Share Accounts

Membership Shares

CLASS 'B' MEMBERSHIP EQUITY SHARES

  • 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)

Transactional Shares

CLASS 'C' TRANSACTIONAL EQUITY SHARES

  • for use by Credit Union to credit Equity Share Dividends and Patronage Refunds
  • pursuant to the Credit Union’s Rules, restricted withdrawal policies in effect 
  • not covered by CUDIC

Investment Shares

CLASS 'D' VOLUNTARY EQUITY SHARES
Limited number of shares issued; limited availability.
As at July 2006, Class D Shares not available for sale

  • allows you to invest in SCCU 
  • minimum $500 in $100 increments; maximum $5,000 
  • often earn a higher rate of return/dividend than conventional savings, based on financial performance 
  • dividends:
    - paid into Class ‘C’ Shares for non-registered Class ‘D’ Shares
    - reinvested into Class ‘D’ Shares for registered Class ‘D’ Shares 
  • restricted share sales 
  • pursuant to the Credit Union’s Rules, restricted withdrawal policies in effect 
  • share in the Credit Union’s profits 
  • qualify as an RRSP investment 
  • dividends declared quarterly, paid annually
  • minimum age to purchase, 18
  • not covered by CUDIC
 

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