Union was advised in this transaction by Fasken Martineau with a team that included Robert McDowell, Koker Christensen and Marvin Mikhail (M&A and regulatory); Kathleen Hanly and Kevin Yip (tax); Paul Casuccio (commodity tax); Ralph Nero (employment); Peggy McCallum (pensions); Douglas New (Competition Act); Francesco Tallarico and Juho Song (corporate); assisted by students-at-law Caitlin Fell and Mimi Palmer.

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