What makes credit unions different than the big banks? Being a client of a big bank does not guarantee that you will be a shareholder. Every member of a credit union is a shareholder and part owner. Being a shareholder gives member-owners the ability to vote in the Director’s Elections, for any special resolutions, as well as, at the Annual General Meeting.
Share dividends are based on the profitability of Integris and historically, have paid quite well (see table below). Dividends are based on the daily closing balance and paid annually by December 31st.
At Integris, there are two types of shares – Class A Equity Shares and Class C Voluntary Shares.
Class A Shares Equity Shares
A $5 share contribution is required to the Class A Shares ($25 for Business Accounts) for each Integris member. Members can contribute a maximum of $1000 to their Class A Equity Shares.
Class C Voluntary Shares
Class C Voluntary Shares are not mandatory for members, but serve as a great investment option. Members may contribute a maximum of $50,000 to the voluntary C Shares. This product allows 20% of the investment to be redeemed once each year.
If a member has more than the maximum share amount, they may withdraw it or transfer it to another account at any time. Dividend interest may accumulate in the Share account and does not need to be withdrawn if it exceeds the maximum share value.
So what are they good for and who should invest in shares?
Integris Equity and Voluntary Shares are excellent products for members who feel:
- Interest rates are too low;
- Shares have the potential to earn higher interest than regular term deposit rates;
- Want the ability to access some of their money on a yearly basis.
Integris Shares are an opportunity to earn higher returns, diversify your portfolio’s and capitalize on a low risk investment. Speak with a Financial Services Representative today about your Integris Shares.
Historic Dividend C Share Interest:
| Year | Equity A Shares | Voluntary C Shares |
|---|---|---|
| 2004 | 4.00% | 5.25% |
| 2005 | 4.50% | 5.50% |
| 2006 | 5.00% | 6.00% |
| 2007 | 5.00% | 6.00% |
| 2008 | 4.00% | 5.50% |
| 2009 | 3.50% | 4.50% |
| 2010 | 5.00% | 5.00% |
| 2011 | 3.50% | 4.50% |
| 2012 | 3.25% | 4.25% |
| 2013 | 3.25% | 4.25% |
| 2014 | 3.25% | 4.25% |