Invest in Good – Series 23 shares
Why invest in Meridian Invest in Good – Series 23 Shares?
Available now, and only until September 29th**, Invest in Good – Series 23 Shares are an exclusive investment opportunity for Meridian Members. By investing in Series 23 Shares, you’re investing in Meridian directly. The funds*** raised through the sale of Invest in Good – Series 23 Shares are used to enhance our products and services and invest in community programs. In return, you can earn an annual 6.50%* minimum dividend rate (provided the Board declares a dividend for the series) and an opportunity to diversify your investment portfolio. Invest in Good – Series 23 Shares are available for registered (TFSA, RRSP, RRIF) and non-registered accounts.
Support for communities
When you invest in Meridian’s Invest in Good – Series 23 Shares, you contribute to all the ways we help individuals and communities become financially confident.
High rate of return
Invest in Good – Series 23 Shares have an annual 6.50%* minimum dividend rate, provided the Board declares a dividend for the Series. The rate is effective for the first 5 years.
Low minimum investment
You don’t need a lot of money to buy Invest in Good – Series 23 Shares. A great addition to any portfolio with a minimum investment of just $5,000.

Members can redeem existing, non-redeemable GIC investments without a penalty to purchase Invest in Good – Series 23 Shares. Market-linked GICs are the exception and cannot be redeemed.

The annual minimum dividend rate for Invest in Good – Series 23 Shares is 6.50%*. If and when the Board declares dividends, they are paid to shareholders, annually, on the dividend payment date. The type of dividend payment (shares or cash) is typically determined by the investor. However, the Meridian Board of Directors can mandate a specific type of payment.
With 75 years of history in Ontario and almost 30 billion in managed assets, investors can be confident about investing in Meridian. Explore our 2022 annual report to learn more (PDF, 4.7MB)
Invest in Good - Series 23 Shares are a unique opportunity for Members to share in Meridian’s growth and success, while making a positive impact in our communities. Class A Shares are part of Meridian’s strong and secure capital used to grow the business by funding product and service enhancements and investing in community programs. Meridian’s strong financial results in recent years positions us to be able to share our earnings with our Members and allows us to offer a competitive dividend rate with confidence.
With a minimum purchase investment of $5,000, more of our Members can participate and invest in Meridian. The funds raised through the sale of Invest in Good – Series 23 Shares will be used to enhance our products and services and invest in community programs.
- Invest in Good – Series 23 Shares are available to Meridian Members based in Ontario only.
- Purchasing Invest in Good – Series 23 Shares does not entitle a Member to additional membership votes.
- The income earned on Invest in Good – Series 23 Shares is taxed as interest income, whereas income typically earned on common shares is taxed as dividends.
- There is no secondary market (stock market) where Invest in Good – Series 23 Shares can be traded.
Invest in Good - Series 23 Shares are available to individual Meridian Members (age 18 and over) residing in Ontario as well as corporations, partnerships and formal trusts based in Ontario.
Members can request to transfer their shares at any time. Meridian will attempt to facilitate a transfer by matching a Member looking to sell their shares (the seller) with a buyer from our waiting list. If you transfer your shares to another Member, you’ll get back your original purchased amount.
No redemptions are permitted until the fifth anniversary of the issue date (except upon death of the shareholder). The maximum redemptions in any fiscal year cannot exceed 10% of the total shares issued and outstanding shares at the end of the preceding calendar year. This is subject to Board approval and Applicable Law.
The minimum purchase amount is $5,000 while the maximum purchase amount is $2,000,000 for each Member. Each share costs $1.
6.50% is the minimum dividend rate, which is subject to change after the initial 5 years, as outlined within the Offering Statement, and each five years thereafter. The annual dividend rate can be higher than the minimum dividend rate. Dividends (taxed as interest income) are not guaranteed to be declared annually and are non-cumulative.
If declared, dividends are paid to shareholders annually on the dividend payment date on October 1st of each year, in the form of additional shares and/ or cash, as determined by the Board.
Payment is typically determined by the investor. However, the Meridian Board of Directors can mandate a specific type of payment (shares or cash).
Series 50, 96, or 01 Shares have a convertibility option allowing you to convert to our newest Invest in Good – Series 23 Shares.
No. Invest in Good – Series 23 Shares are not eligible for deposit insurance by the Financial Services Regulatory Authority (FSRA).
If you have a Meridian non-redeemable GIC (other than a market-linked GIC), you can redeem it without penalty to purchase Invest in Good – Series 23 Shares.
Meridian is Ontario’s largest credit union, and second largest in Canada, with more than 75 years of banking history. We deliver a full range of financial products and services to more than 370,000 Members through a network of 89 branches and access to business banking services at 15 locations, a Member Contact Centre and online/mobile services. Meridian also has two operating subsidiaries: Meridian OneCap Credit Corp (“MOCC”), a leading national supplier of customized commercial equipment leasing solutions; and motusbank, a federally-regulated digital bank. Meridian Credit Union Limited has over $30 billion in assets under management (March 31, 2023).
Anyone who lives or works in any Canadian province or territory can become a Meridian Member. There is no fee to join Meridian, but you’ll need to hold a Membership Share. A Membership share is only $1 and entitles you access to all the services of the credit union and full rights as an owner/shareholder. You can discontinue Membership at any time, at which point the Membership Share of $1 will be returned once all Member holdings have been collapsed/dissolved.
Please note that Class A Shares are only available to residents and businesses in the province of Ontario.
Ready to purchase Invest in Good – Series 23 Shares?
There are a number of ways to get in touch with us. To receive a copy of the Offering Statement and get started with the purchase process for the Invest in Good – Series 23 Shares, submit your details using the form below and we’ll contact you at a suitable time. Alternatively, you can give us a call or book an appointment with one of our advisors.
All fields are required.
Questions? There are several ways to get in touch
If you have questions and would prefer to speak with one of our advisors, book an appointment or give us a call.
Book an appointment Call us: 1-866-592-2226 Find a branch or advisor
Legal
The Invest in Good – Series 23 Shares are being sold pursuant to an Offering Statement which provides full, true and plain disclosure of all material facts relating to the Invest in Good – Series 23 Shares.
*The minimum dividend floor rate is the minimum dividend rate where the Board of Directors declares a dividend. Dividends are calculated annually based on the number of shares a Member holds, if and when the Board declares a dividend. The declaration of a dividend is non-cumulative and not guaranteed. If a Member purchases additional shares or is paid dividends in shares, the dividend for the following year will be based on the total sum of shares the Member holds if and when dividends are declared.
Invest in Good - Series 23 Shares are available to individual Meridian Members (age 18 and over) residing in Ontario as well as corporations, partnerships and formal trusts based in Ontario.
**September 29, 2023 is the anticipated closing date, after which Invest in Good – Series 23 Shares will no longer be sold. Meridian reserves the right to change the Closing Date and communicate a new closing date to subscribers. Meridian also reserves the right to reject subscriptions for the shares for any reason, including the oversubscription of shares beyond the maximum share issuance in accordance with the Offering Statement, or for no reason.
***For further information on use of proceeds please refer to the Offering Statement.