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Home>About Servus>Why bank with Servus?>Profit sharing>Profit Share program
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Profit Share program 

Sharing success with the people who make it possible is a pretty basic rule for credit unions.

We share our profits as a way of saying thanks for being a loyal member. It’s also our way of making sure that we’ll be here for you and your kids and their kids. How? Your success is our success; the more money and shares you have in the credit union the stronger we are.

We pay out profit share in both cash and common shares, based on how much profit we earn and how much our shares are worth. Our Profit Share program has three parts: patronage, common share dividends and investment share dividends. Here’s how each part breaks down:

Patronage

We reward members for banking with us by giving them cash back, based on a percentage of the interest they paid on loans and earned on deposits, plus the average balance they hold in their chequing and savings accounts. (We decide on the exact percentage each year.) Patronage is paid differently on different types of accounts. Agriculture and commercial accounts get patronage through a rebate on their service charges rather than on interest paid or earned.

Common Share dividends

We pay common share dividends as additional common shares. This means that you get more shares, based on how many shares you already have. Why? So you have more shares that you can earn dividends on in the future, of course!

Investment share dividends

We pay out these dividends as additional investment shares that may be redeemed in cash, which is directly deposited into members’ accounts or RRSPs/RRIFs. Paying dividends and redeeming shares are determined by the terms of our Investment Share Disclosure Statement.

The total amount of profit share we pay to members is based on how the credit union does throughout each year. The Board of Directors decides on the total profit share pay out at the end of October each year (because that’s when our fiscal year ends).

Want to know more? Please visit a branch and talk to one of our knowledgeable employees.

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