By Will Novosedlik
If you’re having difficulty finding a contractor to work on your home renovation or new build, don’t hold your breath. It’s only going to get harder. According to the federal government, it’s estimated that between now and 2028, approximately 700,000 skilled tradespeople will be retiring as Baby Boomers age out of the workplace.
With the housing crisis worsening, Meridian – Ontario’s largest credit union with 365,000 members and assets under management of $30 billion – saw a role it could play in addressing the issue.
“Last year, under the leadership of CEO Jay-Ann Gilfoy, we launched a new strategy that we call Meridian for Good,” explains Matthew Seagrim, chief digital and marketing officer. “It’s a purpose-driven growth strategy. It’s about building access to money and advice for our members, enabling our members to plan for a better future, and helping individuals and businesses build financial confidence.”
An example of that is Meridian’s partnership with Community Builders, a leading not-for-profit construction-based social enterprise in Simcoe County and Greater Sudbury, on a newly launched skilled trades learning and development program called Meridian Reframe Program. Community Builders provides training, employment, and affordable housing to meet the growing needs of the community’s most vulnerable and at risk populations.
“We run a program called Small Business Big Impact, where we acknowledge and reward small businesses [like Community Builders] that are making a meaningful impact in their communities,” says Seagrim. “[Meridian’s new] Reframe program… fits into that strategy in a number of different ways. It helps individuals who may have had barriers to employment for a variety of reasons get the access, training and mentorship to get into skilled trades.”
Seagrim adds that the Reframe program has allocated $250,000 toward financially supporting those individuals, and also includes access to Meridian financial coaches. “Not only are we helping to address housing affordability in Ontario, but we are also helping to address employment challenges and giving people access to opportunities who may not otherwise be able to find them.”
Meridian’s Reframe program launched in Barrie on February 26. The brand has teamed up with HGTV host, skilled tradesman and former CFL player Sebastian Clovis, who will be following the progress of individuals who go through the program. The plan is to feature their stories as part of a social deployment strategy. A fully integrated marketing strategy is still in development as the credit anticipates a relaunch of the Meridian brand next quarter.