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Upcoming changes to motusbank accounts

motusbank deposit and loan accounts will be moving to Coast Capital in the coming months. 

An important message for our motusbank members

In the coming months, 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. motusbank is slated to wind down in the coming months, pending all regulatory approvals. Exact timing of the account transitions and when motusbank will cease operations will depend on approval from financial regulators.   

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

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 call the Member Service Team to help facilitate fund transfers.


 

Important next steps for members

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

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. Transition of these accounts is subject to regulatory approval. Please contact us if you would like clarity on what is moving to Coast Capital. 

What happens next for accounts transitioning to Coast Capital?

Until regulatory approval is confirmed, your accounts will continue to be available through motusbank as they are today. Once regulatory approval is received, you will be notified of the anticipated transition date to Coast Capital via email. 

Your accounts will be transitioned automatically with limited action required from you. In the coming months, Coast Capital will contact you about account access and other administrative details. For more information on the upcoming transition to Coast Capital, check out the Coast Capital website, which will be updated regularly.

Some accounts are unaffected

A small number of products will not be transitioned to Meridian or Coast Capital. These accountholders will be contacted directly and 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.

Watch this page for updates

We will update this page with further details over the course of the wind down process. We recommend checking out our FAQ page for valuable information and more details. In the meantime, 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.

Your money will remain secure

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

Watch this page for updates

We will update this page with further details over the course of the wind down process. We recommend checking out our FAQ page for valuable information and more details. In the meantime, 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.

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

Two ways to learn more

Read the press release   Explore the FAQ