Member Structure
As part of Your Transition to Meridian, your accounts now follow Meridian’s Membership structure.
Members who had multiple Folios at any one Desjardins Credit Union branch have been transitioned into one Membership. This Membership contains all of the products from the multiple Folios. If you had Folios at different branches, they have been transitioned as separate Memberships. Multiple Memberships may be consolidated upon request.
Some key features of Meridian’s Membership Structure include:
- Consolidated view of all account and product holdings under one Member number.
- You only need to remember one number to access your accounts and products.
- Membership shares are included with your other products and accounts under your individual Meridian Member number.
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Membership Shares
At Meridian, all Members are required to hold either five $5 shares (adults) for a total of $25 or two $5 shares (youths) for a total of $10. As a former Desjardins Credit Union Member, your existing shares were transitioned and you received a share top-up during transition to ensure you have five $5 shares (adults) or two $5 shares (youths). This top-up was funded by Meridian.
Please Note:
- Each Member is required to have their own Member number where their Membership share and all solely owned products reside.
- If you use Meridian’s Online Banking service, you can view the share holdings along with your accounts and products.
- If you hold a joint account with another person(s), an individual Member number (with shares) has been created for each Member in that account. Joint relationships do not have a Membership share, and all products held under the joint Member number belong to all participants in the joint relationship.
- Accounts held In Trust for a beneficiary do not require Membership shares, however, the Trustee(s) must be a Member and hold the required number of Membership shares under their individual Membership.
Holding these Membership Shares entitles you to full Membership privileges including the right to cast a vote for Director Elections and Special Resolutions.
If you have any questions regarding Meridian’s Membership structure or shares, please contact your branch or call 1-866-592-2226.
