Meridian is the largest credit union in Ontario. In April 2022, they announced a planned wind-down of financing to fossil-fuel companies. A range of fossil-free mutual funds are not available through Meridian, though the percentage of fossil fuel holdings in NEI's Global Impact funds are lower than most other offerings. The information below also applies to motusbank, their Canada-wide digital bank. This is solely a directory and not financial advice.
Meridian branches mainly offer mutual funds from NEI which contain less fossil fuel company holdings than most options from banks, yet the funds generally hold significant equity stakes in the Canadian oil sands. NEI's only truly fossil-free product is their Global Impact Bond Fund. They also claim to be in the process of removing direct fossil fuel holdings from their Global Sustainable Balanced Fund and Environmental Leaders Fund. An update will be provided once updated disclosures are filed in SEDAR or further context is provided by the fund manager. You can talk with a branch advisor to see if they offer any third-party mutual funds that are currently fossil-free. We've compiled a list of fossil-free mutual funds.
Qtrade, Meridian's partnered direct investing service, allows the purchase of the mutual funds listed above along with exchange traded funds listed on our ETF Portfolios and Specialized ETFs pages. Some of these are free to trade while others carry a fee. Note that this offering does not include financial guidance. VirtualWealth does not offer fossil-free options.