Invest in your credit union.
As a co-operative, BlueShore Financial Credit Union issues various types of shares to its members. Shares provide capital funding for projects that benefit our members, including new branches, renovations, computer system upgrades and other projects designed to improve the client service we provide.
Membership Shares (Class A)
When you open an account at BlueShore Financial, you become not just a member, but an owner of our credit union. Membership Shares are a pre-requisite to:
- joining and using BlueShore Financial’s services
- earning declared dividends on your shares
- voting rights in director elections and special resolutions*
- choosing to stand for election as a director or serve on a BlueShore Financial committee*
- having a a say in how our credit union is managed and governed.
*Available to members who are 19 years of age or older, in good standing (own the required number of shares), and are not more than 60 days delinquent in any obligation to BlueShore Financial.
Members are required to purchase a minimum of 25 shares ($25), with the exception of those under the age of 19, over the age of 59 and non-profit / charitable entities, who are required to purchase 5 shares ($5).
Investment Equity Shares (Class C)
Investment Equity Shares provide members with a higher yield on their investment, earning a premium rate of return that is targeted to outperform traditional term deposits. They provide an opportunity for members to invest directly in the credit union’s future growth and expansion.
Investment Equity Shares have a consistent history of competitive dividend returns and are backed by the financial stability of the credit union. They provide a secure, low-risk investment option as part of a diversified portfolio and are ideal for clients who:
- Have a long-term investment horizon, such as estate planning (shares are not redeemable, other than in limited circumstances)
- Are seeking higher returns in a safe investment alternative that is not subject to market volatility
- Are not concerned with having access to their funds for ongoing expenses or immediate use.
You can purchase Investment Equity Shares at any time, and add to your share holdings over time – much like any savings account. Your dividends can be reinvested to purchase additional shares (like interest compounding, for greater returns) or paid out to supplement your income. You can modify how you’d like your dividends paid, as your financial needs change. See our comprehensive FAQ information for more details.
Investment Equity Shares at a glance:
|Investment Equity Shares|
|Dividends||Dividends are declared at the discretion of the Board of Directors and paid quarterly. Payment of dividends is not guaranteed, nor is the dividend yield. Dividends are treated as interest income, for tax purposes.|
|Fees & Commissions||No fees or commissions apply to purchase or management of equity shares|
|Term||Long-term investment; no set term length or maturity date.|
|Share Value||Shares have a fixed par value of $1.00. There is no active “resale” market for equity shares; they are “redeemed” when the credit union buys them back from a member|
|Minimum Purchase||1,000 shares ($1,000); minimum amount for subsequent purchases is $500|
|Maximum Purchase||Clients can hold up to 500,000 shares ($500,000). Purchases over 250,000 shares require approval from the credit union.|
|Historical Rates of Return||Consistent history of competitive dividend returns|
|Eligibility||Non-registered, RRSP, TFSA|
|Redemption||Requests to redeem shares (partial or all) are approved at the discretion of the Board of Directors.|
|Transferability||Share ownership is not transferable, except in situations involving jointly held shares, where rights of survivorship apply as noted on the Share Subscription Agreement.|
|Deposit Insurance||Not covered by the Credit Union Deposit Insurance Corporation of British Columbia (CUDIC) deposit guarantee. Shares are backed by the financial stability of the credit union.|
For full details on Class C Investment Equity Shares, please read the Disclosure Statement and speak with an BlueShore Financial financial advisor to determine if this investment option is right for your needs. You can also review the comprehensive FAQ information.
Historical rates of return.
Equity share dividends are declared each quarter by BlueShore Financial’s Board of Directors. Please refer to the information below, as a reference to the historical rates of return on our equity shares.