Share Accounts
Membership Shares
CLASS 'B' MEMBERSHIP EQUITY SHARES
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minimum $25 requirement, maximum $1,000
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Junior (age 18 and under) $5 requirement
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dividends paid, based on financial performance
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not covered by Credit Union Deposit Insurance Corporation (CUDIC)
Transactional Shares
CLASS 'C' TRANSACTIONAL EQUITY SHARES
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for use by Credit Union to credit Equity Share Dividends and Patronage Refunds
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pursuant to the Credit Union’s Rules, restricted withdrawal policies in effect
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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.
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allows you to invest in SCCU
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minimum $500 in $100 increments; maximum $5,000
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often earn a higher rate of return/dividend than conventional savings, based on financial performance
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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
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pursuant to the Credit Union’s Rules, restricted withdrawal policies in effect
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share in the Credit Union’s profits
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qualify as an RRSP investment
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dividends declared quarterly, paid annually
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minimum age to purchase, 18
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not covered by CUDIC