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Personal Banking

General Share Savings

What   Offers members an investment opportunity for purchasing their membership equity shares
Who   Personal Members
Period   Unlimited
Registration Deposit   Personal Members(C$25~$8,000)

Overview
This account offers our members with a simple share investment opportunity.

 

Features

  • Class A – Membership Equity Shares are a one-time investment entitling to you to the variety benefits of a Sharons Credit Union member.
  • Member entitlements and benefits are not effected by share deposit value or share type.
  • Not a fixed rate savings account, dividend is based on Sharons Credit Union’s annual business performance and absolute discretion of the Board of Directors.

 

Withdrawing Funds
Your one-time investment is returned to you in full upon leaving the credit union. The primary deposit – minimum $100 for business members and $25 for personal members, cannot be returned until the account is closed. Gained funds or funds other than the minimum deposit may be withdrawn or transferred. However, they are not deposits and not guaranteed by CUDIC. Although there is no certainty that dividends will be paid every year, dividends can be earned on member shares during the entire life of the share.

 

Types Contribution Limits
Class A – Membership Equity Shares $1,000
Class B – Transaction Equity Shares $1,000
Class C – Investment Equity Shares $3,000
Class F – Investment Equity Shares $3,000