As actual owners of the credit union, individuals—including junior members—must buy and retain a minimum of $25 Class "B" Membership Equity Shares.* The cost to you is $25.00. It is also important that you know the Membership Equity Shares account is not an interest-bearing account.
- minimum $25 requirement, maximum $1,000
- Junior (age 18 and under) $5 requirement
- dividends paid, based on financial performance
- not covered by Credit Union Deposit Insurance Corporation (CUDIC)
DividendsDividends may be declared at the discretion of our Board of Directors. Dividends are dependent on the financial status of the credit union for that year and are paid annually during the first quarter following year end. Note: Dividends paid by a credit union to a member who has shares in the credit union are not eligible for Canada's dividend tax credit (unless the shares are listed on a prescribed stock exchange) and are treated as regular interest income
