CU Central of Ontario Tapped as Clearing and Banking Services Partner for Two of Province's Largest CUs
TORONTO - Alterna Savings and Meridian - two of the largest credit unions in the province of Ontario, Canada - have selected Credit Union Central of Ontario as their clearing and banking services partner. Central will provide the CUs with numerous banking services including check and item processing, cash management, electronic item processing and related activities. Alterna Savings has $1.8 billion in assets and Meridian has $3.3 billion. According to Central, the two CUs entered into the proposal process jointly after considering proposals from several vendors. Credit Union Central of Ontario with $1.8 billion in assets, represents 90% of the province's credit unions.