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Upcoming changes to motusbank accounts

motusbank deposit and loan accounts will be moving to Coast Capital on November 1, 2025. 

An important message for our motusbank members

On November 1, 2025, deposit and loan accounts will be moving to Coast Capital Savings Federal Credit Union (“Coast Capital”).  

Member accounts remain safe and secure, and this transition will provide members with uninterrupted service. Eligible deposits continue to be insured by the CDIC. Following the transition of member accounts, motusbank will wind down, pending regulatory approvals. 

We've compiled the information below, which outlines what this change means for you, your accounts and any actions required.  

Coast Capital will be sharing your new account access details this month. For more information on the transition, please visit coastcapitalsavings.com/welcome

Service change dates to note

To help you prepare for upcoming service changes, we've outlined key dates below. Rest assured, we're here to support you through this transition—if you have any questions or need assistance, please contact our Member Service Team at 1 (855) 219-1437.  
 

Impact Date Service Notification
September 17, 2025 As of September 17, 2025: you will no longer be able to order cheques.
October 19, 2025 As of October 19, 2025: you will no longer be able to order a new debit card.
October 19, 2025 As of October 19, 2025: you will no longer be able to use the Money Mover feature to transfer funds between externally linked accounts. You’ll still have access to your money through Interac e-Transfer® or at an ATM. You can also call the Member Service Team to help facilitate fund transfers.
October 31, 2025 Please carry a secondary form of payment such as a credit card or cash from October 31 to November 1.
October 31, 2025 Please ensure that no scheduled bill payments or e-Transfers are due to be accepted or received from your motusbank account after 4:00pm (ET) October 31, as these will not be processed once your accounts have been moved to Coast Capital. Any e-Transfers not accepted by that time will be cancelled and recredited to your motusbank account prior to the transition to Coast Capital.

Important next steps for members

To prepare for the transition to Coast Capital, there are a few important things to take care of:

Prepare for the transition of your accounts

Please ensure that no scheduled bill payments or e-Transfers are due to be accepted or received from your motusbank account after 4:00pm (ET) October 31, as these will not be processed once your accounts have been moved to Coast Capital. Any e-Transfers not accepted by that time will be cancelled and recredited to your motusbank account prior to the transition to Coast Capital.

While we expect that accounts will transition seamlessly, there may be a brief interruption in service during the transition window. We recommend carrying a secondary form of payment (e.g. cash, credit card) on October 31 and November 1.

How to update your contact information

Change information inside online banking

1. Sign in to online banking
2. Select ‘Settings’ in the top navigation
3. Scroll to ‘Profile Settings’ and select the icon for ‘About Me’
4. Edit your contact information and select ‘Save’ at the bottom of the form

Send a secure message inside online banking

1. Sign in to online banking
2. Select ‘Secure Message’ in the top navigation
3. Select ‘New Message’

or

Call us at 1 (855) 219-1437

How to download your motusbank statements:

1. Sign in to online banking
2. On the Account Summary Page, select ‘Download Monthly Statements’ in the right-side navigation
3. Select a date, then select ‘Download’ for each statement as required

 

 

Why is motusbank winding down?

Meridian, motusbank’s parent company, has made the decision to sharpen its focus on growing as a Member-owned organization and Ontario’s largest credit union. motusbank remains committed to the financial success of its members across the country, and has arranged for motusbank accounts to transition to Coast Capital in the coming months.

Most Ontario lending products have moved to Meridian 

For most members located in Ontario, lending accounts were transitioned to our parent company, Meridian, effective May 1, 2025. Lending accounts included mortgages, lines of credit, and home equity lines of credit. If your lending accounts were transitioned to Meridian, you should have received a letter in the mail in late March.  

Transition of deposits and remainder of lending products to Coast Capital

We chose to partner with Coast Capital, a federal, member-owned credit union to help support your financial needs. Coast Capital aligns with motusbank’s values and is as committed to you as we are. All lending accounts held in provinces outside of Ontario, a small selection of lending accounts held in Ontario, and deposit accounts from all provinces will be transitioned to Coast Capital. Accounts will transition to Coast Capital on November 1, 2025.  

What happens next for accounts transitioning to Coast Capital?

Until the transition to Coast Capital on November 1, 2025, your accounts will continue to be available through motusbank as they are today.

On November 1, 2025, your accounts will transition to Coast Capital automatically, with limited action required from you. In the coming weeks, Coast Capital will contact you about account access and other administrative details. For more information on the upcoming transition to Coast Capital website, coastcapitalsavings.com/welcome.

Some accounts are unaffected

A small number of products will not be transitioned to Meridian or Coast Capital. These accountholders have been contacted directly and will be supported to move their products to a financial institution of their choice.

Your money will remain secure  

  • Throughout the transition process, we are working closely with all applicable regulators to ensure that member funds are protected, and the wind down process is managed transparently and efficiently. 
  • motusbank deposits remain eligible to be insured by the CDIC.

Learn more about the upcoming transition

Visit Coast Capital’s website at coastcapitalsavings.com/welcome or check out our FAQ page for valuable information and more details. Questions? We’re here to help. Contact our Member Service Team at 1 (855) 219-1437, Monday to Friday, 8:00 a.m. to 8:00 p.m., or on Saturday, 8:00 a.m. to 4:00 p.m., or send us a secure message via motusbank online banking.

At Meridian, membership is rewarding

Meridian offers the same wide range of accounts and services as the big banks, enhanced with experts who offer one-on-one advice. Learn more about all the great things that come with being a Meridian Member.