Meridian Announces Invest in Good - Series 23 Shares
Series 23 Class A Shares provide strong dividend rates with a low minimum investment threshold
TORONTO, May 29, 2023 /CNW/ - Meridian, Ontario's largest credit union, announced today the launch of Invest in Good - Series 23 Class A Shares. Series 23 Shares provide a competitive annual minimum dividend rate of 6.5%* allowing Members to share in Meridian's growth and success.
"Invest in Good – Series 23 Shares provide an exclusive opportunity for Members to build their financial confidence, while making a positive impact in our communities," said Jay-Ann Gilfoy, President & CEO, Meridian. "The capital we raise through the sale of these Class A Shares will be used to enhance existing products, improve services for Members and invest in programs that address socio-economic challenges facing people and communities in Ontario."
In return for their investment in Series 23 Shares, Members earn a competitive annual minimum dividend of 6.5% which is fairly priced against multiple market comparables. Meridian's strong financial results enable it to share its earnings with Members to provide this premium minimum dividend rate with confidence.
Series 23 Shares are available for a limited time only for Ontario residents and business owners starting May 29, 2023. Each share is $1, and investors can purchase between 5,000 and 2,000,000 shares, which are available for registered (TSFA, RRSP, RRIF) and non-registered accounts and are non-redeemable for five years.
Interested individuals and businesses can learn more on Meridian's website, contact their local Meridian branch to speak with an expert advisor or call Meridian's Contact Centre at 1-866-592-2226 to discuss whether Series 23 Shares are a good fit to help achieve their financial goals.
* The minimum dividend floor rate is the minimum dividend rate where the Board of Directors declares a dividend. The declaration of a dividend is non- cumulative and not guaranteed.
Meridian is Ontario's largest credit union, and second largest in Canada, with over $30 billion in assets under management (March 31, 2023). Guided by our purpose, "helping you achieve your best life," Meridian delivers personal, business and wealth financial solutions to over 370,000 Members. Our bold Meridian for Good strategy is aimed at helping people get access to the money and advice they need; plan for a better future that is clean, resilient, and diverse; and be financially confident. Meridian has two operating subsidiaries: Meridian OneCap Credit Corp ("MOCC") and motusbank. For more information, please visit: meridiancu.ca, follow us on Twitter @MeridianCU or visit us on Facebook.
We acknowledge the land on which we operate is the traditional territory of many nations including the Mississaugas of the Credit, the Anishinaabe, the Chippewa, the Haudenosaunee and the Wendat peoples and now home to many diverse First Nations, Inuit, and Métis. We also acknowledge that Toronto is covered by Treaty 13 with the Mississaugas of the Credit.
SOURCE Meridian Credit Union
Teresa Pagnutti, Public Relations, Meridian, [email protected], 416-275-3816; Jacob Del Zotto, Corporate Communications, Meridian, [email protected], 647-242-8877
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