The magneto-rotational instability (MRI) is one of the most important processes in sufficiently ionized astrophysical disks. Grid-based simulations, especially those using the local shearing box approximation, provide a powerful tool to study the nonlinear turbulence the MRI produces. On the other hand, meshless methods have been widely used in cosmology, galactic dynamics, and planet formation, but have not been fully deployed on the MRI problem. We present local unstratified and vertically stratified MRI simulations with two meshless MHD schemes: a recent implementation of SPH MHD (Price 2012), and a MFM MHD scheme with constrained gradient divergence cleaning, as implemented in the GIZMO code (Hopkins 2017). Concerning variants of the SPH hydro force formulation, we consider both the "vanilla" SPH and the PSPH variant included in GIZMO. We find, as expected, that the numerical noise inherent in these schemes affects turbulence significantly. Also a high-order kernel, free of the pairing instability, is necessary. Both schemes adequately simulate MRI turbulence in unstratified shearing boxes with net vertical flux. The turbulence, however, dies out in zero-net-flux unstratified boxes, probably due to excessive numerical dissipation. In zero-netflux vertically stratified simulations, MFM can reproduce the MRI dynamo and its characteristic butterfly diagram for several tens of orbits before ultimately decaying. In contrast, extremely strong toroidal fields, as opposed to sustained turbulence, develop in equivalent simulations using SPH MHD. The latter unphysical state is likely caused by a combination of excessive artificial viscosity, numerical resistivity, and the relatively large residual errors in the divergence of the magnetic field.