In this exclusive interview with CanadianSME Small Business Magazine, Dilys D’Cruz, Senior Vice President of Retail & Wealth at Meridian Credit Union, shares her inspiring journey as a leader in the financial services industry. With over 25 years of experience, Dilys has been at the forefront of transforming Meridian’s wealth management division, doubling its assets and expanding its team. She discusses her personal journey navigating financial challenges, particularly as a single mother, and how these experiences have shaped her passion for empowering women to take control of their financial futures. Dilys also highlights Meridian’s commitment to fostering a supportive, inclusive environment for women investors and entrepreneurs, offering invaluable advice for those looking to build a career in finance.
As Senior Vice President, Retail & Wealth, Dilys D’Cruz is responsible for leading both
the Meridian Wealth and Retail lines of business, creating a integrated focus and
accountability for how we provide exceptional value and transformational experiences to our current and prospective Members. Previously, Dilys served under the title of Vice President and Head of Wealth Management at Meridian. Tasked with transforming the already successful business into a high-performance culture that would sustain fast-paced future growth, Dilys helped inspire her team to embrace the journey with a clear new vision.
Under her leadership, Meridian wealth doubled its AUA to over $4Billion and almost doubled the Wealth team to 115 employees. Prior to, Dilys held the VP, Community Banking, position at Meridian, leading a Region with a book of business of over $11B.
Previous to Meridian, Dilys held a number of progressively challenging roles at TD
bank, culminating as District Vice President of the GTA Region. This involved managing overall business operations for all branches in one of Canada’s highest net worth districts, growing the book of business by 32%, and overseeing 300 employees and 17 direct reports.
As a leader in the financial sector, you’ve witnessed firsthand how women’s values around money can impact investing and financial planning. How do these unique perspectives serve as both strengths and potential roadblocks for women entrepreneurs and investors?
Women are more financially powerful and influential than ever, yet significant gaps remain in confidence and investment participation, especially among younger generations.
Nearly half of Canadian women feel less confident about their financial future compared to their male counterparts. This gap widens among Millennial and Gen Z women, who frequently express higher anxiety around financial decision-making.
70% of Millennial women worry about their long-term financial stability. Key factors driving this anxiety include housing affordability, student debt, income disparity, and challenges associated with starting families.
Financial institutions historically haven’t effectively represented women’s unique experiences or communicated in a way that resonates with them. At Meridian, that’s something we’re working hard to empower younger women through education, engagement, and supportive financial products.
Given the current uncertain economic climate, what key advice would you offer to women entrepreneurs operating small and medium-sized businesses regarding their investment strategies and financial planning?
- Set clear financial goals: Whether short-term (home ownership, travel) or long-term (retirement), clearly defined goals help guide investment decisions.
- Diversification is key: Don’t put all your resources into a single type of investment—balance across various sectors, asset classes, and risk levels.
- Talk openly about money: Engage with peers, mentors, and reach out to a variety of professional advisors to find a financial planner – or an external money and investing support team — that’s a good fit for your values and goals.
- Avoid high-risk, high-pressure situations: If something sounds too good to be true, it often is. Approach each investment opportunity thoughtfully – and listen to your intuition.
- Avoid excessive reliance on social media influencers for financial advice: Influencers can be useful for inspiration, but professional advice should always come from accredited financial planners or trusted institutions that know all the ins and out of your unique finances and can help you evaluate opportunities from the bigger picture perspective of your overall financial risks and goals.
Your personal experience with divorce and financial reset has shaped your approach to leadership and client relations. How has this journey influenced your perspective on financial wellness, and how do you incorporate these insights into Meridian’s services?
When I went through my divorce, I was a financial executive at the time leading a $12B team of 16 branches and had full access to financial advice. However, I had so much to juggle with 3 kids aged 6 to 14 , a demanding career and navigating a contentious divorce, I was just trying to keep my head above water in all regards. I didn’t have time to stop and get proper advice. When I joined Meridian and my divorce was finally settled, I became passionate about educating women at all stages of life on taking control of their financial futures. It hit me that, if I a financial executive with knowledge and access to financial advice, was feeling over-whelmed , I couldn’t imagine how women without this knowledge and access were managing through their own personal life events (divorce, death or sickness of spouse, managing as a single person, etc).
As a result, I became focused on empowering women to “take control” of their financial futures and I embedded this into our business strategy. We built a program called “Her Cents” which is on our Meridian website and has very relatable and easy to understand webinars and masterclasses to help women. All our Wealth Advisors were trained on including the female partners of their male clients in their financial update meetings and we asked them all to do local seminars/webinars focused on educating and building women’s financial confidence. This still exists today
Meridian Credit Union stands out for its community-focused approach and leadership in ESG initiatives. How does this ethos translate into tangible benefits for your members, particularly women investors and entrepreneurs?
Meridian Credit Union is committed to empowering women investors, acknowledging unique financial needs, and supporting women in achieving greater financial confidence and independence.
We create accessible financial programs to help educate women and better equip them to manage their finances.
Most important, Meridian offers a different banking experience. Our branch teams and wealth advisors foster inclusive, judgment-free environments that encourage women to openly discuss finances, ask questions, and build their knowledge. I really encourage anyone who hasn’t had the courage or opportunity to speak with a professional about their money, to reach out to us at Meridian and see if we can help you talk things through and develop an investing and financial game plan that’s right for your business and your personal financial future.
What advice would you give to young women aspiring to build a career in finance, based on your experiences as a C-suite executive in some of Canada’s largest financial institutions?
Go for it! We need you. Building a career in financial services – especially as a wealth advisor – is so rewarding. Helping to empower others to reach their full financial potential is an honour that requires empathy, curiosity, an analytical, fact-based mindset — and an understanding of the essential role of financial security in powering people’s dreams.
Most young women shy away from a career in Wealth because they think you have to be a “math whiz” – this is not the case at all! Most of all we look at emotional intelligence and empathy – how do you relate to people and do you have a desire to help people achieve their goals. We teach the rest.
Taking “risk” in your career is important – jump into something you don’t know. I never thought I would be leading a Wealth team and here I am leading both Retail Banking and Wealth – the more you say “yes” to the more opportunities will come your way
